Pinnacle Entertainment to buy Ameristar Casinos for about $869 mln

Fri Dec 21, 2012 7:15am EST

Dec 21 (Reuters) - Casino operator Pinnacle Entertainment Inc will acquire peer Ameristar Casinos Inc for about $869 million.

Pinnacle said it would pay $26.50 per share in cash, representing a premium of 20 percent over Ameristar Casinos closing price on Thursday.