In the US, Penn National Gaming has announced that the Illinois Gaming Board has approved the proposed financing for the company’s pending acquisition of Pinnacle Entertainment.
The completion of the proposed transaction is contingent on receipt of additional regulatory approvals, as well as certain other conditions.
Timothy J Wilmott, Penn’s CEO, said: “We appreciate the prompt review and approval of our proposed transaction by the IGB. As the operator of three casinos in the state as well as video gaming terminals in licensed establishments through Prairie State Gaming, we are proud to serve our customers in Illinois and contribute to the state’s economic vitality.
“We look forward to securing additional regulatory approvals in the near term and remain on plan with our goal to complete the transaction in the second half of 2018.”
Last month, the Pennsylvania Gaming Control Board and the West Virginia Lottery Commission conditionally approved the pending acquisition. And on March 29, shareholders of Penn National approved the issuance of common stock to Pinnacle stockholders and Pinnacle shareholders voted to adopt the merger agreement for the transaction.
