Penn National Gaming Inc., the casino operator spinning off properties into a real estate investment trust, will call competitors “10 seconds” after its deal closes to see who’s willing to sell their resorts.
“This idea will absolutely revolutionize and open up capital for gaming companies that’s not available today,” chief financial officer Bill Clifford said in a Dec. 13 interview in New York. “Gaming companies could become asset-light, where the only capital they need to raise in order to operate casinos will be the cost of the furniture, fixtures and equipment, and gaming license.”
