Penn National Gaming, the owner of the Sanford-Orlando Kennel Club, plans to split into two public companies and continue to run most of its 29 casinos and racetracks, while the properties will be spun off to shareholders as the first casino-focused REIT.
November 20, 2012 at 12:00 AM
1 minute read
Penn National Gaming Inc., the operator of 29 casinos and racetracks, plans to split into two public companies by placing 17 of its properties into a real estate investment trust.
The company will continue to run most of the casinos and tracks, while the properties will be spun off to shareholders as the first casino-focused REIT, according the Wyomissing, Pennsylvania-based company.
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