Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase
An branch that is indiana-based of casino employees union is opposing the proposed sale of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino employees may also be planning to ask the Indiana Gaming Commission to make the plan down, arguing that the offer could possibly give the operator more legal rights than state regulations actually enable.
A given operator is allowed to own no more than two casino properties within the state’s borders under the current Indiana gaming laws. Gaming & Leisure manages one gaming center in Lawrenceburg and Pinnacle owns two facilities that are such Florence and East Chicago.
Las Vegas-headquartered gambling operator Pinnacle announced earlier in the day this plans to sell all 14 casinos it manages to Gaming & Leisure year. The latter would be to spend the quantity of $4.8 billion for the deal. in most cases, the deal is the type of where a given gambling operator sells its venues or converts them into REIT, in order to avoid having to pay federal taxes and so, trade the said venues at a stock market value that is higher.
The Indiana Gaming Commission is placed to go over the situation today at 1 pm time that is local. a representative for the continuing state gambling regulator could not be reached for comment.
Casino workers through the UNITE HERE hospitality employees union have been in a long-standing dispute with Pinnacle’s casino in East Chicago. Continue reading “Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase”