Add-on Acquisition • Gaming

PENN Entertainment Acquires Pinnacle Entertainment

On December 18, 2017, PENN Entertainment acquired gaming company Pinnacle Entertainment for 2.8B USD

Acquisition Context
  • This is PENN Entertainment’s 6th transaction in the Gaming sector.
  • This is PENN Entertainment’s largest (disclosed) transaction.
  • This is PENN Entertainment’s 16th transaction in the United States.
  • This is PENN Entertainment’s 3rd transaction in Nevada.

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M&A Deal Summary

Date December 18, 2017
Target Pinnacle Entertainment
Sector Gaming
Buyer(s) PENN Entertainment
Deal Type Add-on Acquisition
Deal Value 2.8B USD
Advisor(s) J.P. Morgan Securities (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target Company

Pinnacle Entertainment

Las Vegas, Nevada, United States
Pinnacle Entertainment's headquarters in Las Vegas, Nevada.
Pinnacle Entertainment's headquarters in Las Vegas, Nevada.
Pinnacle Entertainment, Inc. is an owns and operator of casinos located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri and Nevada, and a racetrack in Ohio. Pinnacle Entertainment, Inc. was established in 1938 and is headquartered in Las Vegas, Nevada.
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Buyer Overview 1

Buyer

PENN Entertainment

Wyomissing, Pennsylvania, United States

Category Company
Founded 1972
Sector Gaming
Employees23,118
Revenue 6.6B USD (2024)
DESCRIPTION

PENN Entertainment owns, operates and has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. PENN Entertainment was founded in 1972 and is based in Wyomissing, Pennsylvania.


Deal Context for Buyer #
Overall 16 of 19
Sector: Gaming 6 of 6
Type: Add-on Acquisition 14 of 16
State: Nevada 3 of 3
Country: United States 16 of 18
Year: 2017 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-03 Rocket Games

San Francisco, California, United States

Rocket Games, Inc. is a social casino game developer operating primarily in the North American market.

Buy $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-20 Barstool Sports

New York, New York, United States

Barstool Sports is a sports, lifestyle, and entertainment media brand on the internet. The company creates innovative, comedic content with massive distribution on multiple platforms, including podcasts, videos, social, live events, pay-per-view, and subscriptions. Barstool Sports was founded in 2004 and is based in New York City.

Buy $500M