New York-listed Penn National Gaming has completed its $2.8bn acquisition of Pinnacle Entertainment to create North America’s largest and most diversified regional gaming operator.

Penn National acquired all of the outstanding shares of Pinnacle for $32.47 per share, comprising consideration of $20.00 in cash and 0.42 shares of Penn National common stock.

In connection with the transaction, Boyd Gaming has purchased Pinnacle’s gaming operations at Ameristar Kansas City and Ameristar St. Charles in Missouri; Belterra Casino Resort in Indiana; and Belterra Park in Ohio, for approximately $563.5m in cash, subject to certain customary closing adjustments.

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