Gaming & Recreation Properties Inc. Completes Meadows Racetrack & Casino Purchase

Gaming & Recreation Properties Inc. Completes Meadows Racetrack & Casino Purchase

Continuous talks about Meadows Racetrack & Casino acquisition attended in an conclusion plus it was launched that their newer owner are Gaming & relaxation Properties Inc., a spinoff providers of Penn state games. The existing owner of this Washington region belongings, Cannery Casino hotels, keeps inked an amended selling arrangement with Gaming & amusement. The announced acquisition terms had been $440 million, that is $25 million significantly less than the last proposal submitted back in May 2014 https://casino-bonus-free-money.com/lucky-nugget-casino/.

GLPI submitted case against Cannery Casino hotels and implicated the second of having overstated the performance that is financial of casino site. In point of fact, that accusation established the cornerstone of the purchase terms.

Based on the introduced info, GLPI would definitely keep your buildings and estate that is real is ready to work in collaboration by way of a 3rd organization responsible for the utilize track and casino, found about 15 miles far from Pittsburgh.

Back will 2014, Gaming & Leisure launched their objective purchasing the house for your number of $465 million, however the package was delivered to a standstill after GLPI evaluated the economic records offered by Cannery officials and concluded the disclosed information hadn’t genuinely reflected Meadows declining show.

This is why, a national suit is registered since GLPI sought for a $10 million payment for unspecified damage. Continue reading Gaming & Recreation Properties Inc. Completes Meadows Racetrack & Casino Purchase