As a result of the transaction structure, Twin River will make the acquisition without any cash outlay.Īs part of the acquisition, Gaming and Leisure Properties, a publicly-traded gaming-focused real estate investment trust, will acquire the Evansville casino real estate for $340 million and lease it back to Twin River for $28 million/year in rent, subject to escalation.
Twin River Worldwide Holdings announced on Tuesday that it has entered into an agreement to acquire the Tropicana Evansville casino operations from Caesars Entertainment for $140 million. Twin River will also acquire unencumbered rights to the sports betting and iGaming skins associated with the Evansville operations to access the Indiana market as part of the transaction. Gaming and Leisure Properties (GLPI), a publicly-traded gaming-focused real estate investment trust, will acquire the Evansville casino real estate for $340 million and lease it back to Twin River for $28 million/year in rent.
