Gaming and Leisure raises bid for Pinnacle
(Corrects headline to "Pinnacle" from "Pinnacle's real estate assets"; corrects paragraph 1 to remove "real estate assets". Corrects paragraph 2 to "real estate assets" from "assets")
July 7 (Reuters) - Gaming and Leisure Properties Inc , which buys real estate leased to casino operators, raised its offer for Pinnacle Entertainment Inc to $47.50 per share from $36.
The new offer values Pinnacle's real estate assets at $5 billion, including debt, GLPI said on Tuesday.
GLPI went hostile with its bid for the assets in March, citing Pinnacle's "failure to engage" in talks.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Simon Jennings)
