Gaming & Leisure Properties Furthers Tribal Partnership With Accretive Long-Term Financing for Caesars Republic Sonoma County
1. GLPI commits $225 million for Caesars Republic Sonoma project financing. 2. Initial loans include $180 million at 12.50% fixed rate. 3. GLPI secures a 45-year lease from Dry Creek for $112.5 million. 4. Annual rent based on a 9.75% cap rate enhances revenue certainty. 5. Project expands GLPI's market presence in California's gaming industry.