Gaming regulators in Missouri have approved Pinnacle Entertainment's $2.8 billion purchase of Ameristar Casinos, clearing one of the final hurdles in the acquisition.
The Missouri Gaming Commission voted 4-0 in favor of the deal Wednesday. Missouri was the last state to approve. The Federal Trade Commission must still give the go-ahead. Pinnacle spokeswoman Kerry Andersen says the company hopes to complete the transaction in August.
Jim Mathewson, the chairman of the Missouri Gaming Commission will step down Friday. Matthewson chose not to stay for a second three-year term in order to spend more time with his family.
During Mathewson’s tenure with the Gaming Commission, Missouri’s 13th casino license was awarded to developers in Cape Girardeau and disassociated gamblers were provided a pathway to reinstatement. He says the main challenge now is raising enough revenue to help K-through-12 schools.