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Penn National Gaming sells real estate assets to relieve liquidity pressure

30th March 2020 10:25 am GMT

New York-listed Penn National Gaming has reached an agreement to sell the Tropicana Las Vegas real estate assets and the ground lease of its new Pennsylvania casino to Gaming & Leisure Properties (GLPI).

Penn National will receive $337.5m in rent credits from the transaction, helping to mitigate the financial impact of the ongoing COVID-19 pandemic.

“As the global COVID-19 health crisis continues to evolve, we are navigating through this unprecedented time for our company, our industry and [...]

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