Gaming and Leisure Properties, Inc. Acquires Hotel and Casino
WYOMISSING, Pa., Oct. 27, 2020 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) announced today that it entered into definitive agreements to acquire the real property assets of Dover Downs Hotel and Casino from Twin River Worldwide Holdings, Inc. (“Twin River”) (NYSE: TRWH) and to re-acquire the real property assets of Tropicana Evansville from Caesars Entertainment, Inc. (“Caesars”) (NASDAQ: CZR), after the substitution right related to the property was triggered. Pursuant to the Tropicana Evansville agreement, GLPI will acquire the real property assets for approximately $340.0 million, and Twin River will acquire the operating assets of the property for approximately $140.0 million. GLPI will separately engage in a sale-leaseback transaction directly with Twin River for Dover Downs, and will acquire the real property for $144.0 million. The two properties have an aggregate real estate purchase price of approximately $484 million.