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Industry
October 10, 2022
GLPI Bets on PENN’s Growth, Signs New Master Lease Agreement
Gaming & Leisure Properties, Inc. (GLPI) signed a new master lease agreement with PENN Entertainment covering seven of the casino operator’s gaming properties and offering an opportunity for the real estate investment trust (REIT) to benefit from PENN’s long-term growth. New Master Lease and Funding GLPI and PENN also agreed to a funding mechanism that […]
Casino
July 29, 2022
GLPI Shares Q2 Financial Results, Revenue Reaches $326.5 Million
Gaming and Leisure Properties Inc. (GLPI) has reported its financial results for the second quarter of 2022. The report states that the company’s total revenue for Q2 was $326.5 million, which is an increase compared to Q1 of 2021 when the company’s revenue was $317.8 million. GLPI Completed Several Acquisitions in Q2 of 2022 Peter […]
Casino
December 30, 2021
GLPI Completed $1.14B Live! Maryland Acquisition
Gaming and Leisure Properties, Inc. (GLPI), a real estate investment trust (REIT) operating out of Pennsylvania, announced today the completion of one part of the acquisition of three land-based casino properties operated by The Cordish Companies. Live! Maryland Acquisition Complete GLPI stated its $1.14 billion acquisition of Live! Casino & Hotel Maryland completed, leaving the […]
Casino
December 15, 2020
Penn Acquires Operations at Hollywood Casino Perryville
Penn National Gaming announced today the company would be re-entering the market in Maryland as it entered into a definitive agreement with the real estate investment trust (REIT) Gaming and Leisure Properties (GLPI) to acquire the operations of Hollywood Casino Perryville. “Penn National is excited to acquire the operations of Hollywood Casino Perryville, a property […]
Business
October 29, 2020
GLPI and Twin River Acquire Caesars’s Tropicana Evansville For $480 Million
Caesars Entertainment announced on Tuesday it will sell the Tropicana Evansville casino in Indiana to real estate investment trust Gaming and Leisure Properties (GLPI) and gaming company Twin River Worldwide Holdings for a package deal of $480 million. GLPI Will Lease the Casino to Twin Rivers Twin River will buy the casino operations for $140 […]
Business
June 28, 2020
Gaming REITs Stock Undervalued, Offering Potential for Investors
Casino companies selling their gaming properties to real estate investment trusts (REITs) and then leasing them back was an event happening relatively often since the beginning of 2020, and especially during the period of casino closures when operators were struggling for short-term cash to cover their burn rates. It featured heavily into the Eldorado Resorts […]
Casino
April 22, 2020
GLPI Acquires Tropicana, Leases Casino Operations to Penn
Gaming and Leisure Properties /GLPI/ has acquired ownership of Tropicana Las Vegas Casino Hotel Resort, after its owner, Penn Gaming National, decided to sell the property to its principal landlord. The Las Vegas Strip property was sold for $307.5 million, around $52 million less than what Penn paid for it 5 years ago, obviously a […]