Bally's extends $460M credit facility maturity to 2028

Bally's Corporation (NYSE: BALY) announced it secured an extension of $460 million of its revolving credit facility commitments from October 2026 to October 2028. The casino operator also received unanimous consent from lenders representing $620 million in commitments for the proposed sale and leaseback of its Twin River Lincoln Casino Resort.

The company plans to sell the Twin River Lincoln property to Gaming and Leisure Properties Inc. (NASDAQ: GLPI) for $735 million in cash proceeds before transaction expenses and taxes. The transaction requires additional consent from holders of approximately $630 million in term loans, representing about 33% of outstanding amounts.

Upon completion of the sale and leaseback transaction, Bally's agreed to reduce secured debt and credit facilities by $500 million. This includes a 7.5% permanent reduction of outstanding revolving credit facility commitments to approximately $574 million, followed by pro rata prepayments of term loans and first lien notes representing an approximate 19% reduction.

The combined outstanding balances of Bally's term loans and first lien notes would decrease from approximately $2.4 billion to $1.94 billion if the transaction proceeds and amendments are ratified by term loan lenders.

Separately, Bally's continues working toward completing its announced €2.7 billion sale of Bally's International Interactive business to Intralot S.A., expected to close in the fourth quarter of 2025. The company expects to receive approximately €1.5 billion in cash, with the remaining consideration in Intralot stock, resulting in Bally's owning more than 60% of the combined company's outstanding equity.

Both the amended credit facility and the proposed sale and leaseback transaction require approval from regulatory authorities, according to the company's statement.

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