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More regulators approve Penn National's plan to buy Pinnacle

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More regulators approve Penn National's plan to buy Pinnacle

Pennsylvania-based gaming company Penn National Gaming Inc. said Aug. 14 that it secured approval from the Massachusetts Gaming Commission and the Texas Racing Commission for its proposed $2.8 billion acquisition of Pinnacle Entertainment Inc.

Penn National CEO Timothy Wilmott said the proposed deal is expected to close in the fourth quarter of 2018, subject to additional regulatory approvals and other conditions.

The deal has received approvals from eight other regulators, including the Indiana Gaming Commission, Pennsylvania Gaming Control Board and the West Virginia Lottery Commission and the West Virginia Lottery Commission.

Shareholders of Penn National and Pinnacle approved the deal March 29.