Pinnacle confirms talks with Gaming and Leisure Properties to possible Real Estate Assets sale

Pinnacle Entertainment confirmed Monday that it is in talks to sell its real estate assets to Gaming and Leisure Properties Inc.

Pinnacle also said in a statement that it is looking into maximizing value for shareholders though no assurances could be made that the talks would produce a transaction.

“We are impressed with the results they continue to achieve,” said Peter Carlino, chief executive officer and chairman of Gaming and Leisure. “They have been very cordial and professional in our dealings with them and are a team that we would very much like to partner with not only on this transaction but on future opportunities as well.”

In March, casino property owner Gaming and Leisure Properties announced that it offered to buy Pinnacle’s real estate assets at $4.1 billion, including debt. At the time, Pinnacle said it would review the offer.