Gaming and Leisure Properties to Acquire Land and Fund Hard Costs of Live! Casino & Hotel Virginia

WYOMISSING, Pa., Oct. 27, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI”) announced today that it agreed to acquire the real estate in Petersburg, Virginia, the future site for Live! Casino and Hotel Virginia (“Live! Virginia”), a joint venture of affiliates of The Cordish Companies and Bruce Smith Enterprise (“Live! Virginia Group”). In addition, GLPI committed to fund the hard costs associated with the development of the destination casino and hotel project. The cap rate on both the $27 million land purchase and the $440 million hard cost funding is 8.0% and will be accretive to GLPI’s operating results. Closing of the transaction is subject to usual and customary closing conditions, including receipt of licenses and any approvals by the Virginia Lottery Commission.

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