Penn National Gaming secures approval from Nevada gaming regulators

(PRESS RELEASE) -- Penn National Gaming, Inc. announced that at meetings today, the company received approval from the Nevada Gaming Commission and Nevada Gaming Control Board in connection with its pending acquisition of Pinnacle Entertainment, Inc., subject to customary conditions. Today’s approvals represents the final required regulatory approvals necessary to complete the transaction, and Penn National anticipates closing the transaction in mid-October, subject to the satisfaction or waiver of the remaining customary conditions to closing set forth in the merger agreement between Penn National and Pinnacle Entertainment.

Timothy J. Wilmott, Chief Executive Officer of Penn National, commented, “We are grateful to the Nevada Gaming Commission and Nevada Gaming Control Board for their thorough and diligent review of the applications and filings related to our pending transaction with Pinnacle Entertainment. With these approvals in hand, we look forward to the upcoming closing of the transaction in mid-October and officially welcoming Pinnacle Entertainment’s team members to the Penn National family.”

Earlier this week Penn National announced that the Federal Trade Commission had cleared its pending acquisition of Pinnacle Entertainment.