WYOMISSING, Pa., April 2, 2014 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (Nasdaq:GLPI) (the "Company"), the first gaming-focused REIT in North America, today announced that Curtis Magleby has joined the Company as Senior Vice President of Corporate Development.
Mr. Magleby joins GLPI after three years at Cushman and Wakefield where he served as Senior Managing Director of Capital Markets and the U.S. Western Region leader. In that role, he oversaw the company's Investment Sales, Debt & Equity Finance and Investment Banking divisions. Prior to Cushman and Wakefield, Mr. Magleby was with Wachovia Securities where he was a Managing Director in the company's Gaming and Lodging Investment Banking unit. Before joining Wachovia, Mr. Magleby held various roles at Lehman Brothers and Salomon Smith Barney. He holds a bachelor's degree in Statistics with an emphasis in Business from Brigham Young University.
At GLPI, Mr. Magleby will be responsible for the identification and acquisition of gaming assets across the United States.
"We are pleased to have Curt, a 22 year industry veteran, join GLPI. As we seek to expand our portfolio and in many cases, provide financing solutions for gaming operators, Curt's extensive experience in the gaming and lodging sector as well his deep financing and transaction expertise make him a valuable addition to our executive team," stated Mr. Peter Carlino, Gaming and Leisure Properties, Inc. Chairman and Chief Executive Officer.
About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in "triple net" lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. GLPI expects to grow its portfolio by aggressively pursuing opportunities to acquire additional gaming facilities to lease to gaming operators. GLPI also intends to diversify its portfolio over time, including by acquiring properties outside the gaming industry to lease to third parties. GLPI intends to qualify to be taxed as a real estate investment trust ("REIT") for United States federal income tax purposes commencing with the 2014 taxable year and will be the first gaming-focused REIT.
CONTACT: Investor Relations - Gaming and Leisure Properties, Inc. Dan Foley T: 203-682-8312 Email: Dan.Foley@icrinc.com Bill Clifford T: 610-401-2900 Email: BClifford@glpropinc.comSource:Gaming and Leisure Properties, Inc.