GLPI executives maintain support for Bally’s Chicago casino project
Gaming & Leisure Properties executives said the slowdown in construction at Bally’s Chicago casino had not changed GLPI’s outlook on the project during its third-quarter earnings call. They said the $1.7bn resort was roughly two-thirds complete and that its hotel and casino were expected to be weather-tight by December. GLPI said project delays could affect Bally’s repayment timing and financial position, while its own credit risk had not changed.
GLPI’s comments indicate that delays may affect Bally’s cash flow and repayment timing under the project financing.