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Gaming and Leisure nets $826M in stock offering

Gaming and LeisureProperties Inc. closed its underwritten public offering of 28,750,000 shares of common stock, priced at$30.00 per share, generating net proceeds of $826 million.

The offering included the full exercise of the underwriters'option to purchase 3,750,000 additional shares.

Gaming and Leisure intends to use the net proceeds to fund partof its acquisition ofthe bulk of Pinnacle EntertainmentInc.'s real estate assets, including the repayment, redemption and/ordischarge of a portion of certain debt associated with Pinnacle and the paymentof transaction-related fees and expenses.

BofA Merrill Lynch, J.P. Morgan, Wells Fargo Securities, FifthThird Securities, UBS Investment Bank, Credit Agricole CIB, Nomura, SunTrust RobinsonHumphrey, Barclays and Oppenheimer & Co. are serving as joint book-running managersfor the offering.