---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-178062"
form_type: "8-K"
ticker: "GLPI"
cik: "0001575965"
company_name: "Gaming & Leisure Properties, Inc."
filed_at: "2024-07-12T23:59:59+00:00"
generated_at: "2026-05-31T21:09:01.234097+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# GLPI invests $1.585B in Bally’s: Chicago development, KC/Shreveport sale-leasebacks at 8.3% yield

## Summary
- Acquires Chicago land for $250M and funds up to $940M construction hard costs at 8.5% yield; total Chicago investment $1.19B.
- Purchases Bally’s Kansas City and Shreveport real estate for $395M, leased back at initial rent of $32.2M (8.2% cap rate).
- Reduces purchase option for Bally’s Lincoln from $771M to $735M (8.0% yield); GLPI gains call right from Oct 1, 2026.
- KC and Shreveport closings expected as early as Q4 2024; Chicago funding runs Aug 2024–Dec 2026, subject to approvals.
- Blended initial cash yield of 8.3%; funding via cash on hand, revolver, and potential capital markets; rent coverage 2.0x–2.4x.

## SEC filing metadata
- accession: 0001193125-24-178062
- form_type: 8-K
- ticker: GLPI
- cik: 0001575965
- company_name: Gaming & Leisure Properties, Inc.
- filed_at: 2024-07-12T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1575965/000119312524178062/0001193125-24-178062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1575965/000119312524178062/d779010d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-178062
- JSON: https://secwatch.observer/filing/0001193125-24-178062.json
- Plain text: https://secwatch.observer/filing/0001193125-24-178062.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.