National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Meadows Racetrack Assets Picked Up By Pinnacle for $138M
Pinnacle Entertainment Inc., headquartered in Las Vegas, has entered into an agreement with Wyomissing, PA-based Gaming and Leisure Properties Inc. (GLPI) to acquire entities holding gaming licenses and operating assets of the Meadows Racetrack and Casino for $138 million.
At the same time, Pinnacle has agreed to enter into a triple-net lease with GLPI for the real estate assets at 210 Racetrack Rd. in Washington, PA. The annual rent is pegged at $25.5 million. The 10-year lease has the option to renew for three successive five-year terms, and a four-year term.
- ◦Lease
