GLPI will complete the previously announced landside development project at HCBR and the rent under the master lease will be adjusted upon delivery to reflect a yield of 8.25% on GLPI’s project costs. In conjunction with the transaction, GLPI will also have a right of first refusal with Casino Queen for other sale leaseback transactions up to $50 million over the next 2 years.

The lease will have an initial term of 15 years with four 5-year extensions. Louis and the HCBR facility, for initial annual cash rent of approximately $21.4 million. GLPI will retain ownership of all real estate assets at HCBR and will simultaneously enter into a master lease with Casino Queen, which will include both the DraftKings at Casino Queen (“DKCQ”) property in East St. GLPI has also entered into a definitive agreement to sell the operations of Hollywood Casino Baton Rouge (“HCBR”) to Casino Queen Holding Company Inc. Simultaneous with the closing of the transaction, GLPI will enter into a new lease with Penn National for the real estate assets associated with Hollywood Casino Perryville, for initial annual cash rent of approximately $7.77 million. (NASDAQ: PENN) (“Penn National” or the “Company”) to sell to Penn National the operations of Hollywood Casino Perryville in Maryland for $31.1 million in cash, subject to certain customary working capital adjustments. (the 'Company' or 'GLPI') (NASDAQ: GLPI), announced today that the Company has entered into a definitive agreement with Penn National Gaming, Inc. 15, 2020 (GLOBE NEWSWIRE) - Gaming and Leisure Properties, Inc.

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