GLPI acquires Bally’s Lincoln real estate for $700 million
Gaming and Leisure Properties (GLPI) acquired the real estate assets of Bally’s Twin River Lincoln Casino Resort in Rhode Island for $700 million, the company said. The deal is funded mainly through debt and includes an initial cash rent of $56 million under a lease running to 2039, with four five-year renewal options.
GLPI gains lease income from Bally’s Lincoln, while Bally’s faces initial cash rent under a lease running to 2039.