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Bally's Corporation acquires Tropicana Evansville casino in series of transactions valued at $624 million in the aggregate

June 2021

Client(s) Bally's Corporation

Jones Day advised Bally's Corporation in the $624 million acquisition of the Tropicana Evansville casino operations from Caesars Entertainment, Inc. As part of the acquisition, Gaming and Leisure Properties, Inc. ("GLPI"), a publicly traded gaming-focused real estate investment trust, will acquire the Evansville casino real estate for $340 million and lease it back to Bally's Corporation for $28 million a year in rent, subject to escalation. GLPI will also acquire the real estate at Bally's Corporation’s Dover, Delaware, facility for $144 million and lease it back to Bally's Corporation for $12 million a year in rent, subject to escalation.

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