Aztar to be purchased by Pinnacle for $1.45 bln - Online Casino

Casino Aztar is being purchased by Columbia Sussex Corp. based in outbid rival Pinnacle Entertainment Inc., owner of Belterra Casino in. Pinnacle's acquisition of Aztar positions the company to be a potential prime-time casino operator. In a bold move, riverboat casino operator Pinnacle Entertainment or $ billion in cash -- a 24% premium to Aztar's price at Friday's Virtually all of the prime real estate on the Las Vegas Strip is owned.

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Pinnacle Casino | Online Casino - Aztar to be purchased by Pinnacle for $1.45 bln - Online Casino

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Pinnacle Casino - Informe | Online Casino Reports Panama Tropicana Evansville offers comfortable hotel rooms on the Ohio river and the hottest table-games, slots and video-gaming in Indiana on their casino floor. Columbia Entertainment has also It already has an expansion project under way, and it faces some fresh competition when a new casino opens in French Lick, Ind. Louis and Memphis. Columbia, which is based in Fort Mitchell, Ky. View Details.

Tropicana Evansville


Aztar also brings the Ramada Express in Laughlin, Nev. Tropicana Evansville offers comfortable hotel rooms on the Ohio river and the hottest table-games, slots and video-gaming in Indiana on their casino floor. Chicago Tribune. Louis's Gateway Arch, Columbia will own and run more than 80 full-service hotels and resorts, comprising 33, guest rooms and 13 casinos in North America. The same applies to the casino business, he said. Posted: June 15, Dow Jones, a News Corp company. The deal comes not long after a similar-size bid for the Wyndham International hotel and resort chain a year ago. During , the company acquired a site in Allentown, Pennsylvania with the intention of securing a gaming license and then developing a casino. Acquired by Columbia Sussex. Aztar's riverboat properties don't further that effort much, but they do expand Pinnacle's regional presence. Columbia Sussex Corp. Columbia Entertainment has also The other key piece is the Tropicana Atlantic City. Casino Location Gaming Sq. Columbia, a closely held casino and hotel operator, wants Aztar because it controls the acre Tropicana hotel and casino at the busiest intersection in Las Vegas, one of the last major sites on the Strip that could be redeveloped. Yung said in a statement: "Aztar's unique assets are a perfect fit with our existing hotel and gaming properties, and we see many opportunities to improve financial performance by expanding the Tropicana brand, finishing building projects in Indiana and Atlantic City, and developing the Las Vegas property. Indeed, Pinnacle has been building rapidly and aggressively. Please download the new version of the Courierpress app. That effort continues with the company's projects in St. Louis with an expected opening date in Yung attributes much of Columbia's success as a hotel company to its ability to produce much-higher operating margins than its competitors. March 14, Casino Aztar Caruthersville basically amounts to a truck stop located halfway between St. Subscription Manage Account. The purchase will also bring it the fabled Tropicana Casino that occupies 34 potentially lucrative acres at the busiest intersection on the four-mile Las Vegas Strip and puts it into brand-new territory in the gambling mecca of Atlantic City, N. Columbia, a closely held casino and hotel operator, wants Aztar Pinnacle originally agreed to buy Aztar on March 13 for $38 a share.


Aztar to be purchased by Pinnacle for $1.45 bln - Online Casino - Welcome to Tropicana Evansville Hotel | Evansville Casino


Tropicana Evansville offers comfortable hotel rooms on the Ohio river and the hottest table-games, slots and video-gaming in Indiana on their casino floor. Underage gambling is against the law! Whether Aztar would have been able to come up with the financing on its own to build a billion-dollar-plus property is questionable, and combining operations with Pinnacle solves that problem. Final thoughts It was probably just a matter of time before a casino operator stepped in to pick up Aztar, if only for its Las Vegas property. Columbia, which is based in Fort Mitchell, Ky. Casino City Times. Yung attributes much of Columbia's success as a hotel company to its ability to produce much-higher operating margins than its competitors. Yung said it will work with Aztar to sell the latter before Columbia completes the acquisition. The deal comes not long after a similar-size bid for the Wyndham International hotel and resort chain a year ago. Casino Aztar is being purchased by Columbia Sussex Corp. Another resort and. That, in turn, positions Pinnacle to be a prime-time player in the industry. Meanwhile, Pinnacle gets access to both Las Vegas and Atlantic City, and the potential for cross-marketing capability is enticing. Resultado 9. Posted: June 15, 0. Aztar Corporation. Property Info Tropicana Evansville Tropicana Evansville offers comfortable hotel rooms on the Ohio river and the hottest table-games, slots and video-gaming in Indiana on their casino floor. View Details. Categories : establishments in Arizona disestablishments in Arizona Companies based in Phoenix, Arizona Defunct companies based in Arizona Defunct gambling companies Gambling companies established in Gambling companies disestablished in Hospitality companies of the United States.


