 WYOMISSING, Pa., April 13, 2021 GLOBE NEWSWIRE -- Gaming and Leisure Properties, Inc. NASDAQ: GLPI GLPI or the Company announced today that it entered into a binding term sheet with Ballys Corporation NYSE: BALY Ballys to acquire the real estate assets of Ballys casino property in Black Hawk, CO and the property it plans to acquire in Rock Island, IL, in a transaction which is subject to regulatory approval and expected to close later this year. Total consideration for the acquisition is 150 million. The parties expect to add the properties to the master lease they are entering into in connection with Ballys previously announced acquisitions of Tropicana Evansville and Dover Downs Hotel Casino GLPI-BALY master lease which will generate incremental rent of 12.0 million. Normalized rent coverage on the assets is expected to be 2.25x in the first calendar year post-acquisition. The acquisitions of the real estate assets of Ballys properties in Rock Island and Black Hawk are expected to close in early 2022. 