$PNK (Pinnacle Entertainment Inc.)

$PNK {{ '2016-04-21T21:36:23+0000' | timeago}} • Announcement

$PNK said the Colorado Limited Gaming Control Commission granted the approvals necessary for the company to complete its previously announced transaction with $GLPI. After close of transaction, $PNK will operate leased gaming facilities under a triple-net Master Lease agreement with $GLPI and will pay initial annual rent of $377MM.

$PNK {{ '2017-05-02T15:01:34+0000' | timeago}} • Announcement

$PNK's BoD elected Anthony Sanfilippo as Chairman, succeeding James Martineau. Sanfilippo will continue in his position as CEO of $PNK and Martineau will continue as an independent director. Charles Atwood has been appointed to the newly created position of Lead Independent Director. The Board elected Sanfilippo to additional post of Chairman.

$PNK {{ '2016-09-08T14:01:55+0000' | timeago}} • Announcement

Following deal close, $PNK will operate the Meadows' gaming entertainment business and lease its underlying real property from Gaming & Leisure Properties, Inc. in a triple net lease with initial annual rent of $25.4MM. The company expects to account for the Meadows lease as an operating lease under GAAP.

$PNK {{ '2016-09-08T14:00:26+0000' | timeago}} • Announcement

$PNK expects to complete the transaction on Sept. 9, 2016 for $138MM, subject to a working capital adjustment and customary closing conditions. The company intends to finance the purchase by drawing on its revolving credit facility.

$PNK {{ '2016-09-08T13:59:43+0000' | timeago}} • Announcement

$PNK received approval needed to complete the acquisition of Meadows Racetrack and Casino From Gaming & Leisure Properties, Inc. The approval by the Pennsylvania Gaming Control Board represents the final regulatory clearance required to complete the deal, following the earlier approval by the Pennsylvania Harness Racing Commission in Aug. 2016.

$PNK {{ '2016-08-17T14:57:56+0000' | timeago}} • Announcement

$PNK said its BoD authorized a new $50MM stock repurchase program and the company intends to fund any share repurchases under the new program without increasing its debt leverage profile. $PNK's shares of common stock outstanding as of Aug. 8, 2016 was approx. 57.1MM, down approx. 7.4% as a result of the share repurchases under the initial program.

$PNK {{ '2016-05-27T12:22:50+0000' | timeago}} • Announcement

$PNK said that its BoD has authorized a $50MM stock repurchase program. The company intends to fund the share repurchase program with cash flow from operations.

$PNK {{ '2016-05-27T07:32:56+0000' | timeago}} • Announcement

Gaming and hospitality company $PNK said John Godfrey, EVP, General Counsel and Secretary, will retire effective June 30, 2016. Donna Negrotto, currently VP and Legal Counsel, will be the new EVP, General Counsel and Secretary, effective July 1, 2016.

$PNK {{ '2016-05-24T12:51:10+0000' | timeago}} • Announcement

$PNK said it elected Carlos Ruisanchez to its BoD, effective May 23, 2016. Ruisanchez joined $PNK in August 2008 as its EVP, Strategic Planning and Development. He was promoted to CFO in 2011, and named President in 2013. $PNK has a seven member BoD, which includes five independent directors.

$PNK {{ '2016-04-21T21:36:23+0000' | timeago}} • Announcement

$PNK said the Colorado Limited Gaming Control Commission granted the approvals necessary for the company to complete its previously announced transaction with $GLPI. After close of transaction, $PNK will operate leased gaming facilities under a triple-net Master Lease agreement with $GLPI and will pay initial annual rent of $377MM.

$PNK {{ '2016-04-18T20:48:17+0000' | timeago}} • Announcement

Entertainment company $PNK said that the Louisiana Gaming Control Board unanimously granted the approvals necessary for it to complete its previously announced transaction with $GLPI. After the deal closes, $PNK will operate the leased gaming facilities under a triple-net Master Lease agreement with $GLPI and will pay initial annual rent of $377MM.

$PNK {{ '2016-04-13T21:40:05+0000' | timeago}} • Announcement

Gaming company $PNK said its wholly owned subsidiary, PNK Entertainment, Inc. has priced its proposed $300MM term loan B facility. The term loans will be issued at a price equal to 99.75% of their face value and bear interest at a rate equal to LIBOR plus 3.00%. The proposed new term loan B facility is expected to close on April 28, 2016.

$GLPI {{ '2016-04-12T21:13:15+0000' | timeago}} • Announcement

Gaming entertainment company $PNK said PNK Entertainment, Inc., its wholly-owned subsidiary, has priced its previously announced private offering of senior notes. The principal amount of the notes is $375MM. The company intends to use the proceeds to finance the obligation of Pinnacle to facilitate its merger with a subsidiary of $GLPI.

$GLPI {{ '2016-04-11T21:09:45+0000' | timeago}} • Announcement

Gaming company $PNK said that its subsidiary PNK Entertainment, Inc., intends to offer up to $300MM in aggregate principal amount of senior unsecured notes. PNK Entertainment intends to use the proceeds plus proceeds from anticipated new senior secured credit facilities, to finance $PNK's merger with a subsidiary of $GLPI.

$PNK {{ '2016-04-11T11:51:18+0000' | timeago}} • Announcement

$PNK also said that its operations into an independent public company distribution is expected to be made on April 28, 2016, concurrent with the closing of the transaction with Gaming and Leisure Properties, Inc.

$PNK {{ '2016-04-11T11:49:49+0000' | timeago}} • Announcement

Gaming entertainment company $PNK said that for 1Q16 the company expects net revenues in the range of $577-583MM and consolidated adjusted EBITDA is expected to be in the range of approx. $168-174MM. The company also said that income from continuing operations is expected to be between approx. $36-44MM for 1Q16.

$PNK {{ '2016-03-29T19:27:54+0000' | timeago}} • Announcement

$PNK anticipates financing the acquisition with its $400MM revolving credit facility and cash on hand. $PNK expects the transaction to have a marginal impact on its leverage at closing, and expects it to immediately add to its already substantial free cash flow base.

$GLPI {{ '2016-03-29T19:25:25+0000' | timeago}} • Announcement

$PNK said it agreed with unit of $GLPI to buy operations of Meadows Racetrack and Casino for $138MM. Following close of transaction, which is likely to be end of 3Q16, $PNK will operate Meadows' gaming entertainment business and lease its underlying real property from $GLPI in triple net lease with initial annual rent of $25.5MM.

$GLPI {{ '2016-03-23T22:30:53+0000' | timeago}} • Announcement

$PNK said that the Missouri Gaming Commission unanimously granted the approvals necessary for it to complete its previously announced transaction with $GLPI. After the close of the deal, the company will operate the leased gaming facilities under a triple-net Master Lease agreement with $GLPI and will pay initial annual rent of $377MM.

$GLPI {{ '2016-03-17T21:36:49+0000' | timeago}} • Announcement

$PNK said the Nevada Gaming Commission, upon the recommendation of the Nevada Gaming Control Board, unanimously granted the approvals necessary for the company to close its transaction with $GLPI. $PNK sees deal applications to be considered at Missouri Gaming Commission meeting next week, and in Louisiana at its April 2016 meeting.

$PNK {{ '2016-03-15T20:35:07+0000' | timeago}} • Announcement

$PNK announced the results of its special meeting of stockholders, which was held to consider proposals related to its previously announced transaction with Gaming and Leisure Properties (GLPI). $PNK stockholders approved merger with GLPI and GLPI shareholders also voted to approve its proposal to issue shares of GLPI to $PNK.

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