Belterra under new ownership

Gaming and Leisure Properties Inc. and Pinnacle Entertainment Inc. announced this week that they’ve entered an agreement under which GLPI will acquire Pinnacle’s real estate assets in an all-stock transaction, according to a press release. The business agreement, which was unanimously approved by both companies’ boards of directors, means that Pinnacle’s operating business and the real property of Belterra Park Gaming & Entertainment will be spun off into a separately traded company, “OpCo,” according to the release.