Gaming & Relaxation Qualities Inc. Completes Meadows Racetrack & Casino Order
Prolonged discussions about Meadows Racetrack & Casino acquisition have come to the end and it was announced that its new proprietor is actually Gaming & recreational Properties Inc., a spinoff business of Penn nationwide games. The current holder on the Arizona region home, Cannery Casino destinations, has inked a revised business arrangement with Gaming & amusement. The acquisition that is announced was $440 million, which can be $25 million significantly less than the last proposition submitted back in May 2014.
GLPI registered a lawsuit against Cannery Casino Resorts and implicated the second of having exaggerated the performance that is financial of casino location. In point of fact, that accusation formed the basis of this purchase cost.
Based on the revealed information, GLPI would definitely keep carefully the property and estate that is real was ready to work in cooperation through a next company responsible for the utilize track and casino, situated about 15 kilometers from the Pittsburgh.
Back will 2014, Gaming & Leisure launched the goal buying the home for any quantity of $465 million, but the offer was brought to a standstill after GLPI evaluated the monetary information provided by Cannery authorities and determined the revealed facts had not honestly reflected Meadows performance that is declining.
A federal lawsuit was filed since GLPI sought a $10 million compensation for unspecified damages as a result. Læs resten