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Report: Penn National Gaming, Pinnacle Entertainment in merger talks

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Report: Penn National Gaming, Pinnacle Entertainment in merger talks

Penn National Gaming Inc. and Pinnacle Entertainment Inc., which have a combined enterprise value of roughly $12 billion, are considering a potential merger, The Wall Street Journal reported, citing "people familiar with the matter."

According to the report, the regional casino companies and their respective advisers have held talks regarding a possible merger, though they have not been able to agree on terms so far. However, Penn National is reportedly still keen on acquiring its rival casino operator.

If the companies agree to merge, they would likely need to sell some assets to gain regulatory approval, the Journal noted, adding that there is no guarantee that the parties will strike a deal.