Bally’s Corporation has successfully secured a previously disclosed term loan credit facility due in 2031, which includes $1.1 billion in funded term loans. The company has also finalized the previously announced sale and leaseback of its Twin River Lincoln Casino Resort’s real estate assets.

The term loans are sourced from funds managed by Ares Management, King Street Capital Management, and TPG Credit.

In a separate transaction, the company has completed the Lincoln sale-leaseback in partnership with GLP Capital, L.P., a subsidiary of Gaming and Leisure Properties, Inc. This deal yielded a total consideration of $700 million, prior to transaction expenses and tax provisions.

The cash rent for the Twin River Lincoln property has been set at $56 million annually, with standard annual increases.

Funds from the term loans will be allocated for general corporate purposes, which includes the development projects for Bally’s Bronx and Bally’s Chicago. The company also plans to utilize available cash from the Intralot transaction, which was completed in October 2025, and proceeds from the Lincoln sale-leaseback. Parts of the term loan proceeds are earmarked to fully repay the outstanding $1.47 billion term loans maturing in 2028.

The term loans are backed by nearly all significant assets of the company and its wholly-owned subsidiaries, including the equity stake in Bally’s Intralot S.A. held by the company, subject to standard exceptions and exclusions. Exempted assets include those owned by Bally’s Intralot S.A., certain development properties, non-subsidiaries, and designated unrestricted subsidiaries.

Citizens Capital Markets acted as the financial advisor for Bally’s. Legal expertise was provided by Fried, Frank, Harris, Shriver & Jacobson LLP and Latham & Watkins LLP.