SHAREHOLDER ALERT: WeissLaw LLP Investigates the Acquisition of Pinnacle Entertainment, Inc.

NEW YORK, Dec. 19, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Pinnacle Entertainment, Inc. ("PNK" or the "Company") (NASDAQ: PNK) in connection with the proposed acquisition of the Company by Penn National Gaming, Inc. ("PENN") (NASDAQ: PENN).  Under the terms of the agreement, the Company's shareholders will receive $20 in cash and 0.42 of a share of PENN for each PNK share they hold, representing consideration of $31.58, based on PENN's December 18 trading price of $27.59. 

WeissLaw is investigating whether PNK's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, at least one analyst set a target price of $36.00, nearly $5.00 more than the per-share consideration.  Additionally, the Company announced strong earnings in the third quarter of 2017, reporting net revenue of $647.4 million, representing growth of approximately $52.2 million year-over-year. 

Moreover, this transaction will establish PENN as North America's preeminent regional gaming operator, with a strong base of properties, greater economies of scale, and increased purchasing power.  The deal is also expected to be immediately accretive to free cash flow, which in turn will "enhance PENN's ability to de-lever its balance sheet [and] pursue strategic opportunities."

Finally, upon closing, PENN shareholders will own a whopping 78% of the combined company, leaving a meagre 22% for PNK shareholders. 

Given these facts, WeissLaw is investigating whether PNK's Board acted in the best interests of PNK's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own PNK shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubinby telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.  

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or visit our website, http://www.weisslawllp.com/pinnacle-entertainment-inc/ 

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SOURCE WeissLaw LLP