UPDATE 1-GLPI raises bid for Pinnacle Entertainment's real estate

April 14, 2015 9:59 PM

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April 14 (Reuters) - Gaming and Leisure Properties Inc , which buys real estate leased to casino operators, has raised its bid for Pinnacle Entertainment Inc's real estate, a person familiar with the deal said Tuesday.

Gaming and Leisure Properties made an offer last Friday, valuing Pinnacle at over $40 per share, which translates to about $2.4 billion, the person said.

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