Gaming and Leisure Properties, Inc. acquired Real estate assets of Tioga Downs Casino Resort for approximately $175 million.
February 05, 2024
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Gaming and Leisure Properties, Inc. (NasdaqGS:GLPI) acquired Real estate assets of Tioga Downs Casino Resort for approximately $175 million on February 6, 2024. The transaction was funded with cash on hand and the issuance of $20.0 million in OP units. Since the end of the third quarter 2023, GLPI has issued 4.06 million shares through its ATM (At-The-Market) program which raised net proceeds of $188.9 million, in part towards the funding of this transaction, as well as its overall potential acquisition pipeline. Citizens JMP Securities acted as financial advisor to Gaming and Leisure Properties. Innovation Capital served as the financial advisor to American Racing. Matt Sodl, Kevin Scheible and Alex Wang of Innovation Capital, LLC acted as financial advisor to Jeff Gural and American Racing and Entertainment, LLC.
Gaming and Leisure Properties, Inc. (NasdaqGS:GLPI) completed the acquisition of Real estate assets of Tioga Downs Casino Resort on February 6, 2024.
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.