Marjorie
24.02.2022 18:23 | Trignano Nel Frignano
Lengthy-Awaited Las Vegas Strip Hotel/Casino Could
GLPI mentioned it also accomplished on Dec.
17, the beforehand announced sale of the operations of Hollywood Casino Baton Rouge to Casino Queen Holding Company for $28.2 million. The corporate and Casino Queen additionally entered into an amended and restated grasp lease that includes each Hollywood Casino Baton Rouge and the DraftKings at Casino Queen property for combined annual money rent of approximately $21.4 million. The lease has an preliminary annual money rent of $seventy five million and an preliminary time period of 39 years with a maximum time period of 60 years, inclusive of tenant renewal options, in addition to a fixed annual lease escalation of 1.75% starting in the lease’s third 12 months.
The grasp lease has an initial time period of 15 years with four 5-year extensions. "Further, our new lease with Cordish has strong rent protection and is a part of an accretive total transaction that positions our Firm to continue to construct value for shareholders via by way of our business leading, top quality tenant roster.