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Gaming and Leisure Properties completes sale for Black Hawk and Quad Cities properties

4 Apr 2022

(PRESS RELEASE) -- Gaming and Leisure Properties, Inc., announced today that, on 1 April 2022, it completed the previously announced acquisition from Bally's Corporation 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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