leisure properties inc. type public traded as nasdaq glpi founded november 2013 ; 2 years ago november 2013 headquarters wyomissing pennsylvania united states website glpropinc.com gaming and leisure properties inc. is a real estate investment trust reit specializing in casino properties based in wyomissing pennsylvania . it was formed in november 2013 as a corporate spin off from penn national gaming . the company owns 35 casino properties and operates two of them . contents 1 history 2 properties 2.1 owned and operated 2.2 leased to penn national gaming 2.2.1 casinos 2.2.2 racinos 2.3 leased to pinnacle entertainment 2.4 leased to other companies 2.5 former properties 3 references 4 external links history edit the company was created as a corporate spin off from penn national gaming effective november 1 2013 . 1 the corporate breakup was designed to increase investor returns by taking advantage of the lack of federal income taxes on reits . 2 in november 2013 glpi agreed to finance a proposed billion dollar casino in milford massachusetts 3 but the project was killed days later when town voters rejected the casino . 4 in january 2014 the company acquired the real estate assets of the casino queen in east st. louis illinois for 140 million and leased them back to the casino s operating company for 14 million a year . glpi also loaned 43 million to the casino . 5 the company s argosy casino in sioux city iowa was forced to close in july 2014 and glpi then sold the casino s real estate . 6 in may 2014 glpi agreed to buy the meadows racetrack and casino in western pennsylvania from cannery casino resorts for 465 million . the company said it would sell the facility s license to a third party operator while retaining ownership of the land and buildings . 7 the deal ran into trouble with glpi filing a lawsuit accusing cannery of fraud in october 2014 ; the lawsuit was eventually settled with an agreement on a reduced purchase price of 440 million . 8 after casino operator pinnacle entertainment announced its own plan in november 2014 to spin off a reit with the real estate assets of its 15 casinos 9 glpi approached pinnacle with an offer to buy those assets which it said would be simpler and faster than pinnacle s plan . 10 pinnacle did not respond to the offer so glpi went public with its offer in march 2015 . 10 in july the companies reached a deal for glpi to buy 14 of pinnacle s 15 properties for 4.75 billion in stock and lease them back to pinnacle with rent starting at 377 million per year . 11 the acquisition was completed in april 2016 . 12 glpi also completed its purchase of the meadows in september 2016 and sold the racetrack operation to pinnacle for 138 million . 13 14 in may 2015 glpi agreed to finance the real estate portion of a proposed 650 million casino in new bedford massachusetts 15 but the plan was canceled months later after developers failed to secure the rest of the needed funding . 16 properties edit gaming and leisure properties owns the following properties 17 owned and operated edit hollywood casino baton rouge baton rouge louisiana hollywood casino perryville perryville maryland . leased to penn national gaming edit casinos edit argosy alton alton illinois argosy kansas city riverside missouri boomtown casino biloxi biloxi mississippi m resort henderson nevada hollywood casino aurora aurora illinois hollywood casino columbus columbus ohio hollywood casino gulf coast bay st. louis mississippi hollywood casino joliet joliet illinois hollywood casino lawrenceburg lawrenceburg indiana hollywood casino st. louis maryland heights missouri hollywood casino toledo toledo ohio hollywood casino tunica tunica mississippi racinos edit bangor raceway bangor maine charles town races charles town west virginia dayton raceway dayton ohio mahoning valley race course austintown ohio penn national race course grantville pennsylvania zia park hobbs new mexico leased to pinnacle entertainment edit ameristar casino hotel council bluffs council bluffs iowa ameristar casino hotel east chicago east chicago indiana ameristar casino hotel vicksburg vicksburg mississippi ameristar casino hotel kansas city kansas city missouri ameristar casino resort spa black hawk black hawk colorado ameristar casino resort spa st. charles st. charles missouri belterra casino resort & spa florence indiana boomtown bossier city bossier city louisiana boomtown new orleans harvey louisiana cactus petes resort casino jackpot nevada horseshu hotel and casino jackpot nevada l auberge casino & hotel baton rouge baton rouge louisiana l auberge casino resort lake charles lake charles louisiana the meadows racetrack and casino north strabane township pennsylvania river city casino st. louis missouri leased to other companies edit casino queen east st. louis illinois former properties edit argosy sioux city sioux city iowa references edit jamison cocklin november 2 2013 . penn national forms spin off company for tax breaks on real estate . youngstown vindicator . retrieved 2013 11 07 . dimitra defotis november 16 2012 . penn national gaming hits jackpot . barron s. retrieved 2013 11 07 . subscription required bob salsberg november 16 2013 . foxwoods group has mass . casino finance deal . cbs boston . ap . retrieved 2014 05 18 . mark arsenault ; ellen ishkanian november 19 2013 . milford voters reject foxwoods backed casino plan . boston globe . retrieved 2014 05 18 . gaming and leisure properties inc. closes acquisition of the real estate assets related to the casino queen in east st. louis for 140 million press release . gaming and leisure properties . january 23 2014 . retrieved 2014 05 18 . form 10 k annual report report . gaming and leisure properties . february 27 2015 . p. 37 via edgar . paul j. gough may 14 2014 . new meadows owner has short history familiar name big growth plans . pittsburgh business times . retrieved 2014 05 18 . howard stutz december 16 2015 . legal matters resolved glpi acquires cannery s pittsburgh racetrack . las vegas review journal . retrieved 2016 07 22 . howard stutz november 6 2014 . pinnacle entertainment plans to split off casinos into a reit . las vegas review journal . retrieved 2015 03 09 . a b howard stutz march 9 2015 . glpi offers 4.1 billion for pinnacle entertainment s real estate . las vegas review journal . retrieved 2015 03 09 . howard stutz july 21 2015 . pinnacle glpi agree on 4.75 b merger . las vegas review journal . retrieved 2016 07 22 . gaming and leisure properties inc. completes the previously announced acquisition of the real estate assets of pinnacle entertainment inc. press release . pinnacle entertainment . april 28 2016 . retrieved 2016 07 22 . paul j. gough march 30 2016 . meadows license gaming assets sold for 138m . pittsburgh business times . retrieved 2016 07 22 . paul j. gough september 12 2016 . meadows casino now under new ownership . pittsburgh business times . retrieved 2016 09 12 . mike lawrence may 4 2015 . new bedford casino developer names big new partners meets state financial deadline . the standard times . new bedford ma . retrieved 2015 05 14 . officials mull future after new bedford casino plan scrapped . boston herald . ap . july 24 2015 . retrieved 2015 07 24 . our portfolio . gaming and leisure properties inc. retrieved 2014 05 18 . external links edit gaming and leisure properties inc. retrieved from https en.wikipedia.org w index.php title gaming and leisure properties & oldid 743419037 categories companies based in berks county pennsylvaniaamerican companies established in 2013gambling companies of the united statesreal estate investment trusts of the united states2013 establishments in pennsylvaniacompanies listed on nasdaqhidden categories pages containing links to subscription only content navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 9 october 2016 at 15 33 . text is available under the creative commons attribution sharealike license ; 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