Business
Gaming and Leisure Properties Provides Updates on Recent Financing and Development Activities
WYOMISSING, Pa., Dec. 05, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company” or “GLPI”) today provided updates on
About this update from Gaming And Leisure Properties, Inc.
[{"type":"text","content":"WYOMISSING, Pa., Dec. 05, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company” or “GLPI”) today provided updates on several recent progress milestones associated with four operating partners across five projects. In total, these five projects amount to approximately $1.5 billion of GLPI capital commitments. GLPI is providing a summary of recent events related to the following project commitments: 1) Caesars Republic Sonoma County, 2) Bally’s Chicago, 3) Bally’s Baton Rouge, 4) PENN Entertainment’s M Resort, and 5) Ione Band of Miwok Indians’ Acorn Ridge. Receipt of NIGC Declination Letter Initiates the Funding for Caesars Republic Sonoma County Following the recent receipt of the declination letter from the National Indian Gaming Commission (NIGC), GLPI funded its $45 million share of the $200 million term loan B (SOFR +900) tranche. The $45 million participation in the term loan B is part of GLPI’s broader $225 million commitment to the project, with the remaining $180 million commitment in the form of a delayed draw term loan, priced at 12.5%. Of the $225 million total GLPI commitment, no less than $112.5 million, and up to a maximum of $180 million, will convert to a 45-year sublease, at a cap rate of 9.75%, upon or prior to maturity of the 6-year term loans. Caesars Entertainment and Dry Creek Rancheria broke ground on the new four+ star resort in August of 2025. When completed, the resort, located just outside of Healdsburg, California, and in the heart of Sonoma wine country, will feature a premier gaming experience, overlooking the Alexander Valley and Russian River, with 1,000 slot machines and 28 table games, a 100-room hotel, four restaurants, three bars, a luxury spa, pool, and fitness center. The project is expected to be completed in the summer of 2027. Bally’s Chicago Funding Continues Construction activity continues on the Bally’s Chicago site, with the exterior shell rising, on average, two floors per week. Following its approximately $125 million initial funding in October, GLPI funded an additional $76 million, leaving approximately $739 million of remaining funding under the $940 million commitment. When complete, the project will bring an iconic, world-class entertainment destination to the city of Chicago, featuring a 178,000 square-foot casino with over 3,300 slots and ...