Gaming and Leisure Properties, Inc. Enters into Triple Net Master Lease with Affiliates of The Cordish Companies for the Pennsylvania Live! Properties
Pittsburgh) from The Cordish Companies (Cordish) for total consideration ofapproximately $674 million.
- Pittsburgh) from The Cordish Companies (Cordish) for total consideration ofapproximately $674 million.
- Simultaneous with the closing of the transaction, Gaming and Leisure Properties entered into a master lease with Cordish, pursuant to which Cordish will continue its uninterrupted ownership, control and management of the operations of Live!Philadelphia and Live!
- Peter Carlino, Chairman and CEO of Gaming and Leisure Properties commented, We are delighted to add the Live!
- Pennsylvania propertiesto our portfolio and expand our presence in the attractive Pennsylvania market with truly world-class properties.