Pinnacle Sells Real Estate Assets to Gaming and Leisure

Skadden is representing Pinnacle Entertainment, Inc. in the sale of substantially all of its real estate assets to Gaming and Leisure Properties, Inc. in a stock-for-stock merger, announced July 21. Prior to the acquisition, Pinnacle's operating business and the real property of Belterra Park Gaming & Entertainment will be spun off into a separately traded public company and the real estate assets held by the remaining company will be acquired by Gaming and Leisure Properties.