Pinnacle Entertainment Sells its Argentina Casinos
The casino operator, Pinnacle Entertainment Inc., announced on Friday that is selling its Argentina casinos to a consortium of Argentine companies for about $40 million.
The properties of Pinnacle in the South American country consist of one large and several small casinos in the Patagonia region. The company said that the sale is part of its strategy to concentrate on its core U.S. business.
The transaction is subject to approval from the government of the Province of Neuquen and is expected to complete during the summer of 2010.
Anthony Sanfilippo, president and chief executive officer of Pinnacle Entertainment, declared: “This transaction is consistent with our strategy to focus on enhancing operating results at our core U.S. properties to build shareholder value. To achieve this, we are implementing initiatives that prioritize operational excellence to position our properties as the destination of choice for players in the markets where we operate.”
The company owns and runs casinos in Louisiana, Missouri, Indiana and Nevada.
Article by: Winiverse
Tags: argentina casinos, pinnacle entertainmentRelated posts
Short URL: http://www.winiverse.com/?p=2998
Posted by Winiverse
on Apr 30 2010 Filed under Casino News, Latest News.
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