Gaming & Leisure closes on $480M Ind. casino-hotel deal

Gaming & Leisure Properties and Bally’s Corp. have closed on their $480 million purchase of Tropicana Evansville from Caesars Entertainment. Under the deal, Gaming & Leisure Properties has acquired the Indiana casino-hotel’s real estate for $340 million, and it is leasing the property to Bally’s for $28 million per year, with provisions for escalation.