Gaming And Leisure Reportedly Raises Bid For Pinnacle's Real Estate

(RTTNews) - Gaming and Leisure Properties Inc (GLPI) has raised its bid for Pinnacle Entertainment Inc.'s (PNK) real estate, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

Gaming and Leisure late last week made an offer that values all of Pinnacle at just over $40 per share, or about $2.4 billion, the Journal quoted the people as saying.

Gaming and Leisure, which had previously made an all-stock offer valued at nearly $36 per share, described the new bid as its best and final and gave Pinnacle until Thursday to respond, the people told the Journal.