Games & Entertainment Characteristics Inc. Completes Meadows Racetrack & Casino Acquisition
Prolonged discussions about Meadows Racetrack & Casino acquisition attended to an conclusion and it had been announced that its latest owner is Gaming & relaxation characteristics Inc., a spinoff providers of Penn nationwide video gaming. The owner that is current of Washington County homes, Cannery Casino destinations, has inked a revised sales contract with Gaming & recreation. The acquisition that is announced was actually $440 million, which can be $25 million significantly less than the previous proposal posted back might 2014.
GLPI recorded case against Cannery Casino holiday resorts and implicated the second of experiencing exaggerated the performance that is financial of casino location. In point of fact, that accusation established the cornerstone from the deal rates.
According to research by the released info, GLPI would definitely maintain houses and real property but was willing to work in cooperation by having a third business in charge of the harness track and casino, placed about 15 kilometers away from Pittsburgh.
Back May 2014, Gaming & amusement established their intention to shop for the property for all the amount of $465 million, however the deal had been brought to a standstill after GLPI evaluated the monetary registers given by Cannery officials and determined the disclosed information hadn't honestly reflected Meadows performance that is declining.