Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase

Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase

An Indiana-based branch of the casino employees union is opposing the proposed sale of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino employees are also planning to ask the Indiana Gaming Commission to turn the plan down, arguing that the offer would probably give the operator more legal rights than state guidelines actually allow.

Beneath the present Indiana video gaming legislation, confirmed operator is permitted to own only two casino properties within the state’s boundaries. Gaming & Leisure manages one video gaming facility in Lawrenceburg and Pinnacle owns two such facilities in Florence and East Chicago.

Las Vegas-headquartered gambling operator Pinnacle announced earlier in the day this year plans to offer all 14 casinos it manages to Gaming & Leisure. The latter is pay the total amount of $4.8 billion for the transaction. in most cases, the offer is among those where a provided gambling operator offers its venues or converts them into REIT, to prevent having to pay federal income taxes and so, trade the said venues at a stock market value that is higher.

The Indiana Gaming Commission is placed to talk about the matter today at 1 pm local time. a representative for the continuing state gambling regulator could not be reached for remark.

Casino employees through the UNITE HERE hospitality employees union have been around in a dispute that is long-standing Pinnacle’s casino in East Chicago. ادامه خواندن “Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase”