Isle Of Capri Up 5% On Rumored Merger With Gaming And Leisure Properties

Isle of Capri Casinos ISLE closed up more than five percent Monday on a rumor it will merge with Gaming and Leisure Properties GLPI.

Citing anonymous sources, Reuters said "advanced talks" on the deal are in progress; however, Reuters said a potential transaction "is weeks away."

Gaming and Leisure Properties is structured as a real estate investment trust that last November was spun out of Penn National Gaming.

Market capitalization for Gaming and Leisure is $3.8 billion vs. Isle of Capri's $340.9 million.

Capri closed Monday at $8.56, up 5.03 percent; Gaming and Leisure gained 2.2 percent in Monday's session, to $33.97.