Bally’s will pay $150m for the Tropicana’s non-land assets. It will then lease the underlying land of the Tropicana property for 50 years at an annual price of $10.5m.
In addition, the operator enter a sale-and-leaseback transaction to Bally’s properties in Black Hawk, Colorado and Rock Island, Illinois for $150m, payable by GLPI.
Read the full tory on iGB North America.
Image: Supercarwaar.