Gaming & Amusement Properties Inc. Completes Meadows Racetrack & Casino Buy

Continuous discussions about Meadows Racetrack & Casino acquisition attended for an end and it had been established that their owner that is new is & recreational characteristics Inc., a spinoff organization of Penn state video gaming. The owner that is current of Arizona region land, Cannery Casino holiday resorts, features inked an amended selling arrangement with Gaming & amusement. The announced acquisition price was $440 million, that will be $25 million lower than the earlier offer provided back in might 2014.

GLPI filed a lawsuit against Cannery Casino destinations and implicated the latter of having exaggerated the financial performance associated with the casino site. In reality, that accusation developed the cornerstone associated with the purchase terms.

In line with the revealed information, GLPI was going to keep your structures and real property but is ready to work with collaboration through a 3rd business accountable for the funnel track and casino, positioned about 15 kilometers from the Pittsburgh.

Back May 2014, Gaming & recreational launched its objective to get the property for any number of $465 million, however the price had been delivered to a standstill after GLPI analyzed the monetary reports offered by Cannery authorities and concluded the revealed information hadn’t honestly mirrored Meadows performance that is declining.

This means that, a federal suit is submitted since GLPI needed a ten bucks million payment for unspecified problems. Continue reading