In December 2019, Parx Casino will be under new ownership. Greenwood Gaming and Entertainment Inc., the current owner of Parx Casino, has agreed to sell the property to Gaming and Leisure Properties Inc.
(GLPI) for $470 million. The sale is expected to be completed by the end of the year.
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PRO TIP:Parx Casino is owned and operated by Greenwood Gaming & Entertainment, Inc., a subsidiary of Greenwood Racing, Inc. The casino is located in Bensalem Township, Bucks County, Pennsylvania.
This is not the first time that Parx Casino has changed hands. The casino was originally owned by Foxwoods, but was sold to Greenwood Gaming in 2014 for $280 million.
Greenwood then invested an additional $50 million into the property to improve its facilities and offerings.
Now, just five years later, Greenwood is selling Parx Casino for nearly double what they paid for it. So, who owns Parx Casino? It looks like the answer will soon be GLPI.
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