Bally's increases revolving credit facility to $670 million

Bally's Corporation (NYSE: BALY) announced it secured additional commitments to increase its revolving credit facility to $670 million, with $510 million allocated to an extended maturity tranche due October 1, 2028.

The company stated that all revolving credit facility lenders, representing the full $670 million in commitments, have consented to the proposed sale and leaseback of Twin River Lincoln Casino Resort to Gaming and Leisure Properties Inc. (NASDAQ: GLPI) for $735 million in cash proceeds before transaction expenses and taxes.

Bally's requires consent from holders of approximately $600 million of term loans, representing about 32% of currently outstanding amounts, to proceed with the transaction. The amended financing and proposed sale-leaseback transaction are subject to regulatory approval.

Upon completion of the sale-leaseback, Bally's agreed to reduce secured debt and credit facilities by $500 million. This includes a permanent reduction of outstanding revolving credit facility commitments by 7.5% to approximately $620 million, followed by pro rata prepayment of outstanding term loans and first lien notes representing an approximate 19% reduction.

The company expects the combined outstanding balances of term loans and first lien notes to decrease from approximately $2.4 billion to approximately $1.92 billion if the transaction is completed and ratified by term loan lenders.

Separately, Bally's continues working toward closing its previously announced €2.7 billion sale of Bally's International Interactive business to Intralot S.A., expected to close during the fourth quarter of 2025.

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