Gaming and leisure properties, inc. enters into triple net master lease with affiliates of the cordish companies for the pennsylvania live! properties

Wyomissing, pa., march 02, 2022 (globe newswire) -- gaming and leisure properties, inc. (nasdaq: glpi) (the “company”), announced today that it completed the acquisition of the land and real estate assets of live! casino & hotel philadelphia (“live! philadelphia”) and live! casino pittsburgh (“live! pittsburgh”) from the cordish companies (“cordish”) for total consideration of approximately $674 million. the company funded the transaction by assuming approximately $423 million in debt (which the company has repaid), and issuing approximately $137 million of operating partnership units (3.0 million total units), with the balance paid from cash on hand, which was in part generated by its december issuance of senior unsecured notes and common stock.
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