As part of the deal, Bally’s will lease back the land from the real estate firm in a ground lease agreement. The agreement consists of an initial 99-year term, which will be followed by ten separate 20-year renewals.
In addition, the firm will invest up to $300m for Bally’s Chicago’s development through the deal.
Read the full story on iGB North America.
Original article: https://igamingbusiness.com/casino-games/land-based-casino/ballys-closes-500m-sale-leaseback-with-private-equity-firm/
