Games & Recreational Qualities Inc. Concludes Meadows Racetrack & Casino Order
Prolonged talks about Meadows Racetrack & Casino acquisition came to an conclusion and it also was established that their owner that is new is & Leisure characteristics Inc., a spinoff business of Penn nationwide video gaming. The current proprietor for the Washington region land, Cannery Casino holiday resorts, features inked a revised marketing contract with Gaming & entertainment. The announced acquisition rates had been $440 million, and that’s $25 million significantly less than the previous proposal submitted back May 2014.
GLPI recorded a lawsuit against Cannery Casino destinations and accused the latter of experiencing exaggerated the economic show of this casino location. In point of fact, that accusation developed the basis on the sale cost.
Based on the launched information, GLPI was going to maintain property and estate that is real had been ready to operate in collaboration by having a third team accountable for the use track and casino, placed about 15 miles from the Pittsburgh.
Back might 2014, Gaming & Leisure established its purpose to order the house when it comes down to quantity of $465 million, however the contract got taken to a standstill after GLPI evaluated the monetary information given by Cannery officials and concluded the revealed information hadn’t honestly shown Meadows declining results.
A federal lawsuit was filed since GLPI sought a $10 million compensation for unspecified damages as a result.Read More ->