The Texas Racing Commission has approved the sale of Retama Park in Selma to Pinnacle Entertainment, Inc.
The Nevada-based company received approval Tuesday from the TRC to purchase 75.5 percent of the racing assets of Retama Park for $22.8 million.
Pinnacle Entertainment owns casino properties in Louisiana, Missouri, and Indiana. Retama Park would become Pinnacle's second acquisition of a racetrack, after acquiring River Downs in Cincinnati in 2010.
Officials from Pinnacle and Retama Park expect the transition to be completed by Feb. 1, 2013.