Gaming & Leisure Properties Inc. increased its bid for the casinos owned by Pinnacle Entertainment Inc., with a new offer worth $40 a share, according to a person with knowledge of the plan.
Gaming & Leisure, a Wyomissing, Pennsylvania-based real estate investment trust, gave Pinnacle a deadline of Thursday to accept what would be its final offer, said the person, who wasn’t authorized to speak publicly. The 15 casinos would be owned by Gaming & Leisure, while Pinnacle would continue to run them.
