(KMOX) – Two of the area’s four casinos will be getting new owners as the result of a major gaming industry buyout announced Monday morning.
Penn National Gaming, which runs the Hollywood Casino in Maryland Heights and the Argosy Casino in Alton, is buying Pinnacle Entertainment, the operator of Ameristar Casino in St. Charles and River City Casino in Lemay.
As part of the agreement, Penn National will sell the Ameristar to Boyd Gaming.
The cash and stock transaction is valued at about $2.8 billion. It’s expected to close in the second half of 2018.
The transaction still requires regulatory approval, include that of the Missouri Gaming Commission and the Illinois Gaming Board.