Bally’s amends revolving credit facility, secures approval for casino sale-leaseback

U.S. casino operator Bally’s Corporation announced on Friday it won unanimous approval from lenders on its $620 million revolving credit facility (RCF) for the proposed sale and leaseback of its Twin River Lincoln Casino Resort and extended $460 million in commitments under the facility by two years. 

The amended agreement pushes the maturity of part of its revolving credit facility from October 1, 2026 to October 1, 2028. Lenders also consented to the Twin River Lincoln deal with Gaming and Leisure Properties Inc (GLPI), which is expected to generate $735 million in cash before expenses and taxes.

Once the transaction closes, Bally’s will cut secured debt and credit facilities outstanding by $500 million, including a 7.5% reduction in the revolver to $574 million and pro rata repayments on its term loan and first lien notes. The company expects its term loan and first lien balances to fall to about $1.94 billion from $2.4 billion.

The transaction remains subject to regulatory approvals as well as similar consents from holders of roughly $630 million of term loans, representing about a third of outstanding balances.

Separately, Bally’s is making progress toward completing the previously announced €2.7 billion ($3.17 billion) sale of its International Interactive unit to Greece’s Intralot S.A. in the fourth quarter of 2025. Bally’s expects to receive about €1.5 billion in cash and the remainder in Intralot stock, which would give it more than 60% ownership of the combined company and entitle it to dividend distributions under Greek law.