Pursuant to the terms of the transaction, Bally's will immediately lease back both properties and continue to own, control, and manage all the gaming operations of the facilities, Bally's said in a news release Tuesday.
Officially known as a binding term sheet, the transaction is subject to customary regulatory approvals. has entered into an agreement with GLP Capital to sell the real property assets of two properties in Rhode Island for $1 billion - Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel.
