GLPI - Mergers and acquisitions

WYOMISSING, Pa., Feb. 11, 2026 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) ("GLPI") announced today that it acquired the real estate assets of Bally's Lincoln in Lincoln, Rhode Island, from Bally's Corporation ("Bally's") for $700.0 million. GLPI has posted a presentation, with additional details of the Lincoln property transaction, which can be accessed at www.glpropinc.com. The initial cash rent of $56.0 million represents an 8.0% capitalization rate and equates to a purchase multiple of 12.5x. Bally's Lincoln will be added to the GLPI Bally's Master Lease II agreement, increasing the number of properties to five, and the pro forma rent coverage ratio is expect

WYOMISSING, Pa., May 16, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) ("GLPI") today acquired the real estate assets of the Silverado Franklin Hotel & Gaming Complex ("Silverado"), the Deadwood Mountain Grand ("DMG") casino, and Baldini's Casino ("Baldini's"), for $105.0 million in aggregate. Simultaneous with the acquisition, GLPI and affiliates of Strategic Gaming Management, LLC ("Strategic") will enter into two cross-defaulted triple-net lease agreements, each for an initial 25-year term with two ten-year renewal periods. GLPI also provided $5 million in capital improvement proceeds at the closing of the transactions for a total investment of $110 million.

WYOMISSING, Pa., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) ("GLPI") announced today that it acquired the real estate assets of Tioga Downs Casino Resort ("Tioga Downs") in Nichols, NY from American Racing & Entertainment, LLC ("American Racing") for $175.0 million. Simultaneous with the acquisition, GLPI and American Racing entered into a triple-net master lease agreement for an initial 30-year term. The initial annual rent for the new master lease is $14.5 million and represents an 8.3% capitalization rate. The initial annualized rent coverage ratio for the lease is expected to be over 2.3x. Rent associated with the lease is subject to a fixed 1.7

WYOMISSING, Pa., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) ("GLPI") announced today that it has acquired the land associated with the Hard Rock Casino development project in Rockford, IL from an affiliate of 815 Entertainment, LLC (together, "815 Entertainment") for $100.0 million. Simultaneous with the land acquisition, GLPI entered into a ground lease with 815 Entertainment for a 99-year term. The initial annual rent for the ground lease is $8.0 million, subject to fixed 2.0% annual escalation beginning with the lease's first anniversary and for the entirety of its term. In addition to the ground lease, GLPI has also committed to providing u

WYOMISSING, Pa., March 02, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) (the "Company"), announced today that it completed the acquisition of the land and real estate assets of Live! Casino & Hotel Philadelphia ("Live! Philadelphia") and Live! Casino Pittsburgh ("Live! Pittsburgh") from The Cordish Companies ("Cordish") for total consideration of approximately $674 million. The Company funded the transaction by assuming approximately $423 million in debt (which the Company has repaid), and issuing approximately $137 million of operating partnership units (3.0 million total units), with the balance paid from cash on hand, which was in part generated by its Dece