Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase
An Indiana-based branch of the casino workers union is opposing the proposed purchase of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino employees may also be likely to ask the Indiana Gaming Commission to show down the program, arguing that the deal would probably supply the operator more rights than state laws actually enable.
A given operator is allowed to own no more than two casino properties within the state’s borders under the current Indiana gaming laws. Gaming & Leisure manages one gaming facility in Lawrenceburg and Pinnacle owns two facilities that are such Florence and East Chicago.
Las Vegas-headquartered gambling operator Pinnacle announced earlier in the day this plans to sell all 14 casinos it manages to Gaming & Leisure year. The latter is always to spend the amount of $4.8 billion for the deal. broadly speaking, the deal is those types of when a given gambling operator sells its venues or converts them into REIT, to prevent paying federal taxes and therefore, trade the said venues at a stock market value that is higher.
The Indiana Gaming Commission is placed to go over the matter today at 1 https://aussie-pokies.club/lightning-link-pokies-review/ pm regional time. a spokesperson for the continuing state gambling regulator could not be reached for remark.
Casino employees from the UNITE HERE hospitality employees union have been in a dispute that is long-standing Pinnacle’s casino in East Chicago. Continue reading “Indiana Casino Workers Challenge Pinnacle Entertainment Casino Purchase”