John Giovenco leaves Pinnacle Entertainment

22Jan 2013

American land-based casino owner and operator Pinnacle Entertainment Incorporated has announced that John Giovenco has retired from his position as a member of its board of directors.

Pinnacle Entertainment runs seven casinos located in the states of Louisiana, Indiana and Missouri in addition to a racetrack facility in Ohio while June saw it purchase Los Angeles-based sporting events organiser Federated Sports and Gaming Incorporated, which is responsible for the annual Heartland Poker Tour.

Las Vegas-based Pinnacle Entertainment recently signed a deal that will see it acquire fellow operator Ameristar Casinos Incorporated in an all-cash transaction valued at $2.8 billion including assumed debt and revealed that Giovenco joined its board of directors in February of 2003.

“John has been an outstanding director for Pinnacle Entertainment,” said Richard Goeglein, Chairman for Pinnacle Entertainment.

“In addition to being one of our longest-serving members, John has made significant contributions to the board's decisions during his tenure and was very engaged in the company and board's activities with roles as lead director from February of 2008 until May of 2009, Interim Chief Executive Officer from November of 2009 to March of 2010 and, most recently, as a member of the Corporate Governance and Nominating and Audit Committees.

“On behalf of the entire board, we thank John for his many years of service and numerous contributions and wish him and his family the best.”

“It has been an honour and privilege to serve on Pinnacle Entertainment's board of directors,” said Giovenco.

“I am proud of the growth and positive transformation achieved over the course of my ten years of service to the company's shareholders and particularly by the progress and remarkable results realised over the past three years.

“I am confident a foundation is in place for Pinnacle Entertainment to enjoy continued success and I wish the company the best in its future endeavours.”