March 29, 2016 / 7:15 PM / 3 years ago

BRIEF-Pinnacle Entertainment to buy Meadows from Gaming & Leisure Properties for $138 mln

March 29 (Reuters) - Pinnacle Entertainment Inc :

* Pinnacle Entertainment enters into definitive agreement to acquire the operations of the meadows racetrack and casino from Gaming & Leisure Properties Inc.

* Says deal for about $138.0 million

* Anticipate financing acquisition with $400 million revolving credit facility and cash on hand

* Expect deal to be immediately accretive to already substantial free cash flow base

* Co will operate meadows’ gaming entertainment business, lease its underlying real property from GLPI in triple net lease

* Says expect transaction to have a marginal impact on leverage at closing Source text for Eikon: Further company coverage:

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