Pinnacle Entertainment Inc. (NASDAQ:PNK) Q2 2015 Earnings Conference Call - Final Transcript

Jul 30, 2015 • 10:00 am ET


Pinnacle Entertainment Inc. (NASDAQ:PNK) Q2 2015 Earnings Conference Call - Final Transcript


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Carlos Ruisanchez

well capitalized REIT. And as importantly, our shareholders will have a 100% ownership in a very well-capitalized and growing operating company in Pinnacle Entertainment.

We're excited about the growth prospects of our company both through organic improvements in our portfolio as well as our ability to leverage our infrastructure into other opportunities we see. We expect the transaction with GLPI to close in the first quarter of 2016. It could close towards the end of this year, but our expectation is that it will close in the first quarter. We will work as fast and as especially [ph] as we can in order to get there. We will first need to go through our shareholder votes of both companies, which we expect will occur this fall.

We have already begun the regulatory process and expect approval to come from the seven jurisdictions that we will need to review this transaction later on this year and into early 2016.

We do have bridge financing commitments for Op Co in hand, but we expect to access the capital markets for the permanent financing. We've already begun that process and expect timing to be towards the end of the process close to the transaction coming to fruition. We believe Pinnacle will be well positioned to grow and thrive as we enter the next stage of our Company's evolution following the completion of this transaction.

In summary, we're excited about what is ahead for our Company, both operationally and strategically. We have had an eventful quarter and year thus far and we look forward to the rest of the year. I will turn the call back to Anthony.

Anthony Sanfilippo

Carlos, thank you very much. Kimberly, we're now going to open up the lines for any questions that any of the participants on the call may have.