Pinnacle Entertainment announced today that it will acquire Ameristar Casinos for $869 million. "The acquisition of Ameristar is a transformative transaction for Pinnacle that will provide us the scale and diversification to more effectively compete," Pinnacle CEO Anthony Sanfilippo said. Acquiring Ameristar -- which Pinnacle valued at a total enterprise value of $2.8 billion -- will more than double the reach of the Las Vegas-based regional casino operator, adding Ameristar's properties in Colorado, Missouri, Indiana, Iowa, Mississippi and Nevada to its current properties in Louisiana, Missouri, Indiana and Ohio.

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