Friday, December 1, 2017

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Penn National Gaming in discussions to buy Las Vegas rival Pinnacle



Pennsylvania-based Penn National and Las Vegas-based Pinnacle say in a brief statements Thursday that the discussions may or may not lead to a transaction. Penn National says the discussions revolve around purchasing Pinnacle in a cash and stock transaction.

It says any transaction will require approval from the two companies' boards, as well as regulators and shareholders.

Penn National has 29 properties. Pinnacle has 16 properties. A combined company would have more than $5 billion in revenue.

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