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News  ›  Benzinga

Gaming and Leisure Properties to Acquire Land and Fund Hard Costs of Live! Casino & Hotel Virginia

Benzinga Logo Benzinga By Globe Newswire
Gaming and Leisure Properties to Acquire Land and Fund Hard Costs of Live! Casino & Hotel Virginia

Gaming and Leisure Properties (GLPI) agreed to acquire real estate in Petersburg, Virginia for a new Live! Casino and Hotel project, committing $27 million for land and $440 million in hard cost funding, with an 8.0% cap rate and expected project completion in late 2027.

Insights
GLPI   positive

Expanding portfolio to 21st state, accretive transaction, strategic partnership with Cordish Companies