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Monday, June 30, 2014

Isle of Capri Casinos in renewed sale talks-sources, (NASDAQ: GLPI), (NASDAQ: ISLE)

Isle of Capri Casinos Inc is in advanced talks to sell itself to casino real estate owner Gaming and Leisure Properties Inc, people familiar with the situation said on Monday. St. Louis Missouri-based Isle Of Capri renewed discussions in recent months with Gaming and Leisure Properties, a real estate investment trust (REIT), after a broader sale process involving several possible buyers petered out earlier this year, the people said.Isle of Capri, advised by boutique investment bank Peter J Solomon, is weeks away from a potential deal, the people said, cautioning that the talks could still fall apart.Isle of Capri has an enterprise value of $ 1.29 billion, comprised of $969 million in debt and $325 million in equity value. It owns and operates 15 gaming and entertainment facilities in Mississippi, Louisiana, Iowa, Missouri, Colorado, Pennsylvania and Florida, according to the company's last earnings announcement.Spokespersons for Isle of Capri and Peter J. Solomon Company declined to comment. Gaming and Leisure Properties did not immediately respond to a request for comment. The people asked not to be named because the talks were not public.

Gaming and Leisure Properties, Inc. (GLPI) is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. Shares of GLPI traded higher by 2.92% or $0.97/share to $34.20. In the past year, the shares have traded as low as $32.18 and as high as $53.50. On average, 909980 shares of GLPI exchange hands on a given day and today's volume is recorded at 1532726.

Isle of Capri Casinos, Inc. is a developer, owner and operator of branded gaming facilities and related lodging and entertainment facilities in regional markets in the United States. Shares of ISLE traded higher by 6.26% or $0.51/share to $8.66. In the past year, the shares have traded as low as $6.34 and as high as $9.80. On average, 101105 shares of ISLE exchange hands on a given day and today's volume is recorded at 555982.



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