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He founded Wiener Realty in 1995. [4] Through his company, Pinnacle Group, Wiener manages about $2 billion worth of New York City property, 10,000 apartments, almost all rent-regulated, in every borough except Staten Island.
In November 2014, Pinnacle announced a plan to spin-off a real estate investment trust with the real estate assets of its 15 casinos. [16] Gaming and Leisure Properties (GLPI) then approached Pinnacle with an offer to buy those assets, which it said would be simpler and faster than Pinnacle's plan. [17]
The casino was opened by Pinnacle Entertainment in May 2005. [4] In April 2016, the property was sold to Gaming and Leisure Properties along with almost all of Pinnacle's real estate assets, and leased back to Pinnacle. [5] [6] Penn National Gaming (now Penn Entertainment) acquired Pinnacle in October 2018, including the operations the resort. [7]
Pinnacle did not respond to the offer, so GLPI went public with its offer in March 2015. [12] In July, the companies reached a deal for GLPI to buy 14 of Pinnacle's 15 properties for $4.75 billion in stock, and lease them back to Pinnacle, with rent starting at $377 million per year. [13] The acquisition was completed in April 2016. [14]
In October 2018, Boyd Gaming acquired Belterra's operations from Pinnacle, along with three other casinos. [13] The sale was made to enable Penn National Gaming 's acquisition of Pinnacle; the two companies together owned three casinos in Indiana (Belterra, Ameristar East Chicago , and Hollywood Casino Lawrenceburg ), while state law prohibits ...
Upon first approach, Republic Airways Flight 4514 diverts from course, circles around, and lands during a second attempt at Reagan National Airport.