Gaming And Leisure : Public Offering Of 6.90 Mln Shares Priced For Proceeds Of About $308.8 Mln

(RTTNews) - Gaming and Leisure Properties Inc. (GLPI) said that its underwritten public offering to sell 6,900,000 shares of common stock has been priced for total gross proceeds, before underwriter's discounts and commissions and offering expenses, of approximately $308.8 million.

The company has granted the underwriters a 30-day option to purchase up to an additional 1.04 million shares of common stock. The offering is expected to close on July 1, 2022, subject to customary closing conditions.

The company plans to use the net proceeds from the offering to partially finance the previously-announced acquisition of the real property assets of Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel from affiliates of Bally's Corporation.