Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale
An branch that is indiana-based of casino workers union is opposing the proposed sale of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino workers are about to ask the Indiana Gaming Commission to turn straight down the master plan, arguing that the offer would probably provide the operator more legal rights than state laws and regulations actually enable.
Under the present Indiana gaming laws, confirmed operator is permitted to own no more than two casino properties in the state’s borders. Gaming & Leisure manages one video gaming facility in Lawrenceburg and Pinnacle has two such facilities in Florence and East Chicago.
Las Vegas-headquartered gambling operator Pinnacle announced earlier this year plans to offer all 14 casinos it manages to Gaming & Leisure. The latter is pay the total amount of $4.8 billion for the deal. in most cases, the offer is among those in which a free online pokies more hearts offered gambling operator offers its venues or converts them into REIT, to avoid paying federal income taxes and therefore, trade the said venues at a higher stock market value.
The Indiana Gaming Commission is placed to talk about the situation today at 1 pm time that is local. a spokesperson for the state gambling regulator could never be reached for comment.
Casino employees from the UNITE HERE hospitality employees union will be in a dispute that is long-standing Pinnacle’s casino in East Chicago. Continue reading “Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale”