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.
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.
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.
December 6, 2002 |
Pinnacle Entertainment Inc. was sued for wrongful termination by its former chief executive, who said the casino company blamed him for a 2001 "weekend of debauchery" that led to regulatory sanctions and harassment suits. Paul Alanis, whose resignation was announced in April by Glendale-based Pinnacle, claims that the June 2001 event at the Belterra Casino in Indiana was organized by the former chairman of Pinnacle's board, R.D. Hubbard.
July 27, 2002 |
After an executive shakeup at Pinnacle Entertainment Inc., formed three years ago in the aftermath of the sale of Hollywood Park to Churchill Downs, the Glendale-based gaming company may face sanctions Monday at a meeting of the Indiana Gaming Commission. R.D. Hubbard, a prominent owner and breeder of thoroughbreds who led a proxy fight that resulted in the ouster of Marje Everett as chairman of Hollywood Park in 1991, has resigned as chairman of Pinnacle and begun a divestiture of his stock.
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.