The last week saw gambling industry players Penn National Gaming Inc. (PENN – Free Report) and Boyd Gaming Corporation (BYD – Free Report) announcing buyouts.
Melco Resorts & Entertainment Limited (MLCO – Free Report) announced the launch of a luxury hotel brand, NUWA.
Weeks Most Important Stories in Detail
Penn National agreed to buy Pinnacle Entertainment Inc. (PNK) for $1.87 billion in cash and stock. Taking into account Pinnacle Entertainments debt, the total value of the deal is $2.8 billion. Pinnacle shareholders will get $20.00 in cash and 0.42 shares of Penn National shares for each Pinnacle share they own. This brings the purchase price to $32.47 per Pinnacle share based on Penn Nationals closing pric…
Read the full article at: https://www.zacks.com/stock/news/287127/gambling-stock-roundup-penn-byd-announce-buyouts-mlco-launches-hotel-brand