In addition, Bally's will pay a $9 million transaction fee at closing.īally’s is a major player among real money online casino operators in the United States and it currently owns and manages 14 retail casinos across 10 states, a horse racetrack in Colorado and has access to OSB licenses in 18 states. The Master Lease has an initial term of 15 years (with 14 years remaining) followed by four five-year renewals at the tenant's option.

and Bally's, with incremental rent of $76.3 million. “The transaction will provide the company with significant, long-term liquidity, ensuring that Bally's is best positioned to continue executing its capital and strategic plan, as well as to capitalize on future opportunities presented in the market,” Bally's Chief Financial Officer Bobby Lavan said in the release.īoth properties are expected to be added to the existing Bally's Master Lease between Gaming and Leisure Properties Inc. Pursuant to the terms of the transaction, Bally's will immediately lease back both properties and continue to own, control, and manage all the gaming operations of the facilities, Bally's said in a news release Tuesday.

Officially known as a binding term sheet, the transaction is subject to customary regulatory approvals. has entered into an agreement with GLP Capital to sell the real property assets of two properties in Rhode Island for $1 billion - Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel.

New hotel at twin river casino