Gaming and Leisure Properties (GLPI) has completed the previously announced US$395m acquisition of the land and real estate assets of Bally’s Kansas City Casino and Bally’s Shreveport Casino & Hotel from Bally’s Corporation.
“We are pleased to announce the completion of our sale-leaseback transactions for Bally’s properties in Kansas City and Shreveport, which we expect will be accretive to our financial results,” said Peter Carlino, chairman and CEO of GLPI.
“This transaction was executed at an attractive cap rate and expands our partnership with Bally’s, while strengthening our portfolio which has now grown to include 67 high-quality regional gaming assets.”
Bally’s Kansas City Casino is located on the Missouri River in Kansas City, Missouri and recently completed a $70m renovation and expansion. The property features a 42,000sq.ft casino with over 900 slot machines, 24 table games and more than 50 video poker and keno terminals.
Bally’s Shreveport Casino & Hotel is located along the Red River in downtown Shreveport, Louisiana. The property features a 30,000 sq.ft casino with more than 950 slot machines, over 50 table games, a poker room, and a Bally Bet Sportsbook. It has a 400-room hotel with full-service spa, three on-site restaurants including an award-winning fine dining steakhouse and noodle bar, event spaces, live entertainment and two on-site nightclubs.
