8-K - Bally's Corporation | StockGist

AI Analysis

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Bally’s Corporation entered into a new $1.1 billion term loan credit facility due 2031 with Ares Management Credit funds, King Street Capital Management, and TPG Credit, and completed the sale and leaseback of Twin River Lincoln Casino Resort real estate assets to GLP Capital, L.P. for $700 million, with initial annual rent of $56 million. Proceeds will repay $1.47 billion in existing term loans maturing in 2028 and support general corporate purposes including Bally’s Bronx and Chicago developments.

Key Takeaways

1Entered $1.1 billion term loans due 2031 from Ares Management Credit funds, King Street Capital Management, and TPG Credit

2Completed Twin River Lincoln sale leaseback for $700 million total consideration before expenses and taxes

3Initial cash rent for Twin River Lincoln is $56 million per annum with annual escalators

4Proceeds from term loans, Intralot transaction, and sale leaseback to repay $1.47 billion term loans maturing 2028

5Term loans secured by substantially all material assets subject to customary exceptions

6Citizens Capital Markets served as financial advisor; Fried Frank and Latham & Watkins as legal advisors

Current Report Details

Event Type

Other Event

Exhibits Only

Disclosure

Voluntary

Variant

8-K

Items Reported

8.01

. The information provided pursuant to this Item 8.01, including Exhibit 99.1 in Item 9.01, is “furnished” and shall not be deemed to be “filed” with the SEC or

Other Event

9.01

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Press Release, dated February 11, 2026. 104 Cover Page Interactive Data File (embe

Exhibits Only

Source Document

Transaction Details

Acquisition / Disposition

Target: real estate assets of Twin River Lincoln Casino Resort
Consideration: $700 million before transaction expenses and provisions for taxes
Structure: sale and leaseback

•Completed pursuant to agreement with GLP Capital, L.P.
•Initial cash rent $56 million per annum with customary annual escalators

Material Agreement

Parties: Bally’s Corporation, Ares Management Credit funds, King Street Capital Management, TPG Credit

•Funded term loans of $1.1 billion
•Secured by substantially all material assets of Company and subsidiaries subject to customary exceptions

Debt / Financing

Instrument: Term Loan Credit Facility
Principal: 1.1
Maturity: 2031
Use of Proceeds: general corporate purposes including development of Bally’s Bronx and Bally’s Chicago; repayment of $1.47 billion term loans maturing 2028

Exhibits (2)

8-K

99.1

EX-99.1