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--Dividend payout at 80% of AFFO with remaining cash paying down debt; Fitch expects that GLPI will reduce leverage towards the low end of their 5.0x-5.5x range and then lever back up to around 5.5x to fund a merger.
Stable Cash Flow: GLPI generates 79%, 11% and 10% of rent revenue from rent under the master leases with Penn National Gaming (PENN), Eldorado Resorts (ERI) and Boyd Gaming (BYD), respectively, pro forma, for the pending transactions.
At closing, GLPI and Boyd will enter into a master lease agreement for the divestitures pursuant to which Boyd will lease the divested real property from GLPI (including the real property underlying Belterra Park).
Money magazine substantiates GLPI's claim by consistently ranking Lafayette as one of the 30 best places to live in America.
The GLPI now is fine-tuning a new strategic plan and marketing program.
Immediately prior to the merger, Tropicana sold Tropicana Aruba Resort and Casino and Gaming and Leisure Properties (NASDAQ: GLPI) acquired substantially all of Tropicana's real estate, other than the real estate underlying MontBleu Casino Resort and Spa and LumiAre Place Casino and Hotel, for approximately USD 964m and Eldorado acquired the real estate underlying LumiAre Place for USD 246m.
Immediately prior to the merger, Tropicana sold Tropicana Aruba Resort and Casino and Gaming and Leisure Properties (NASDAQ: GLPI) acquired substantially all of Tropicana's real estate, other than the real estate underlying MontBleu Casino Resort and Spa and Lumiere Place Casino and Hotel, for approximately USD 964m and Eldorado acquired the real estate underlying Lumiere Place for USD 246m.
Gaming and Leisure Properties (GLPI) announced that it has successfully completed the previously announced acquisition of the real estate assets of five casino properties from Tropicana Entertainment (TPCA) for $964M.
"Long ago we established GLPI. It has done a lot to contribute to our growth and it will do a lot to keep the ball rolling." GLPI's new president, J.
CREDIT SUISSE INITIATES CASINO STOCKS: Credit Suisse analyst Cameron McKnight initiated Gaming and Leisure Properties (GLPI), VICI Properties (VICI), and PlayAGS (AGS) with an Outperform, Las Vegas Sands (LVS), Wynn Resorts (WYNN), MGM Growth (MGP), and International Game (IGT) with a Neutral, as well as Scientific Games (SGMS) with an Underperform.
Thompson Medical's plans indicate Greater Lafayette's continued economic appeal, says Bob Griffiths, GLPI board chairman.
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