Industry
October 10, 2022
GLPI Bets on PENN’s Growth, Signs New Master Lease Agreement
Gaming & Leisure Properties, Inc. (GLPI) signed a new master lease agreement with PENN Entertainment covering seven of the casino operator’s gaming properties and offering an opportunity for the real estate investment trust (REIT) to benefit from PENN’s long-term growth. New Master Lease and Funding GLPI and PENN also agreed to a funding mechanism that […]
Casino
October 6, 2022
Kambi, PENN to Complete PENN’s Sportsbook Migration in 2024
Leading provider of sports betting technology solutions Kambi Group announced it has reached an agreement with PENN Entertainment over the migration of PENN’s online and retail sportsbook powered by Kambi to a PENN proprietary technology. Ongoing Share Revenue Payments to Continue According to the agreement reached between Kambi and PENN, the casino operator would effect […]
Legal
November 13, 2020
Massachusetts Should Not Allow Online-Only Sportsbooks
Two of the three land-based casinos in Massachusetts expressed their view that lawmakers should not allow the sports betting market be flooded by online-only sportsbook operators, ahead of the legalization of the gambling activity in the state. Casinos Should Hold the Key to Market Entry Plainridge Park Casino and Encore Boston Harbor pointed out that […]
Casino
April 22, 2020
GLPI Acquires Tropicana, Leases Casino Operations to Penn
Gaming and Leisure Properties /GLPI/ has acquired ownership of Tropicana Las Vegas Casino Hotel Resort, after its owner, Penn Gaming National, decided to sell the property to its principal landlord. The Las Vegas Strip property was sold for $307.5 million, around $52 million less than what Penn paid for it 5 years ago, obviously a […]