Gaming and Leisure Properties Inc

NASDAQ:GLPI   3:59:55 PM EDT
44.62
-0.24 (-0.52%)
Mergers / Acquisitions

Gaming And Leisure Properties And The Cordish Companies Announce Strategic Relationship

Published: 12/06/2021 21:31 GMT
Gaming and Leisure Properties Inc (GLPI) - Gaming and Leisure Properties and the Cordish Companies Announce Strategic Relationship: Glpi to Acquire the Real Estate Assets of Three Cordish Live! Casino Properties for $1.81 Billion; Cordish to Immediately Lease Back Properties and Continue All Current and Future Gaming Operations; Glpi and Cordish Form Partnership to Pursue Strategic Gaming Opportunities.
Gaming and Leisure Properties Inc - Acquisition Expected to Be Immediately Accretive at Closing.
Gaming and Leisure Properties -cordish to Immediately Lease Back All Properties, Continue to Own, Control & Manage All Gaming Operations of Facilities.
Gaming and Leisure Properties Inc - Deal Includes Binding Partnership on Future Cordish Casino Developments.
Gaming and Leisure Properties - Consideration for Deal Includes a Mix of Qualified Debt Assumption, Cash, $323 Million of Newly-issued Op Units.
Gaming and Leisure Properties -for 7 Yrs Following Deal Close for Pennsylvania Properties, to Co-invest With Cordish on New Gaming Development Project.
Gaming and Leisure Properties - to Invest in 20% of Cordish's Portion of Equity in Project Under Casino Development Equity Co-investment Partnership.
Gaming and Leisure Properties - for 5 Yrs After Deal Close for Pennsylvania Properties, to Have Right of First Offer & Refusal on Any Sale-leaseback.