Bally’s Corporation said it has reached a deal to sell its Shreveport and Kansas City, Missouri, casinos for $395 million in a lease-back deal with Gaming and Leisure Properties.
GLPI is the landlord for six other Louisiana casinos, including Boomtown Casino Bossier City, L’Auberge Casino Resort in Lake Charles and the Belle of Baton Rouge. The deal could close by the end of the year, pending regulatory approval.
The Shreveport lease-back deal is part of a $1.59 billion agreement that will provide Bally’s with funding for a downtown Chicago resort that would open in late 2026. The company currently operates a temporary casino in the Windy City.
Bally’s Shreveport is a 30,000-square-foot property with more than 950 slot machines, 50 table games, a poker room, sportsbook and a 400-room hotel.
GLPI is the landlord for seven other Bally’s casinos, including the Hard Rock Hotel & Casino in Biloxi, Mississippi. The company was spun off from Penn Entertainment, the parent company of L’Auberge.
“GLPI has been a great partner for many years. We are excited to expand our relationship as we leverage their development and financing expertise to grow Bally’s with the world class Chicago casino development,” Soo Kim, Bally’s chairman, said in a statement.