Casino Queen, Inc. completed the acquisition of Operations of Hollywood Casino Baton Rouge from Gaming and Leisure Properties, Inc..
December 16, 2021
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Casino Queen, Inc. entered into a definitive agreement to acquire Operations of Hollywood Casino Baton Rouge("HCBR") from Gaming and Leisure Properties, Inc. (NasdaqGS:GLPI) for $28.2 million on November 25, 2020. Upon closing of the transaction, GLPI will receive $4 million as a one-time cash payment in satisfaction of the outstanding loan to Casino Queen. GLPI will retain ownership of all real estate assets at HCBR and will simultaneously enter into a master lease with Casino Queen, which will include both the DraftKings at Casino Queen (DKCQ) property in East St. Louis and the HCBR facility. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2021. As on October 29, 2021, the deal is expected to close before the end of the year.
Casino Queen, Inc. completed the acquisition of Operations of Hollywood Casino Baton Rouge from Gaming and Leisure Properties, Inc. (NasdaqGS:GLPI) on December 17, 2021.
Gaming and Leisure Properties, Inc. is a self-administered and self-managed Pennsylvania real estate investment trust. The Company's primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. Its portfolio consists of interests in approximately 62 gaming and related facilities across 19 states with eight tenants, which consists of the real property associated with gaming and related facilities. The Company's property portfolio includes Hollywood Casino Lawrenceburg, Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Casino at Charles Town Races, Hollywood Casino at Penn National Race, Hollywood Casino Bangor, Zia Park Casino, Hollywood Casino Gulf Coast, Argosy Casino Riverside, Hollywood Casino St. Louis, Hollywood Gaming at Dayton Raceway, Ameristar Black Hawk, Tioga Downs Casino Resort (Tioga Downs), and others.