Shares of Pinnacle Entertainment, Inc. (PNK, Financial), a regional casino company, increased 27.4% in the third quarter as the company completed its acquisition of Ameristar Casinos and entered into agreements to sell its St. Louis and Lake Charles properties. Now completed, we think the combined company can generate higher cash flow, which it can use to pay down debt and increase value for equity holders. We believe the $40 million of anticipated synergies is a conservative estimate. (David Baron)
From Ron Baron's Baron Funds third quarter 2013 commentary.
From Ron Baron's Baron Funds third quarter 2013 commentary.
