Following the closing of the transaction (subject to working capital adjustments), the lease is likely to have an initial term of 15 years (with four 5-year extensions) with an estimated annual rent of approximately $7.77 million. Moreover, Penn National announced that it will enter into a lease agreement with Gaming and Leisure Properties for the real estate assets associated with the Hollywood Casino Perryville. Following the announcement, shares of the company gained 5.1% during trading hours on Dec 15. GLPI for the acquisition of Hollywood Casino Perryville operations for $31.1 million. PENN recently entered into an agreement with Gaming and Leisure Properties, Inc. In a bid to reinforce its presence in the Maryland gaming market, Penn National Gaming, Inc.
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