Pinnacle Entertainment Acquires Retama
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Regional casino operator Pinnacle Entertainment announced Thursday it was acquiring a 75.5 percent interest in Texas racetrack for $22.8 million.
The Las Vegas-based company, which operates casinos in Louisiana, St. Louis and Indiana, also owns the River Downs Racetrack in Cincinnati.
Analysts said Thursday's transaction helps buoy Pinnacle if Texas legalizes casino gaming. The facility, Retama Park Racetrack in Selma, is roughly 20 miles northeast of downtown San Antonio and 65 miles from Austin.
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