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Gaming & Leisure Properties Inc. Concludes Meadows Racetrack & Casino Acquisition

Gaming & Leisure Properties Inc. Concludes Meadows Racetrack & Casino Acquisition

Continuous discussions about Meadows Racetrack & Casino acquisition came in an end also it had been established that their owner that is new is & relaxation Properties Inc., a spinoff providers of Penn state games. The owner that is current of Arizona district property, Cannery Casino holiday resorts, have inked an amended sale agreement with Gaming & relaxation. The acquisition that is announced had been $440 million, and that is $25 million not as much as the previous suggestion submitted back in May 2014.

GLPI filed case against Cannery Casino Resorts and accused the second of having exaggerated the monetary performance associated with the casino place. In point of fact, that accusation established the cornerstone associated with purchase rates.

According to research by the revealed info, GLPI would definitely keep carefully the structures and estate that is real had been happy to operate in cooperation with a 3rd business responsible for the funnel track and casino, found about 15 kilometers far from Pittsburgh.

Back in May 2014, Gaming & relaxation established the intent to shop for the house or property for the number of $465 million, nevertheless the deal is taken to a standstill after GLPI examined the monetary records provided by Cannery officials and determined the disclosed information had not honestly reflected Meadows performance that is declining.

Because of this, a federal lawsuit is recorded since GLPI needed a $10 million settlement for unspecified damage. Continuer la lecture de Gaming & Leisure Properties Inc. Concludes Meadows Racetrack & Casino Acquisition