On Friday, Bally’s Corporation, a major U.S. casino operator, revealed that it received unanimous consent from its lenders for a $620 million revolving credit facility (RCF) aimed at financing the sale and leaseback of its Twin River Lincoln Casino Resort. Additionally, commitments under this facility have been extended by two years, totaling $460 million.

The revised agreement moves the maturity date of a portion of the revolving credit facility from October 1, 2026, to October 1, 2028. Lenders also granted approval for the Twin River Lincoln transaction with Gaming and Leisure Properties Inc (GLPI), which is anticipated to provide $735 million in cash before expenses and taxes.

Upon completion of this transaction, Bally’s plans to reduce its outstanding secured debt and credit facilities by $500 million, which includes a 7.5% decrease in the revolver to $574 million and pro rata payments towards its term loan and first-lien notes. The company expects its term loan and first-lien balances to decrease to approximately $1.94 billion from the initial $2.4 billion.

This transaction is contingent upon receiving regulatory approvals as well as corresponding assent from holders of roughly $630 million in term loans, which constitutes about a third of the outstanding balances.

In a related development, Bally’s is advancing towards finalizing the previously announced €2.7 billion ($3.17 billion) sale of its International Interactive unit to Greece’s Intralot S.A. in the fourth quarter of 2025. Bally’s expects to receive roughly €1.5 billion in cash, with the remainder provided in Intralot stock, resulting in ownership of over 60% in the combined entity, thus entitling it to dividend distributions in accordance with Greek law.

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