Gaming and Leisure Properties Provides Updates on $1.5 Billion Financing Commitments

MT Newswires Live12-05

Gaming and Leisure Properties (GLPI) said Friday it has continued to honor about $1.5 billion in capital commitments to four operating partners across five projects.

The company said it funded $45 million of its $225 million commitment to Caesars Entertainment (CZR) and Dry Creek Rancheria's Caesars Republic Sonoma County project following receipt of a declination letter from the National Indian Gaming Commission. The remainder is a delayed-draw term loan priced at 12.5%, the company said.

The company said it also funded an additional $76 million for Bally's (BALY) Chicago site, leaving about $739 million remaining under its $940 million commitment, and has funded $92.5 million of its $111 million commitment to Bally's Baton Rouge, which is set to open Saturday.

For Penn Entertainment's (PENN) M Resort hotel tower and conference space expansion in Las Vegas, the company said it funded $150 million at a 7.79% cap rate.

For the Ione Band of Miwok Indians' Acorn Ridge project, Gaming and Leisure Properties said it funded $56.6 million of its $110 million term loan as of Thursday. The facility is expected to open in February 2026, it said.

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