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PENN Entertainment To Pursue Four New Growth Projects In Illinois, Ohio And Nevada

RTTNews | 1079 days ago

PENN Entertainment To Pursue Four New Growth Projects In Illinois, Ohio And Nevada

(RTTNews) - PENN Entertainment, Inc. (PENN) announced Monday that it intends to relocate its riverboat casinos in Aurora and Joliet, Illinois to new land-based facilities and to build a new hotel at Hollywood Columbus in Ohio and a second hotel tower at the M Resort in Henderson, Nevada.

In connection with these projects, PENN has entered into an agreement with Gaming and Leisure Properties, Inc. (GLPI) to create a new master lease that would include the two new facilities in Aurora and Joliet, in addition to Hollywood Columbus (OH), Hollywood Toledo (OH), the M Resort (NV), the Meadows (PA) and Hollywood Perryville (MD).

Pursuant to this agreement, GLPI will provide up to $225 million at a 7.75% cap rate for the Aurora project. With respect to the Columbus, Joliet and M Resort projects, PENN may elect to receive up to $350 million of funding in the aggregate from GLPI for real property improvements at then-current market rates, which will incorporate a spread to GLPI's cost of capital.

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OECD Warns Full Effects Of High U.S. Tariffs Yet To Be Felt

OECD Warns Full Effects Of High U.S. Tariffs Yet To Be Felt

The Organisation for Economic Co-operation and Development said in a report on Tuesday that the full impact of the massive hike in trade tariffs announced by the U.S. is yet to be felt though early effects are becoming increasingly evident.

RTTNews | 1h 1min ago

TSX Retreats After Sailing Past 30k Mark For First Ever Time

TSX Retreats After Sailing Past 30k Mark For First Ever Time

Canadian benchmark S&P/TSX Composite Index breached the 30k mark for the first ever time, and moved on to a new high Tuesday morning before paring gains and slipping into negative territory, due largely to profit taking.

RTTNews | 3h 27min ago

Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

The Switzerland market closed on a weak note on Tuesday after a choppy ride as stocks turned in a mixed performance.

RTTNews | 3h 59min ago

European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European markets closed mostly higher on Tuesday with investors digesting the latest batch of regional economic data, and picking up stocks amid expectations of more monetary easing by the Federal Reserve.

RTTNews | 4h 20min ago

Powell Warns There's 'No Risk-Free Path' For Interest Rates

Powell Warns There's 'No Risk-Free Path' For Interest Rates

Following last week's decision to cut interest rates for the first time this year, Federal Reserve Chair Jerome Powell delivered remarks before the 2025 Greater Providence Chamber of Commerce Economic Outlook Luncheon in Warwick, Rhode Island, on Tuesday.

RTTNews | 4h 53min ago

Hungary Holds Rates Steady As Inflation Expected To Remain High

Hungary Holds Rates Steady As Inflation Expected To Remain High

The Hungarian central bank left its interest rates unchanged again, on Tuesday, as policymakers assessed that tight monetary conditions were needed amid forecast that inflation is set to remain beyond the tolerance level in the coming months.

RTTNews | 5h 26min ago

Bay Street Likely To Post New Highs

Bay Street Likely To Post New Highs

Canadian shares are likely to open on a firm note Tuesday morning with higher oil and bullion prices set to trigger buying in energy and materials sectors.

RTTNews | 8h 53min ago

Wall Street Likely To Open Flat

Wall Street Likely To Open Flat

Futures point to a somewhat flat start on Wall Street Tuesday morning. Data on manufacturing and services sector activity in the U.S. in the month of August, due after the opening bell, is likely to provide some direction to the market.

RTTNews | 9h 33min ago

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