Gaming & Leisure Properties and Bally's completed the acquisition of Tropicana Evansville from Caesars Entertainment for $480m.

Twin River Worldwide, an operator of nine casinos across five states, completed the acquisition of Tropicana Evansville, a casino hotel and entertainment complex in downtown Evansville, Indiana, from Caesars Entertainment, an American casino and hotel company, for $480m. As part of the acquisition, Gaming and Leisure Properties, a publicly traded gaming-focused REIT, acquired the Evansville casino real estate for $340m and lease it back to Twin River for $28m a year in rent, subject to escalation. GLPI also acquired the real estate at Twin River’s Dover, Delaware, facility for $144m and lease it back to Twin River for $12m a year in rent. "I want to thank the Team Members of Evansville for all of their hard work and wish them continued success under Bally's leadership," Tom Reeg, Caesars Entertainment CEO.