Announced
Completed
Financials
Tags
Domestic
United States
Acquisition
Friendly
Casinos and Gambling
Real Estate
casino operator
Majority
Private
Completed
Single Bidder
Synopsis
Gaming and Leisure Properties, a real estate investment property trust, completed the acquisition of three Live! casino properties from The Cordish Companies, an international developer of large-scale, urban revitalization projects and entertainment districts, for $1.81bn. “We are delighted to add Live! Maryland to our portfolio, further diversify our roster of leading operators, and gain additional access to the rapidly growing Baltimore-Washington corridor via a truly world-class property. Further, our new lease with Cordish has strong rent coverage and is part of an accretive overall transaction that positions our company to continue to build value for shareholders through via our industry leading, high quality tenant roster,” Peter Carlino, GLPI Chairman and CEO.
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