Gaming & Relaxation Qualities Inc. Concludes Meadows Racetrack & Casino Buy
Continuous discussions about Meadows Racetrack & Casino acquisition came for an end and it also was actually launched that its new holder is actually Gaming & relaxation characteristics Inc., a spinoff business of Penn state video gaming. The owner that is current of Washington region property, Cannery Casino Resorts, possess inked an amended business arrangement with Gaming & amusement. The announced acquisition terms had been $440 million, in fact it is $25 million significantly less than the previous proposition published back might 2014.
GLPI submitted case against Cannery Casino holiday resorts and accused the second of experiencing overstated the monetary show associated with casino place. In reality, that accusation formed the basis in the sale rate.
According to research by the revealed info, GLPI would definitely keep the property and real property but is ready to are employed in collaboration having a next company responsible for the utilize track and casino, located about 15 kilometers away from Pittsburgh.
Back in May 2014, Gaming & Leisure announced the objective to get the house or property for any amount of $465 million, nevertheless the deal was brought to a standstill after GLPI evaluated the economic files offered by Cannery officials and concluded the disclosed facts had not genuinely shown Meadows performance that is declining.
A federal lawsuit was filed since GLPI sought a $10 million compensation for unspecified damages as a result. Continue reading