WYOMISSING, Pa., April 04, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”), announced today that, on April 1, 2022, it completed the previously announced acquisition from Bally's Corporation (NYSE: BALY) (“Bally’s) of the land and real estate assets of Bally's three Black Hawk Casinos in Black Hawk, CO and Bally’s Quad Cities Casino & Hotel in Rock Island, IL for $150 million in total consideration. These properties were added to the existing Bally’s Master Lease. The initial rent for the lease was increased by $12 million on an annual basis, subject to contractual escalations based on the Consumer Price Index, with a 1% floor and 2% ceiling, subject to CPI meeting a 0.5% threshold.
Gaming and Leisure Properties, Inc. Completes Previously Announced Sale Leaseback Transaction with Bally’s for Black Hawk and Quad Cities Properties
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