The Tropicana Evansville property is a large facility, with a 45,000 square-foot gaming floor. “We are excited to welcome the Tropicana Evansville into the Bally’s family and look forward to the opportunity to provide our first-in-class land-based and interactive entertainment offerings to the Indiana gaming market,” Papanier said. We are excited to welcome the Tropicana Evansville into the Bally’s family” Both the Evansville and Dover properties are part of a 15-year master lease agreement between GLPI and Bally’s, with four five-year renewal options.īally’s Corporation president and chief executive George Papanier commented on the new deal, stating that the closing marks another major accomplishment for the company, as it looks to continue its growth and diversification strategy. GLPI also bought the real estate associated with the Bally’s Dover Downs casino for $144m and is leasing that back to Bally’s for $12m annually. GLPI is leasing the property to Bally’s for $28m per year, though that figure could increase down the road. The sale closed with Bally’s Corporation obtaining the Tropicana’s casino operations, while Gaming & Leisure Properties (GLPI) paid $340m for the casino’s real estate. The transaction included providing Bally’s with the unencumbered rights to sports betting and online gaming skins for the Evansville property. The company paid $140m for the property and will now be able to expand its reach in the growing online gaming market of the state. The company acquired the property from Caesars Entertainment, Inc., with the agreement first announced late last year. Bally’s Corporation announced this week that the acquisition of the Tropicana Evansville Casino in Indiana is complete.
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