Bally's secures $940M Chicago development funding from GLPI; $395M sale-leaseback of two casinos

Bally's Corp

GLPI to acquire Bally's Kansas City and Shreveport real estate for $395M cash; initial annual rent $32.2M under new Master Lease 2.
GLPI commits up to $940M to fund Chicago casino hard costs; Bally's must invest $560M equity first and retain completion funding.
Chicago lease: $20M annual rent plus 8.5% development rent on funded amounts; initial 15-year term with renewal options.
Conditions include gaming approvals, diligence, no material adverse effect; transaction contingent on Bally's strategic review.

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