Shareholders Approve Merger of GLPI, Pinnacle Entertainment

Horse racing gets underway at Retama Park, one of Pinnacle Entertainment’s properties, in San Antonio, TX. (Photo by Scott Davis via Flickr.com under Creative Commons 2.0 license)

WYOMISSING, PA—Gaming and Leisure Properties, the first gaming-focused REIT in North America, says its shareholders voted to approve GLPI’s proposal to issue shares of GLPI common stock to stockholders of Pinnacle Entertainment in connection with GLPI’s pending acquisition of substantially all of Pinnacle’s real estate assets, following the spin-off of Pinnacle’s operations (and certain real estate assets) into a separate public company. In addition, Pinnacle says its stockholders have voted to adopt the merger agreement for the transaction.

At the special meeting of GLPI shareholders held March 15, approximately 86.5 percent of GLPI’s outstanding common shares were voted, with approximately 99.5 percent of the votes cast in favor of the proposal.