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Gaming and Leisure Properties Inc Announces Completion Of Tax-Free Spin-off from Penn National Gaming, Inc


Friday, 1 Nov 2013 11:00am EDT 

Gaming and Leisure Properties, Inc announced that the completion of its previously announced, tax-free spin-off from Penn National Gaming, Inc. ("Penn"), effective November 1, 2013. As a result of the transaction, GLPI is now a separate company that owns the real estate associated with 21 casino facilities, including two facilities currently under development in Dayton and Youngstown, Ohio and leases, or expects to lease with respect to Dayton and Youngstown, 19 of these facilities to Penn. The remaining two gaming facilities, located in Baton Rouge, Louisiana and Perryville, Maryland, are owned and operated by subsidiaries of GLPI. Collectively, and including the two facilities currently under development in Dayton and Youngstown, Ohio, GLPI owns approximately 3,220 acres of land and 6.6 million square feet of building space. Since October 14, 2013, GLPI shares have traded on a "when-issued" basis under the symbol "GLPIV," allowing shareholders to trade the right to receive shares of GLPI that will be distributed to Penn shareholders on the distribution date. From and after November 4, 2013, the first trading day following the distribution date, the "when-issued" trading of shares of GLPI common stock will end and the "regular-way" trading of shares of GLPI common stock will begin under the symbol "GLPI." 

Company Quote

29.03
0.09 +0.31%
19 Dec 2014