Bally’s recently finalized the sale of its Kansas City Casino and Shreveport Casino & Hotel properties to Gaming & Leisure Properties, Inc. (GLPI) for a total of $395 million. GLPI, a US-based real estate investment trust specializing in casinos, announced the acquisition, which includes an agreement to lease the properties back to Bally’s at an initial annual rate of $32.2 million, representing an 8.2% cash capitalization rate.
The Kansas City Casino, located in Missouri, recently underwent a $70 million expansion and renovation. On the other hand, the Shreveport Casino & Hotel in Louisiana boasts over 950 slot machines, 50 table games, a poker room, and a Bally Bet Sportsbook.
In a statement, GLPI’s Chairman and CEO, Peter Carlino, expressed his satisfaction with the completion of the sale-leaseback transactions, anticipating positive financial results from the deal. He emphasized the strategic importance of the transaction in expanding the partnership between GLPI and Bally’s, while also strengthening GLPI’s portfolio, which now includes 67 high-quality regional gaming assets.
This transaction is part of a series of collaborations between the two companies this year, with GLPI recently acquiring the land for Bally’s upcoming Chicago casino, set to open in September 2026. The ongoing partnership between GLPI and Bally’s highlights a mutually beneficial relationship that continues to grow and evolve.
Overall, this recent deal underscores Bally’s commitment to strategic partnerships and expansion in the gaming industry, while also showcasing GLPI’s expertise in real estate investment within the casino sector. The successful completion of this transaction sets the stage for continued growth and collaboration between these two industry leaders.