Gaming and Leisure Properties Inc. and Pinnacle Entertainment Inc. announced this week that they’ve entered an agreement under which GLPI will acquire Pinnacle’s real estate assets in an all-stock transaction, according to a press release. The business agreement, which was unanimously approved by both companies’ boards of directors, means that Pinnacle’s operating business and the real property of Belterra Park Gaming & Entertainment will be spun off into a separately traded company, “OpCo,” according to the release.
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