“We are delighted to add Live! Maryland to our portfolio, further diversify our roster of leading operators, and gain additional access to the rapidly growing Baltimore-Washington corridor via a truly world-class property. Beginning in the third year of the lease, the rent will increase a fixed 1.75% per year. Cordish will now lease the land and real estate assets of Live Casino & Hotel Maryland from GLPI for an initial term of 39 years (maximum term of 60 years) with an initial annual cash rent of $75.0 million.
