Sep. 3 at 5:54 PM
$FLL Gaming & Leisure Properties Inc. (GLPI) announced a
$225 million high-interest loan to the Dry Creek Rancheria of Pomo Indians early on September 2. The loan carries a 12.8 percent interest rate and comes in two tranches. The purpose of the two loans is to supersede the current River Rock Casino. It will be supplanted by a Caesars Republic-branded casino.
Hope this isn’t the going rate or fll is in trouble. The existing bonds are well over 10%