L'Auberge casino could see new owners after Penn National to buy - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

L'Auberge casino could see new owners after Penn National to buy Pinnacle Ent in $2.8 billion deal

(WAFB) -

The L'Auberge casino could soon be changing owners.

U.S. casino operator Penn National Gaming Inc. said on Monday it would buy Pinnacle Entertainment Inc. in a cash and stock deal valued at about $2.8 billion to create a larger-scale gaming platform.

Pinnacle's shareholders will receive $20.00 in cash and 0.42 shares of Penn National common stock for each Pinnacle share. According to Reuters calculations, the $32.47 per share offer represents a premium of 48.5 percent to Pinnacle's share close on Oct. 4, a day before the Wall Street Journal first reported on the merger talks.

Sources tell WAFB it will take a few months before there are any changes on a local level in Baton Rouge if the deal goes through, including the two casinos in Louisiana.

It is not clear how the change might affect staffing at L’Auberge Baton Rouge, particularly in the management ranks. 

Pinnacle spokesman Troy Stremming says Penn National has publicly said they “admired and respected the operational teams” within Pinnacle. “It will take some time to close a complex transaction like this, so we shouldn’t expect any changes in the immediate future,” Stremming said.

Pinnacle owns 16 facilities across the country.

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