Games & Amusement Qualities Inc. Concludes Meadows Racetrack & Casino Buy
Prolonged discussions about Meadows Racetrack & Casino acquisition have come to the end plus it was established that the owner that is new is & relaxation Properties Inc., a spinoff providers of Penn nationwide games. The owner that is current of Washington County house, Cannery Casino Resorts, has actually inked an amended revenue arrangement with Gaming & recreation. The announced acquisition terms was $440 million, which can be $25 million less than the earlier proposal published back in might 2014.
GLPI filed case against Cannery Casino holiday resorts and accused the second of experiencing overstated the performance that is financial of casino location. In reality, that accusation established the foundation associated with sale rates.
According to the introduced information, GLPI would definitely maintain property and estate that is real was actually willing to work in venture having a third organization in charge of the use track and casino, operating about 15 miles away from Pittsburgh.
Back in might 2014, Gaming & amusement announced their goal to acquire the property for your amount of $465 million, nevertheless the package is delivered to a standstill after GLPI analyzed the economic reports supplied by Cannery authorities and concluded the revealed information hadn’t truthfully shown Meadows decreasing abilities.
A federal lawsuit was filed since GLPI sought a $10 million compensation for unspecified damages as a result. Continue reading “Games & Amusement Qualities Inc. Concludes Meadows Racetrack & Casino Buy”