Milbank LLP advised The Cordish Companies (“Cordish”) in connection with the definitive agreement for the sale-leaseback of the real estate assets of Live! Casino & Hotel Maryland, Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh to Gaming and Leisure Properties, Inc. (“GLPI”) for an aggregate purchase price of approximately $1.81 billion.
The Maryland transaction is expected to close by year-end and the Pennsylvania transactions are expected to close in early-2022, subject to required regulatory approvals and the satisfaction of other customary closing conditions.
The Milbank deal team was led by Real Estate partner Kevin O'Shea, with support from Real Estate associates Kieran Murphy, Nicole King and Christina Wing, Global Corporate partner Casey T. Fleck, and Tax partner Russell J. Kestenbaum and associate Archan J. Hazra.
