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Penn National Gaming Secures Approvals from the Ohio Casino Control Commission and Louisiana Gaming Control Board in Connection with Its Pending Acquisition of Pinnacle Entertainment

(PENN: Nasdaq) (“Penn National” or the “Company”) announced that, at separate meetings yesterday and today, the Company received approvals from the Ohio Casino Control Commission (“OCCC”) and the Louisiana Gaming Control Board (“LGCB”) in connection with the Company’s pending acquisition of Pinnacle Entertainment, Inc. (NASDAQ: PNK) (“Pinnacle Entertainment”), subject to customary conditions. The completion of the proposed transaction is contingent on receipt of additional regulatory approvals, as well as certain other conditions. Timothy J. Wilmott, Chief Executive Officer of Penn National, commented, “We thank the Ohio Casino Control Commission and the Louisiana Gaming Control Board for their thorough and diligent review of our applications and filings related to our pending transaction with Pinnacle Entertainment. Our progress with the regulatory approval process remains on track, and we continue to expect the transaction to be completed in the second half of this year.” Inclusive of the approvals from the OCCC and LGCB, Penn National has received approvals from eight gaming regulatory bodies in connection with its acquisition of Pinnacle Entertainment. In addition, on March 29, shareholders of both Penn National and Pinnacle Entertainment approved the proposed merger, with over 99% of all votes cast in favor of the transaction. Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. At March 31, 2018, the Company operated twenty-nine facilities in seventeen jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada. At March 31, 2018, in aggregate, Penn National Gaming operated http://jackpotseuy.tubablogs.com approximately 36,100 gaming machines, 810 table games and 4,800 hotel rooms. The Company also offers social online gaming through its Penn Interactive Ventures division.

For the original version including any supplementary images or video, visit https://www.businesswire.com/news/home/20180719005697/en/Penn-National-Gaming-Secures-Approvals-Ohio-Casino

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