Bally’s has completed the sale of its Kansas City Casino and Shreveport Casino & Hotel land and real estate assets to Gaming & Leisure Properties, Inc. (GLPI) for $395m.

the company will rent the properties back to Bally’s at an initial annual rate of $32.2m

GLPI, a US-based real estate investment trust which specializes in casinos, announced the acquisition on Tuesday. The company will rent the properties back to Bally’s at an initial annual rate of $32.2m, representing an 8.2% cash capitalization rate.

Bally’s Kansas City Casino is located in Kansas City, Missouri, and has just completed an expansion and renovation costing $70m. Bally’s Shreveport Casino & Hotel in Shreveport, Louisiana, meanwhile, features over 950 slot machines, 50 table games, a poker room, and a Bally Bet Sportsbook.

In a press release, Chairman and CEO of GLPI Peter Carlino stated: “We are pleased to announce the completion of our sale-leaseback transactions for Bally’s properties in Kansas City and Shreveport, which we expect will be accretive to our financial results.

“This transaction was executed at an attractive cap rate and expands our partnership with Bally’s, while strengthening our portfolio which has now grown to include 67 high-quality regional gaming assets.”

The move is the latest in a series of deals between the two companies this year, with GLPI most recently acquiring the land for Bally’s new Chicago casino, which is slated to open in September 2026.