Gaming and Leisure Properties Completes Previously Announced $395 Million Sale Leaseback Transaction with Bally’s for Kansas City and Shreveport Properties
Gaming and Leisure Properties, Inc. (GLPI)
Last gaming and leisure properties, inc. earnings: 4/30 04:15 pm
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Source: GlobeNewswire
WYOMISSING, Pa., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) (“GLPI” or “the Company”), announced that it has completed the previously announced $395 million acquisition of the land and real estate assets of Bally’s Kansas City Casino and Bally’s Shreveport Casino & Hotel from Bally’s Corporation (NYSE: BALY) (“Bally’s”). The two properties have been put into a new Bally’s Master Lease that is cross-defaulted with the Company’s existing Bally’s Master Lease, with initial annual cash rent of $32.2 million representing an 8.2% initial cash capitalization rate. Total rent coverage on the Kansas City and Shreveport assets is expected to be 2.2x in the first year of ownership. Peter Carlino, Chairman and CEO of GLPI commented, “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. This transaction was execu
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News
- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $55.00 price target on the stock.MarketBeat
- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) is now covered by analysts at Barclays PLC. They set an "equal weight" rating and a $54.53 price target on the stock.MarketBeat
- Gaming and Leisure Properties Completes Previously Announced $395 Million Sale Leaseback Transaction with Bally's for Kansas City and Shreveport Properties [Yahoo! Finance]Yahoo! Finance
- Bally's Completes Previously Announced Sale Lease-Back of Bally's Kansas City and Bally's Shreveport to Gaming and Leisure Properties [Yahoo! Finance]Yahoo! Finance
- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating. They now have a $54.00 price target on the stock, up previously from $49.00.MarketBeat
GLPI
Earnings
- 10/24/24 - Miss
GLPI
Sec Filings
- 12/10/24 - Form 4
- 12/4/24 - Form 8-K
- 11/21/24 - Form SCHEDULE
- GLPI's page on the SEC website