We are particularly excited to gain access to the attractive Indiana gaming market, in which we will look to significantly advance our mobile and online sports betting and iGaming initiatives.'Ĭurt Magleby, managing director of Citizens’ Gaming, Lodging and Commercial Real Estate team, said: “Bally’s Corporation is a significant relationship to Citizens on multiple levels. The Evansville and Jumers properties represent excellent additions to our portfolio and allow Bally’s access into two new states at attractive valuations. landscape for attractive, accretive and strategic opportunities to expand our gaming footprint and enhance our interactive offerings. George Papanier, president and chief executive officer of Bally’s Corporation, said: “The Citizens M&A team continues to be an invaluable strategic advisor to us as we comb the U.S. Bally’s also announced the completion of its acquisition of Jumer’s Casino & Hotel for $120 million, which was funded using available borrowings under its Citizens-led revolving credit facility. Tropicana Evansville has 79,000 square feet of enclosed space, including 45,000 square feet of casino gaming, four dining venues, a racetrack and sportsbook.

As a result of this structure, no cash outlay was required by Bally’s at closing. GLPI also acquired the real estate associated with Bally’s Dover Downs casino for $144 million, which it is leasing back to Bally’s for $12 million per year, also subject to escalation. (“GLPI”) acquired the real estate associated with Tropicana Evansville for $340 million, which it is leasing to Bally’s for $28 million per year, subject to escalation.

As part of the transaction, an affiliate of Gaming & Leisure Properties, Inc. PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as financial advisor to Bally’s Corporation (NYSE: BALY) on its acquisition of Tropicana Evansville in Evansville, IN, from Caesars Entertainment Corporation, as well as the acquisition of Jumer’s Casino & Hotel in Rock Island, IL, from Delaware North Companies Gaming & Entertainment, Inc.Īs previously announced, Bally’s acquired Tropicana Evansville for $140 million.

Citizens Advises Bally’s Corporation on its Acquisitions of Tropicana Evansville and Jumer’s Casino & Hotel

Tropicana evansville adp