Pennsylvania-based Penn National Gaming's $2.8 billion acquisition of Pinnacle Entertainment is officially done, officials said Monday.
The deal expands Penn National's gambling properties from 29 to 41, including four Louisiana properties leased and operated by Pinnacle. They include L'Auberge Casino Resort in Lake Charles, L'Auberge Casino and Hotel in Baton Rouge, Boomtown Casino and Hotel New Orleans, and Boomtown Casino and Hotel Bossier City.
The Louisiana Gaming Control Board approved the purchase in July. Tim Wilmont, Penn National CEO, said during the board meeting that the sale will make the company "the largest regional gaming operator in the United States" and will bring about $5 billion in annual revenue.
The L'Auberge or Boomtown properties will not be rebranded, according to Wilmont.