Quote of the Day

“We have a tough time envisioning a scenario where Pinnacle’s board and management could create the same value in the same time frame that GLPI’s deal would, and we don’t see the likelihood of a superior bid from another entity” — J.P. Morgan analyst Joseph Greff on the continued sparring between Gaming & Leisure Properties and Pinnacle Entertainment. GLPI just raised its offer for Pinnacle by 32%.