So how much is BYD worth as a REIT? ...$10...$14...even $20 a share. Many believe much more than the current pps. It looks like we have found a new way to unlock shareholder value.
Penn National Gaming Inc. ($49.09, +$11.48, +30.52%) said it plans to split its businesses into two publicly traded companies, a gaming-focused real-estate investment trust and a gaming operator. Shares of fellow gaming companies rose broadly higher in response as investors wondered who might be the next firm to take the REIT leap. Ameristar Casinos Inc. (ASCA, $19.10, +$2.25, +13.35%), Boyd Gaming Corp. (BYD, $5.14, +$0.38, +7.98%) and Pinnacle Entertainment Inc. (PNK, $13.04, +$1.23, +10.41%) were among those in play.