Gaming and Leisure Properties stock falls 3% after stock offering launches
Dec. 06, 2021 4:24 PM ETGaming and Leisure Properties, Inc. (GLPI)PENNBy: Liz Kiesche, SA News Editor4 Comments
- Gaming and Leisure Properties (NASDAQ:GLPI) stock drops 3.2% in after-hours trading after the REIT starts a public offering to sell 7.7M shares of its common stock.
- The company plans to use the net proceeds to partly finance the acquisition of property of Live! Casino & Hotel Maryland, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh, including applicable long-term ground leases, from affiliates of The Cordish Companies.
- Gaming and Leisure Properties (GLPI) plans to grant underwriters an option to buy up to an additional 1.55M shares of common stock.
- Last December, Penn National Gaming (NASDAQ:PENN) reached a deal with GLPI (GLPI) to acquire the operations of Hollywood Casino Perryville in Maryland.