Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase
An branch that is indiana-based of casino employees union is opposing the proposed purchase of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino workers may also be planning to ask the Indiana Gaming Commission to turn the plan down, arguing that the deal could possibly provide the operator more rights than state guidelines actually allow.
Underneath the current Indiana video gaming laws, confirmed operator is permitted to own a maximum of two casino properties within the state’s borders. Gaming & Leisure manages one video gaming center in Lawrenceburg and Pinnacle has two such facilities in Florence and East Chicago.
Las Vegas-headquartered gambling operator Pinnacle announced previously this 12 months intends to sell all 14 casinos it manages to Gaming & Leisure. The latter is spend the total amount of $4.8 billion for the transaction. in most cases, the deal is among those in which a given gambling operator offers its venues or converts them into REIT, to avoid spending federal taxes and therefore, trade the said venues at a stock market value that is higher.
The Indiana Gaming Commission is placed to talk about the problem today at 1 pm local time. a representative for the continuing state gambling regulator could never be reached for remark.
Casino employees through the UNITE HERE hospitality workers union have been around in a dispute that is long-standing Pinnacle’s casino in East Chicago. Leggi tutto “Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase”