Gaming & Entertainment Qualities Inc. Completes Meadows Racetrack & Casino Buy
Continuous talks about Meadows Racetrack & Casino acquisition have come to the end and it was launched that the owner that is new is & recreational characteristics Inc., a spinoff organization of Penn National games. The owner that is current of Washington region homes, Cannery Casino Resorts, has inked an amended marketing arrangement with Gaming & entertainment. The announced acquisition rate is $440 million, that will be $25 million less than the earlier offer provided back in will 2014.
GLPI submitted case against Cannery Casino hotels and accused the second of experiencing exaggerated the economic results in the casino venue. In reality, that accusation developed the basis regarding the purchase price.
Based on the released info, GLPI was going to keep your buildings and real property but had been ready to operate in collaboration by having a next organization in charge of the use track and casino, situated about 15 kilometers away from Pittsburgh.
Back May 2014, Gaming & Leisure established the intention to invest in the home for any quantity of $465 million, however the offer ended up being taken to a standstill after GLPI analyzed the financial information provided by Cannery authorities and concluded the disclosed facts hadn’t honestly shown Meadows performance that is declining.
As a result, a federal lawsuit was actually recorded since GLPI wanted a $10 million compensation for unspecified injuries. Continue reading