Daily business briefing: Lumiere Casino sale finalized

August 19, 2013 

Pinnacle Entertainment entered into an agreement to sell its Lumiere Place Casino, HoteLumiere and the Four Seasons Hotel St. Louis. The buyer, Tropicana Entertainment Inc., plans to purchase the properties for cash for about $260 million. Read more at http://www.bizjournals.com/stlouis. ...

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A federal Judge has set Monday as the eligibility objection deadline in the bankruptcy petition by Detroit's state-appointed emergency manager. The city has until Sept. 6 to file its responses to the objections and a hearing on the city's eligibility is scheduled to start Oct. 23. The city filed for bankruptcy on July 18, making it the largest city in U.S. history to do so. Find out more at http://www.bnd.com/business. ...

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A current push in Seattle calls to raise the city's minimum wage to $15 an hour. The state of Washington already has the nation's highest state minimum wage at $9.19 an hour. Learn more at http://www.bnd.com/business. ...

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The turmoil in Egypt helped push down oil prices below $107 a barrel Monday. The U.S. Federal Reserve may start to reduce its monetary stimulus next month. Read more at http://www.bnd.com/business.

-- Will Buss

BND business writer

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