L'Auberge Pending Sale

[Gigi2]

How do you Texas/Louisiana gamblers feel about the announcement of Golden Nugget buying L'Auberge du Lac complex?  Lucky Larry - I would love to hear from you on this. 
Personally I don't think it could do anything but help - was there on Tuesday night and customer service for VIP clients could not be worse.  For the FIFTH time in a row I had to go back to the desk to get another room because there was something wrong with our room - this time all the furniture in the suite was pulled out from the walls, the bed had been slept on and there were towels on the bathroom floor.
There is just a disconnect going on in this property - maybe what I was feeling was a pending sale?
The VIP desk person YAWNED as she changed our room.
I hope I'm not dreaming when I expect it to be better as a Tilman Fertitta project.

[Lucky Larry]

Gigi,
I have posted under a new topic. My understanding is that just the "new" casino being built by LDL next door to it is being sold not L'Auberge itself. I'm hoping the competition will result in a better overall play in Lake Charles. We've been so disappointed in LDL we almost play/stay exclusively at the Isle. I'll be surprised if LDL doesn't have a hard time after Fertitta (GN) comes in. The Texas rich/elite especially will give the local boy a big try and this is LDL's big profit base. Few locals seem to like the place anymore.

Here is a link to Lake Charles American Express

http://www.americanpress.com/news/local ... r-property

[Gigi2]

I am sooooo happy - Competition is what L'Auberge needs.  I hope this deal clears all the road blocks - I know this will help if it goes thru.

[Lucky Larry]

I am sooooo happy - Competition is what L'Auberge needs.  I hope this deal clears all the road blocks - I know this will help if it goes thru.

I wouldn't anticipate Fetitta having problems getting La. Gaming Commission approval. I was surprised by Pinnacle's (L'Auberge's parent co.) was willing to sell the new casino to such a strong competitor.

As Mr. Harvey used to say...Now the rest of the story.....

The Federal Trade Commission was blocking approval of Pinnacle's purchase of Ameristar Corp. (owner of the license and multiple other casinos in several states) due to reduction of trade (gaming) in St. Louis and Lake Charles.

"FTC Challenges Pinnacle Entertainment’s Proposed Acquisition of Rival Casino Operator Ameristar
Commission Alleges Merger Would Harm Consumers in Two Geographic Markets

"In the St. Louis metropolitan area, Pinnacle’s acquisition of Ameristar would reduce the number of casino service providers from four to three. The parties’ combined market share and the post-merger market concentration levels in St. Louis make the transaction presumptively unlawful in that market.
In the Lake Charles market, Pinnacle operates one casino, while Ameristar is building a new casino set to open next year that will be located directly adjacent to the existing Pinnacle casino. The Commission’s complaint alleges that the new casino will be Pinnacle’s closest and most significant competitor in the Lake Charles market and, according to the parties’ own projections, will have a direct and substantial impact on the market share, revenues, and profits of Pinnacle’s existing casino."
(see link) http://www.ftc.gov/opa/2013/05/pinnacle.shtm

Yesterday, Wall Street Journal posted the following article:

Pinnacle Says Deal to Buy Ameristar Getting Closer to FTC Approval
"Pinnacle Entertainment Inc.'s (PNK) shares grew Thursday as investors cheered the planned divestiture of a casino project in Louisiana that could help pave the way for the company's pending acquisition of Ameristar Casinos Inc. (ASCA)."
link:   
http://online.wsj.com/article/BT-CO-201 ... 12876.html