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Best of Howard Stutz

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Howard Stutz
 

Pinnacle to move stock listing to NASDAQ

5 November 2015

Regional casino operator Pinnacle Entertainment said Wednesday it will move its stock listing from the New York Stock Exchange to the NASDAQ on Nov. 17.

The Las Vegas-based company did not provide a reason for the switch. Pinnacle will continue to trade on the New York market until the change and the company's stock symbol will continue to be PNK.

Pinnacle is in the process of selling the real estate and buildings of its 14 casinos to Gaming and Leisure Partners in a $4.75 billion transaction. GLPI, a real estate investment trust, will own the properties and lease the resorts back to Pinnacle, which will continue to operate the facilities. The sale is expected to be completed early next year.