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…