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Pinnacle Entertainment Acquires Federated Sports & Gaming, Inc. and Federated Heartland, Inc.
LAS VEGAS, Jun 15, 2012 (GlobeNewswire via COMTEX) --
Pinnacle Entertainment (NYSE:PNK) announced today that the Company has entered into agreements to acquire substantially all of the assets of Federated Sports & Gaming, Inc. and Federated Heartland, Inc. These entities own the Heartland Poker Tour and other related assets and intellectual property. The Heartland Poker Tour is a live and televised poker tournament series that made 17 stops across 15 U.S. states in 2011. Pinnacle Entertainment's River City and Lumiere Place casinos in St. Louis, Missouri hosted Heartland Poker Tour events in March 2012. The Heartland Poker Tour is currently in its eighth season, and broadcasts its events on hundreds of network television, cable and satellite stations throughout the U.S., in 16 European countries and 18 Caribbean territories.
Anthony Sanfilippo, President and Chief Executive Officer of Pinnacle Entertainment, commented, "The acquisitions provide Pinnacle Entertainment with one of the poker industry's most powerful brand and intellectual property portfolios, as well as the opportunity to expand the Heartland Poker Tour and more extensively integrate its events into our network of casino properties. In addition, the acquisitions provide several elements that will help advance our online gaming strategy."
About Pinnacle Entertainment
Pinnacle Entertainment, Inc. owns and operates six casinos, located in Louisiana, Missouri, and Indiana, and a racetrack in Ohio. In addition, Pinnacle is developing L'Auberge Casino & Hotel Baton Rouge, and holds a 26% ownership stake in Asian Coast Development (Canada) Ltd. (ACDL), an international development and real estate company currently developing Vietnam's first large-scale integrated resort on the Ho Tram Strip.
The Pinnacle Entertainment, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13121
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Pinnacle Entertainment, Inc.
(Logo: http://media.primezone.com/cache/20618/int/14026.jpg)
CONTACT: Investor Relations
Vincent J. Zahn, CFA
VP, Finance and Investor Relations
702/541-7777 or investors@pnkmail.com
Media Relations
Kerry Andersen
Director, Public Relations
337/395-7631 or kandersen@pnkmail.com
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