June 30--Isle of Capri Casinos Inc., based in Creve Coeur, was reported today to be in talks to sell itself to Gaming and Leisure Properties Inc., an owner of casino real estate properties.
The report by financial new service Reuters cited unidentified sources said to be familiar with the matter. According to the report, a potential deal remained weeks away and could still unravel.
Gaming and Leisure Properties, based in Wyomissing, Penn., is a real estate investment trust created last year as a spinoff of Penn National Gaming's real estate assets.
In the St. Louis area, Penn operates the Argosy Alton casino and the Hollywood casino in Maryland Heights.
An Isle of Capri spokeswoman declined to comment on the Reuters report.
Isle of Capri is a regional gaming company with 16 casino properties in seven states. Its Missouri casinos are in Boonville, Cape Girardeau, Caruthersville and Kansas City.
Tim Bryant covers commercial real estate, development and other business stories for the Post-Dispatch. He blogs at Building Blocks, the Post-Dispatch development blog.
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