Gaming Property Investment Overview
GLPI to Acquire Assets in Accretive Transaction with Bally's
Transaction Announced 4/13/21 - New Additions to Master Lease Expand its Geographic Diversification
Additions to Bally's Master Lease
JUMER'S
CASINO & HOTEL
Combined Valuation Metrics
KONGATES C
MARDI GRAS
CASINO
GOLDEN GULER CASINO-
$150M
Real Estate
8.0%
Purchase Price
Cap Rate
MARDI GRAS
CASINO
MARDI GRAS
2.25x
Four Wall Coverage¹
Jumers Casino
Mardi Gras Casino
Rock Island, IL
Blackhawk, CO
Added to
35-Year
Master Lease²
Investment Highlights
Transaction Accretive to Earnings and Features Embedded Rent
Growth
Conservative Structure with Well-Covered Rent and Corporate
Guaranty
Enhanced Portfolio Diversification
1.
i
Calculated based on expected run-rate EBITDAR of $23M per Bally's, reflected in 12/10/20 investor presentation.
2. The parties expect to add the properties to the master lease they are entering into in connection with Bally's previously announced acquisitions
of Tropicana Evansville and Dover Downs Hotel & Casino
Note: This transaction is subject to regulatory approvals and closing conditions
Source: Company Filings and Earnings Releases.
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