Pinnacle Casino Informe


Pinnacle is stretching its balance sheet a little thin. Updated: Nov 15, at PM. The Tropicana features 1, hotel rooms, as well as 1, slots and 35 table games, on 61, square feet of gaming space. Underage gambling is against the law! Louis's Gateway Arch, Columbia will own and run more than 80 full-service hotels and resorts, comprising 33, guest rooms and 13 casinos in North America. Mobile Apps iPhone iPad Android. Gaming and Hospitality. The company maintains an in-house construction, supervision and design department that allows it to act as its own general contractor on renovations and new properties. View Details. But Pinnacle is paying up for a reason: The centerpieces of the merger are Aztar's Tropicana-branded properties on the Las Vegas Strip and in Atlantic City, which will give Pinnacle an established presence and prime real estate in the two biggest gaming markets in the country. Yung said it will work with Aztar to sell the latter before Columbia completes the acquisition. Categories : establishments in Arizona disestablishments in Arizona Companies based in Phoenix, Arizona Defunct companies based in Arizona Defunct gambling companies Gambling companies established in Gambling companies disestablished in Hospitality companies of the United States. The company is moving more toward the high end, with its Belterra Casino Resort -- located in Indiana about an hour away from both Cincinnati and Louisville -- and L'Auberge du Lac, which opened in Lake Charles last May. The sale closed in January The same applies to the casino business, he said.


$ billion buys Aztar


That said, the merger makes sense for both companies. Whether Aztar would have been able to come up with the financing on its own to build a billion-dollar-plus property is questionable, and combining operations with Pinnacle solves that problem. Skip to Main Content Skip to Search. Casino Aztar Caruthersville basically amounts to a truck stop located halfway between St. Pinnacle Casino. Columbia, a closely held casino and hotel operator, wants Aztar because it controls the acre Tropicana hotel and casino at the busiest intersection in Las Vegas, one of the last major sites on the Strip that could be redeveloped. Property Info Tropicana Evansville Tropicana Evansville offers comfortable hotel rooms on the Ohio river and the hottest table-games, slots and video-gaming in Indiana on their casino floor. During , the company acquired a site in Allentown, Pennsylvania with the intention of securing a gaming license and then developing a casino. Acquired by Columbia Sussex. Published: Mar 14, at AM. Share Facebook Twitter Permalink. It also owns the River Palms casino in Stateline, Nev. Columbia has "emerged from nowhere to become, apparently, a fairly formidable contender in the industry," said Mike Pollock, a New Jersey-based gaming industry analyst. Most Popular Videos. Retrieved 17 March But Yung said when he considers a property, he sees more profit potential than others do - and his company has a history of substantially higher operating margins to back it up. Mobile Apps iPhone iPad Android. We prefer to build versus buy. Indeed, Pinnacle has been building rapidly and aggressively. But as my colleague Nathan Slaughter discussed back in January, the aging property is a prime candidate for redevelopment see " Tropicana Feeling the Squeeze? Expanded riverboat presence and cross-marketing Pinnacle currently operates Boomtown-branded locals properties in the Shreveport-Bossier City, La. The company maintains an in-house construction, supervision and design department that allows it to act as its own general contractor on renovations and new properties. Most Popular Articles. Aztar Corporation was a hospitality company based in Phoenix, Arizona, focused on resort On March 13, , Aztar announced plans to be acquired by Pinnacle Entertainment for $ billion. The New Jersey Casino Control Commission ultimately rejected Columbia Sussex's application for a gaming license for the. From the world's sharpest sportsbook comes Pinnacle casino offering the best online slots, roulette, table games, and live casino.


Posted: June 15, Sponsored Offers. Casino City Times. Casino Aztar Caruthersville basically amounts to a truck stop located halfway between St. In doing so, Yung and his company outbid rival Pinnacle Entertainment Inc. Home Page World U. The Las Vegas Tropicana property "could be one of the 10 best sites in the world," the usually understated Yung said. You can view today's paper or previous issues. Steinberg said Pinnacle would probably look at other Las Vegas properties, like the acre site of the Sahara Las Vegas on the north end of the Strip. Aztar Corporation was a hospitality company based in Phoenix , Arizona , focused on resort hotels and casinos. Louis with an expected opening date in Yung said the family-owned company is ready for a pause in that regard while it digests Aztar and other recent additions to its property portfolio. Consider this paragraph from Pinnacle's annual report:. Want full access? Phoenix , Arizona , U. Now Trending. Meanwhile, Pinnacle gets access to both Las Vegas and Atlantic City, and the potential for cross-marketing capability is enticing. Columbia Sussex Corp. That, in turn, positions Pinnacle to be a prime-time player in the industry. By using this site, you agree to the Terms of Use and Privacy Policy. The company is moving more toward the high end, with its Belterra Casino Resort -- located in Indiana about an hour away from both Cincinnati and Louisville -- and L'Auberge du Lac, which opened in Lake Charles last May. Aztar was formed in as part of a restructuring of Ramada Inn, Inc. Columbia has "emerged from nowhere to become, apparently, a fairly formidable contender in the industry," said Mike Pollock, a New Jersey-based gaming industry analyst.


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