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Tag Archives: Gaming and Leisure Properties

US – Gaming and Leisure Properties enters into Triple Net Master Lease for Pennsylvania Live! casinos

Gaming and Leisure Properties, has completed the acquisition of the land and real estate assets of Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh  from The Cordish Companies for $674m. The company funded the transaction by assuming approximately $423m in debt (which the Company has repaid), and issuing approximately $137 million of operating partnership units (3m total units), with…

US – Gaming and Leisure falls slightly following portfolio reshuffle

North American casino operator Gaming and Leisure Properties, owned by the Zacks REIT and Equity Trust generated revenues of $298.34m for the quarter ended December 2021, compared to $300.16m. A transformational 2021 saw the company sell Hollywood Casino Baton Rouge, buy the real property assets of Maryland Live!, Live! Casino & Hotel Philadelphia, and Live!…

US – Gaming and Leisure up in Q3 with boost from Perryville sale

Gaming and Leisure Properties, owner of 50 premier gaming assets across 17 states, outperformed the third quarter of 2020 with income from operations increasing by $24m over the same period last year. That was primarily due to a gain on the sale of the company’s Perryville’s operations of $15.6m. The company, who’s tenants include Penn National…

US – Gaming and Leisure Properties break ground on Baton Rouge relocation

Gaming and Leisure Properties has broken ground on the project that will relocate its Hollywood Casino Baton Rouge riverboat casino onto dry land in 2022. Baton Rouge will be the first casino in Indiana to take advantage of a 2018 law change allowing the state’s riverboat casinos to move to a landside facility. Hollywood Casino…

US – Penn National Gaming to acquire Hollywood Casino Perryville operations

Penn National Gaming, has reached agreement with Gaming and Leisure Properties to acquire the operations of Hollywood Casino – Perryville in Maryland for $31.1m in cash, subject to certain customary working capital adjustments. Simultaneous with the closing of the transaction, Penn National will enter into a lease with GLPI for the real estate assets associated…

US – Gaming and Leisure Properties buys Dover Downs and Tropicana Evansville

Gaming and Leisure Properties has entered into definitive agreements to acquire the real property assets of Dover Downs Hotel & Casino from Twin River Worldwide Holdings, and to re-acquire the real property assets of Tropicana Evansville from Caesars Entertainment, after the substitution right related to the property was triggered. Pursuant to the Tropicana Evansville agreement,…

US – Gaming and Leisure Properties to move Hollywood Casino Baton Rouge to new facility

Gaming and Leisure Properties’ Hollywood Casino in Baton Rouge has received approval from the Louisiana Gaming and Control Board to move its gaming operations to a to-be-constructed landside facility. The Company expects to complete the $21 to $25m project in early 2022 and believes the change to a landside facility will bring significant economic benefits…

US – Gaming & Leisure Properties completes purchase of Tropicana Las Vegas

Gaming and Leisure Properties, has completed the acquisition of Tropicana Las Vegas and provided an update on the collection of April 2020 rents for its portfolio of the real estate for 44 gaming and related facilities. The company and some of its subsidiaries acquired the real property associated with the Tropicana from Penn National Gaming,…

US – Pinnacle Entertainment buys Meadows Racetrack from Gaming & Leisure Properties

Pinnacle Entertainment is buying Meadows Racetrack and Casino from Gaming and Leisure Properties for US$138m. Pinnacle will operate the Meadows’ gaming entertainment business and lease its underlying real property from GLPI in a triple net lease with initial annual rent of $25.5m (implying 1.9x rent coverage). On a trailing twelve month basis at February 29,…