GLPI was spun off from the Pennsylvania-based regional casino operator in 2013 as a real estate investment trust. The rent credits are set to be applied to rent due under the two companies’ existing leases for May, June, July, August, October, and part of November. GLPI acquired the real estate assets associated with Tropicana from Penn National in exchange for rent credits totaling $307.5 million. RELATED: Las Vegas Scoop: Sale of Tropicana Casino Might Be Under Way.News about the transaction first emerged in March following months of speculations that a sale of the Las Vegas Strip resort might be under way. (GLPI) last week completed the acquisition of Tropicana Las Vegas Casino Hotel Resort from Penn National Gaming. Real estate investment trust Gaming and Leisure Properties, Inc.
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