Gaming Commission OKs Penn National's plan to split into two

26 July 2013

LAS VEGAS -- Penn National Gaming, Inc.’s plan to split the regional casino giant into two publicly traded companies was approved on Thursday by the Nevada Gaming Commission and Control Board.

The concept would separate 19 of the company’s 29 casinos and racetracks, including the M Resort, into a real estate investment trust, often referred to as a REIT.

Penn National would continue to operate the casinos. The REIT will be known as Gaming and Leisure Properties Inc.

REITs, by law, don’t pay federal income taxes. With real estate the primary source of income, REITs are required to distribute at least 90 percent of their taxable earnings to shareholders.

Penn National President Tim Wilmott told the commission the REIT would offer Penn National increased expansion opportunities. He said the process still requires approval from the Securities and Exchange Commission and other gaming regulatory bodies.

Related Links
Nevada Gaming Commission and Control Board Gaming Vendor Information
Penn National Gaming, Inc. Gaming Vendor Information
Penn National Gaming Ownership Details
Penn National Gaming Software Details


Copyright GamingWire. All rights reserved.
Featured Vendors
TOP ONE TECH LIMITED
Plastic Card ID
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
Plastic Card ID
The World’s Lowest Prices on Printed Plastic Cards and Card Printers!
TribalHub
Casino Network
TribalHub
23rd Annual TribalNet Conference Sept 12-15, 2022 Grand Sierra Resort & Casino in Reno, NV
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Kallop
Talisman Group Creators of EZ Baccarat
Kallop
Reward every play like a VIP with exclusive luxury brands at affordable prices.
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
Broadband Hospitality
Imagine This
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
TDN Money Systems
Sunkist Graphics, Inc.
TDN Money Systems
Cage, cash/chip handling experts representing CountR, ARCA, AccuCASH, Fujitsu & NCR
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
AmericanChecked
.Dot-iGaming.com
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
.Dot-iGaming.com
Fully loaded advanced casino platform. One time (low) fee, 100% your property, start now!
Casino City Press
Slot Machines Unlimited
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Casino Schedule Ease
Betson Imperial Parts & Service
Casino Schedule Ease
Get a 90-Day Free Trial of 100% contactless, customizable table game & full casino scheduling
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Global Gaming Expo (G2E)
Rymax Marketing Services, Inc.
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Oklahoma Indian Gaming Association (OIGA) Conference
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: Aug 9-11, 2022 in Tulsa!


Your Guide to 15,522 Gaming Industry Suppliers