 Ballys Corp NYSE: BALY has acquired the iconic Tropicana Las Vegas from the real estate investment trust Gaming and Leisure Properties Inc NASDAQ: GLPI for 308 million. What Happened: As part of the transaction, the Providence, Rhode Island-headquartered Ballys has entered into a sale-and-leaseback transaction with GLPI relating to Ballys Black Hawk in Colorado and its Rock Island, Illinois, casino properties for a cash purchase price of 150 million payable by GLPI. 