The Ownership Story of Rivers Casino in Pittsburgh

Rivers Casino in Pittsburgh, Pennsylvania, has become a prominent destination for both gamblers and tourists alike. As a bustling entertainment hub, it has garnered significant attention regarding its ownership. This article delves into the fascinating journey of who owns the Rivers Casino in Pittsburgh, providing insight into the entities behind its success.

The Ownership of Rivers Casino

1. The Gaming and Leisure Properties (GLP)

The Gaming and Leisure Properties (GLP) is the majority owner of Rivers Casino in Pittsburgh. GLP is a publicly traded real estate investment trust (REIT) that specializes in owning and operating gaming and leisure properties. The company was formed in 2013 through the merger of Penn National Gaming and Pinnacle Entertainment.

2. The Pinnacle Entertainment Group

Prior to the merger, the Pinnacle Entertainment Group owned a significant stake in Rivers Casino. Pinnacle Entertainment was a leading casino and hospitality company that operated various properties across the United States. Its acquisition of the former Pittsburgh Riverbend Casino, which later became Rivers Casino, marked its entry into the Pennsylvania gaming market.

3. The Emergence of GLP

Following the merger, GLP became the majority owner of Rivers Casino. The new company's strategy was to focus on owning and operating gaming and leisure properties while allowing its subsidiaries to manage the day-to-day operations. This approach has allowed GLP to diversify its portfolio and expand its presence in the gaming industry.

The Impact of Ownership on Rivers Casino

The ownership structure of Rivers Casino has had a significant impact on its growth and success. Here are some key aspects:

1. Strategic Expansion

Under GLP's ownership, Rivers Casino has expanded its offerings to include a variety of dining options, entertainment venues, and amenities. This strategic expansion has helped the casino maintain its competitive edge in the Pittsburgh market.

2. Community Engagement

GLP has a strong commitment to community engagement. As the owner of Rivers Casino, the company has invested in various community initiatives, including supporting local charities, hosting events, and creating job opportunities for residents.

3. Economic Impact

Rivers Casino has become an economic engine for the Pittsburgh region. The casino generates significant revenue for the local government, which is used to fund public services and infrastructure projects. Additionally, the casino has created thousands of jobs, contributing to the region's economic growth.

Frequently Asked Questions

1. Who owns Rivers Casino in Pittsburgh?

Answer: The Gaming and Leisure Properties (GLP) is the majority owner of Rivers Casino in Pittsburgh.

2. When did GLP acquire Rivers Casino?

Answer: GLP acquired Rivers Casino following the merger of Penn National Gaming and Pinnacle Entertainment in 2013.

3. How has the ownership structure impacted Rivers Casino?

Answer: The ownership structure has allowed for strategic expansion, community engagement, and a significant economic impact on the Pittsburgh region.

4. How many jobs has Rivers Casino created?

Answer: Rivers Casino has created thousands of jobs for residents in the Pittsburgh area.

5. What is the gaming and leisure properties (GLP)?

Answer: The Gaming and Leisure Properties (GLP) is a publicly traded real estate investment trust (REIT) that specializes in owning and operating gaming and leisure properties.