GLPI says Caesars takeover would have neutral lease impact
Gaming and Leisure Properties said a potential acquisition of Caesars Entertainment would likely have a neutral effect on its interests, according to comments by GLPI president Brandon Moore. GLPI’s rent coverage at Caesars-operated regional properties fell to 1.69x in the first quarter from 1.77x a year earlier; the effect on its leases remains undetermined.
A Caesars ownership change could affect GLPI’s leases and its relationship with a major tenant.