Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase
An Indiana-based branch of a casino employees union is opposing the proposed purchase of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino employees are about to ask the Indiana Gaming Commission to show the plan down, arguing that the offer would probably provide the operator more legal rights than state laws and regulations really allow.
Beneath the current Indiana video gaming laws, a given operator is permitted to own only two casino properties within the state’s boundaries. Gaming & Leisure manages one gaming facility in Lawrenceburg and Pinnacle owns two such facilities in Florence and East Chicago.
Las Vegas-headquartered gambling operator Pinnacle announced previously this plans https://www.4scasino.com/ to sell all 14 casinos it manages to Gaming & Leisure year. The latter is always to pay the amount of $4.8 billion for the transaction. in most cases, the offer is among those where 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 higher stock market value.
The Indiana Gaming Commission is defined to discuss the situation today at 1 pm time that is local. a spokesperson for the state gambling regulator could not be reached for remark.
Casino employees through the UNITE HERE hospitality workers union have been around in a long-standing dispute with Pinnacle’s casino in East Chicago.