Gaming and Leisure Properties To Provide Casino Queen Holdings With $111M Funding For Landside Move Of Belle Of Baton Rouge, Expected To Be Completed By September 202
Portfolio Pulse from Benzinga Newsdesk
Gaming and Leisure Properties, Inc. (GLPI) will provide $111 million in funding for the landside move and hotel renovation of Belle of Baton Rouge, expected to be completed by September 2025. The project will cost over $141 million, and Queen Casino & Entertainment Inc. will pay an incremental rental yield of 9% on the development funding.
June 03, 2024 | 8:24 pm
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Gaming and Leisure Properties, Inc. (GLPI) is funding $111 million for the landside move and hotel renovation of Belle of Baton Rouge, expected to be completed by September 2025. Queen Casino & Entertainment Inc. will pay an incremental rental yield of 9% on the development funding.
The funding and renovation project is a significant investment for GLPI, expected to enhance its asset base and generate additional rental income. The 9% incremental rental yield will positively impact GLPI's revenue streams.
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