Gaming and leisure properties, inc. completes previously announced sale leaseback transaction with bally's for black hawk and quad cities properties

Wyomissing, pa., april 04, 2022 (globe newswire) -- gaming and leisure properties, inc. (nasdaq: glpi) (the “company”), announced today that, on april 1, 2022, it completed the previously announced acquisition from bally's corporation (nyse: baly) (“bally's) of the land and real estate assets of bally's three black hawk casinos in black hawk, co and bally's quad cities casino & hotel in rock island, il for $150 million in total consideration. these properties were added to the existing bally's master lease. the initial rent for the lease was increased by $12 million on an annual basis, subject to contractual escalations based on the consumer price index, with a 1% floor and 2% ceiling, subject to cpi meeting a 0.5% threshold.
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