Bally’s amends revolving credit facility, secures approval for casino sale-leaseback
Summary
Bally’s Corporation has won unanimous lender approval to amend its $620m revolving credit facility (RCF) to permit a sale-and-leaseback of its Twin River Lincoln Casino Resort with Gaming and Leisure Properties Inc (GLPI). The company extended $460m of commitments under the facility by two years, moving part of the RCF maturity from 1 October 2026 to 1 October 2028. The Twin River transaction is expected to generate about $735m in cash before expenses and taxes and would reduce secured debt and credit facilities outstanding by around $500m once complete. The deal remains subject to regulatory approvals and consents from holders of roughly $630m of term loans. Separately, Bally’s is progressing a planned €2.7bn sale of its International Interactive unit to Intralot, with a mix of cash and stock consideration expected in Q4 2025.
Key Points
- Lenders unanimously approved Bally’s amended $620m revolving credit facility to allow the proposed Twin River sale-leaseback with GLPI.
- $460m of commitments under the RCF were extended by two years (maturity pushed to 1 Oct 2028 for part of the facility).
- The Twin River deal is expected to produce approximately $735m in cash proceeds before expenses and taxes.
- Completion would cut secured debt and credit facilities outstanding by about $500m; term loan and first-lien balances are expected to fall to roughly $1.94bn from $2.4bn.
- The transaction still needs regulatory approval and consent from holders of about $630m of term loans; Bally’s also advances a €2.7bn sale of its International Interactive unit to Intralot.
Why should I read this?
Quick heads-up: if you care about casino finance, debt reshuffles or Bally’s strategy, this is the one. The story explains how Bally’s is freeing up serious cash and trimming secured debt without selling operations outright — a tidy move that reshapes the company’s balance sheet and fuels the bigger plan to sell its interactive arm. Short, sharp and useful if you track industry M&A or investment risk.
Context and relevance
Sale‑and‑leaseback deals and RCF amendments are common tools for gaming operators to deleverage and monetise real estate while keeping operational control. Bally’s move mirrors wider industry trends where operators monetise property assets to strengthen liquidity and fund strategic transactions. The linked sale of the International Interactive unit to Intralot — partly in stock — also signals consolidation and cross-border strategic repositioning in igaming. Investors, lenders and competitors should watch regulatory approvals and the consent process for remaining term‑loan holders closely, as those will determine timing and ultimate balance‑sheet impact.
