April 26, 2006 |
Casino operator Aztar Corp. on Tuesday called a buyout offer of $1.7 billion in cash from Ameristar Casinos Inc. superior to a bid from Pinnacle Entertainment Inc., and gave Pinnacle until Friday to respond. Under an offer made Monday, Las Vegas-based Ameristar said it would pay $47 for each of Aztar's common shares outstanding, $2 more per share than Pinnacle agreed to pay in a revised offer it announced Monday.
June 18, 2002 |
Shopping center developer Rothbart Development Corp. said Monday that it had agreed to buy about 60 acres of land adjacent to Hollywood Park Race Track in Inglewood for $36 million and plans to build a retail project on the site. Rothbart has 12 months to secure city approvals and entitlements to build the center to complete the purchase of land from Glendale-based Pinnacle Entertainment Inc., which operates and owns casinos and card clubs.
December 15, 2000 |
Pinnacle Entertainment Inc. shares fell 28% after the company said Thursday that its $1.28-billion sale to rival gaming company Harveys Casino Resorts is being delayed because of turmoil in the debt markets. Pinnacle shares fell $6.06 to close at $15.31 on the New York Stock Exchange, after trading as low as $14.25. The companies, in separate statements released by PRNewswire, said the purchase isn't terminated, though there can be no assurance a transaction will be completed.
April 20, 2006 |
Pinnacle Entertainment Inc. increased its bid Wednesday for rival casino owner Aztar Corp. to $1.65 billion, or $43 a common share, but Aztar said a previous offer by hotel and casino owner Columbia Sussex Corp. still looked better. Pinnacle and Aztar already have a definitive merger agreement in place. Pinnacle said it sweetened the terms to "respond to a third-party proposal." Columbia Sussex, a closely held company, has proposed to pay Aztar, owner of the Tropicana hotels in Atlantic City, N.
April 25, 2006 |
Casino operator Pinnacle Entertainment Inc. said Monday that it had raised its bid for rival Aztar Corp. to $45 a share, or about $1.7 billion, in the latest round of a bidding war for the owner of the Tropicana casinos in Las Vegas and Atlantic City, N.J. The bid brings Pinnacle in line with Ameristar Casinos Inc., which has offered to buy Aztar for $45 a share.
March 14, 2006 |
Pinnacle Entertainment Inc., which operates casinos in smaller markets, said Monday that it would buy Tropicana owner Aztar Corp. for about $1.45 billion in cash, extending its reach into the prime markets of Las Vegas and Atlantic City, N.J. The first major casino takeover deal this year positions Pinnacle -- which is dwarfed by chains such as Harrah's Entertainment Inc. and MGM Mirage Inc. -- to muscle into the two main U.S. casino markets.