Penn National Snags Key Nods For Casino-Focused REIT Split

Law360, New York (August 15, 2013, 6:51 PM EDT) -- Penn National Gaming has snagged approvals from four state gaming agencies, propelling it closer to being able to split off some of its assets into the country's first casino-focused real estate investment trust, according to a Thursday statement.

Gaming control boards and commissions in Louisiana, Iowa and Mississippi each gave their official nods on Thursday, with Pennsylvania's state racing commission also giving its blessing on Aug. 2, Penn National said. The four approvals brings the casino company's total tally of approvals to 19, leaving eight more...
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