TITLE

Gambling Debt Isn't Always Bad

AUTHOR(S)
Laughlin, Kate
PUB. DATE
March 2006
SOURCE
Investment Dealers' Digest;3/20/2006, Vol. 72 Issue 11, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the rush of leveraged finance business arising from Pinnacle Entertainment's agreement to acquire Aztar. The union will create a top U.S. gaming company and extend Pinnacle's business into Atlantic City and Las Vegas. Aztar is priced at $1.45 billion with $723 million in debt to be assumed. It is reported that the deal will be financed either in whole or large part in debt markets. Bear Stearns and Lehman Brothers have committed themselves to initial funding. In addition to acquisition financing, Pinnacle and Aztar are expected to refinance their existing bank facilities.
ACCESSION #
20232752

 

Related Articles

  • Pinnacle/Aztar Union May Lead To Large Debt Financings. K. L. // Bank Loan Report;3/20/2006, Vol. 21 Issue 11, p11 

    The article discusses the effects of the merger of Pinnacle Entertainment Inc. and Aztar Corp. on their finances. Merger of the corporations will increase the business geographic scope of Pinnacle as well as the propelling of the combined entity among the top five gaming companies of the...

  • Acquired opportunity. Green, Marian // Casino Journal;May2006, Vol. 19 Issue 5, p6 

    Reports on the acquisition of Tropicana Las Vegas casino owner Aztar Corp. by Pinnacle Entertainment. Terms of the agreement; Significance of the acquisition to the presence of Pinnacle in the gaming industry in the U.S.; Benefit of the transaction to Aztar shareholders and employees.

  • How Much Is Aztar Really Worth? K. L. // High Yield Report;5/8/2006, Vol. 17 Issue 18, p1 

    The article reports on the bidding war for Aztar Corp., a gaming company. In March 2006, Pinnacle Entertainment proposed to acquire gaming rival, Aztar. According to the article, bidders Ameristar Casinos and Colony Capital withdrew from the bidding process. Meanwhile, Columbia Sussex Corp....

  • Stateside. Harris, Sharon // Casino International;May2006, p10 

    The article focuses on the dilemma facing U.S. casino operators on whether to destroy and rebuild their properties or preserve them. The casino sector in Atlantic City, New Jersey has increased the property values in the area. Pinnacle Entertainment has announced its plan to acquire the Aztar...

  • Financing deja vu: Asset-based lending for strong credits. Deutsch, David N.; Balmot, Vicky // Mergers & Acquisitions: The Dealermaker's Journal;Nov/Dec93, Vol. 28 Issue 3, p22 

    Discusses the financial aspects of leveraged buyouts (LBOs). Definition of leveraged buyout; Changes in transaction structures and financing arrangements; Characteristics of senior and mezzanine financing; Sources of mezzanine financing; Role of commercial finance companies in LBOs. INSET: The...

  • Don't Look To M&A To Be Savior For Your HY Investments in 2001. Conrad, Lee // Bank Loan Report;01/15/2001, Vol. 16 Issue 2, p12 

    Discusses the outlook for financing of mergers and acquisitions in 2001. Merger deals that are expected to be completed; Effect of the public equity market's decline on potential acquisitions; Sector that is most likely to see successful leveraged buyouts.

  • Fund-Raising Reaches An All-Time High in 2000. Fanelli, Christa // Mergers & Acquisitions: The Dealermaker's Journal;Mar2001, Vol. 36 Issue 3, p24 

    Reports on the performance of the buyout fundraising market in the United States in 2000. Record year in fundraising enjoyed by leveraged buyout and private equity firms; Information from 'Buyouts' data .

  • Pinnacle buys Aztar to build Strip resort. McKee, David // Las Vegas Business Press (10712186);3/20/2006, Vol. 23 Issue 12, p1 

    Reports on the acquisition of Aztar Corp. by Pinnacle Entertainment to build Strip resort in Las Vegas, Nevada. Reaction of analysts to the management of Pinnacle chairman and CEO Dan Lee; Amount paid by Pinnacle for the hotel and casino properties of Aztar; Changes to be made in Aztar as the...

  • Street Ups the Ante on Pinnacle's Aztar Buy. Cohen, Judy Radler // Mergers & Acquisitions Report;3/20/2006, Vol. 19 Issue 11, p1 

    Reports on the bid offered by Pinnacle Entertainment Inc. for Aztar Corp. Amount to be paid by Pinnacle for the shares of Aztar; Other companies associated with the tender offer; Comments of analysts on the bid.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics