Gaming & Recreational Qualities Inc. Completes Meadows Racetrack & Casino Purchase
Prolonged discussions about Meadows Racetrack & Casino acquisition came in an end and it got announced that its owner that is new is & relaxation characteristics Inc., a spinoff organization of Penn National Gaming. The recent owner associated with Arizona County house, Cannery Casino Resorts, have inked a revised selling contract with Gaming & recreation. The acquisition that is announced ended up being $440 million, that will be $25 million not as much as the prior proposition published back might 2014.
GLPI registered a lawsuit against Cannery Casino destinations and implicated the second of having overstated the performance that is financial of casino place. In point of fact, that accusation established the foundation of this purchase costs.
Based on the launched information, GLPI would definitely maintain the property and real property but had been happy to work with cooperation by way of a 3rd business accountable for the use track and casino, situated about 15 miles away from Pittsburgh.
Back in May 2014, Gaming & Leisure established their purpose to get the house for any level of $465 million, nevertheless the contract was actually delivered to a standstill after GLPI analyzed the monetary documents provided by Cannery authorities and concluded the disclosed facts hadn't truthfully shown Meadows declining show.
A federal lawsuit was filed since GLPI sought a $10 million compensation for unspecified damages as a result.Leggi ancora