Gaming and Leisure Properties, Inc.
Company & Industry Overviews
Why Did Leveraged Loans’ Issuance Fall?
The US leveraged loans market saw an allocation of $7.6 billion worth of dollar-denominated senior loans in the week to April 15.
Company & Industry Overviews
Why Did High-Yield Bond Issuance Fall Last Week?
According to data from S&P Capital IQ/LCD, dollar-denominated high-yield debt amounting to $4.6 billion was issued in the week ending April 15.
Why Sandell wants a spin-off of Brookdale’s real estate assets
Sandell has proposed a spin-off of Brookdale’s real estate assets into an REIT. It’s a tax-free spin-off that avoids double taxation on income distribution.
Casino REITs Are Becoming Popular In The US
US casino operators are considering REIT spin-offs to achieve higher valuations. Real estate is a main income source. REITs distribute at least 90% of their taxable earnings to shareholders.
Caesars plans to restructure its largest operating unit as a REIT
REITs generate income by collecting rent and pay out at least 90% of taxable income in the form of dividends to shareholders. By converting CEOC into a REIT, the beneficial holders of CEOC’s senior secured credit facilities would receive a 100% recovery in cash and debt.
Key management executives at Penn National Gaming
The management of a publicly traded company is responsible for creating shareholder value. Strong management is the backbone of any successful company.
Must-know: Penn National Gaming’s performance metrics
Performance metric Penn National Gaming, Inc. (PENN) defines adjusted EBITDA as earnings before interest, taxes, stock compensation, debt-extinguishment charges, impairment charges, insurance recoveries and deductible charges, depreciation and amortization, gain or loss on disposal of assets, and other income or expenses. Adjusted EBITDAR is adjusted EBITDA excluding rent expenses such as those associated with PENN’s […]
Why Penn National Gaming shares jumped on news of spin-off
Tax-free spin-off On November 15, 2012, Penn National Gaming, Inc. (PENN) announced plans to separate its operating assets and real property assets into two publicly traded companies. Its approach? A tax-free spin-off of real estate assets into a real estate investment trust ( or REIT) called Gaming and Leisure Properties Inc. (GLPI). On November 1, 2013, PENN […]
Why did AQR Capital Management increase its stake in Facebook?
AQR Capital upped its stake in Facebook, Inc. (FB) by 3,444,423 shares in 4Q from 477,636 shares in 3Q.
Why AQR Capital bought a stake in Gaming and Leisure Properties
AQR opened a brand new position in Gaming and Leisure Properties (GLPI) that accounts for 0.12% of the fund’s 4Q portfolio.
Why AQR Capital Management chose to open a position in Vodafone
AQR Capital started a new position in Vodafone Group plc that accounts for 0.44% of the fund’s 4Q portfolio.
Magnetar Financial invests in REIT Gaming and Leisure Properties
Magnetar Financial LLC opened a brand new position in Gaming and Leisure Properties (GLPI) that accounts for 0.75% of the fund’s 4Q portfolio.
Omega Advisors buys stake in IntercontinentalExchange
Omega Advisors opened a new 1.36% position in Intercontinentalexchange (ICE), a leading operator of global markets and clearing houses, in the fourth quarter.
Lee Cooperman’s Omega Advisors opens a new position in T-Mobile
Cooperman seems to be following the trend of other other hedge funds such as Third Point and Paulson to capitalize on consolidation in the telecom space.
Cooperman’s Omega Advisors establishes a new position in SunEdison
Omega Advisors initiated a new 1.50% position in SunEdison Inc (SUNE). SunEdison is a major developer and seller of photovoltaic energy solutions.
Omega Advisors opens a position in Gaming and Leisure Properties
Gaming and Leisure Properties (GLPI) is a new position initiated by Omega Advisors last quarter. Gaming and Leisure Properties is the first gaming-focused REIT, which was spun off from Penn National Gaming (PENN).