FTC Approves Pinnacle Entertainment, Inc.'s Application to Divest Ameristar Casinos, Inc.'s Assets in Lake Charles, Louisiana to GNLC Holdings, Inc.
For Your Information: 11/20/2013
Following a public comment period, the Federal Trade Commission has approved an application by Pinnacle Entertainment, Inc. to divest all of the assets associated with Ameristar Casinos, Inc.’s casino and hotel project under construction in Lake Charles, Louisiana to GNLC Holdings, Inc., the parent company of Landry’s Inc., which owns the Golden Nugget casinos and approximately 450 restaurants nationwide. In a proposed order, the FTC requires Pinnacle to divest these assets to a Commission-approved buyer to resolve charges that Pinnacle’s acquisition of Ameristar would reduce competition among casinos in Lake Charles, in violation of the antitrust laws.
Pinnacle currently operates a casino in Lake Charles, where Ameristar is building a casino on an adjacent property, scheduled to open in 2015. Pinnacle also is required by the order to divest a casino and two hotels in St. Louis, Missouri. According to the FTC’s complaint, Pinnacle’s acquisition of Ameristar would result in increased prices and lower quality for casino customers in the St. Louis and Lake Charles areas.
The Commission vote to approve the application was 4-0. (FTC File No. 131-0064, Docket No. 9355; the staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see related press release dated August 12, 2013)
The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.
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