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aming and Leisure Properties (GLPI) has finalized the acquisition of Bally's Kansas City Casino and Bally's Shreveport Casino & Hotel from Bally's Corporation for $395 million. The transaction includes a cash payment of $388 million and $7 million in LP units, with $56 million allocated to reimburse prior capital expenditures.

    Bally's will use the proceeds to pay down approximately $350 million drawn against its revolving credit facility, allocating the remaining funds for capital expenditures and general corporate purposes. GLPI Chairman and CEO Peter Carlino stated that the transaction is expected to be accretive to their financial results and strengthens their portfolio of 67 high-quality regional gaming assets.

    Bally's Kansas City Casino features a 42,000-square-foot casino with over 900 slot machines, 24 table games, and multiple dining options. The property recently underwent a $70 million renovation and expansion. Bally's Shreveport Casino & Hotel boasts a 30,000-square-foot casino, a 400-room hotel, and various amenities such as restaurants, event spaces, and entertainment venues.