Bally’s Corporation has secured funding for a permanent casino in Chicago from Gaming and Leisure Properties thanks to a new lease agreement. This will allow the electronics company’s real estate in Chicago to proceed after a period of financial uncertainty.
According to the announcement, an affiliate of Gaming and Leisure Properties agreed to acquire the property underlying the project and modify existing land leases through a new Master Lease Agreement (Chigaco MLA) based in Chicago, Bali.
The rent can be increased to $20 million annually. In addition, the Chicago MLA can provide an additional $940 million in construction funding for the project’s difficult costs through a monthly lottery.
The Chicago MLA will have an initial 15-year period and a variety of renewal options. 슬롯사이트 순위
Under the agreement, GLPI will also be able to acquire and lease additional real estate interest underlying Bali’s Kansas City and Bali’s Shreveport for $395 million. Bali also plans to modify its donation agreement with GLPI and sell and lease Twin River Lincoln for $735 million.
Under Chicago MLA, Bali’s Chicago will receive $2.07 billion in funding from GLPI to strengthen the strategic alliance between the two companies. GLPI is an ideal partner for Bali, which has an impressive track record in the successful development and construction of casino resort projects.
