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Twin River Worldwide Holdings to acquire Tropicana Evansville casino in series of transactions valued at $624 million in the aggregate

October 2020

Clients Twin River Worldwide Holdings, Inc.

Jones Day is advising Twin River Worldwide Holdings, Inc. in the $624 million acquisition of the Tropicana Evansville casino operations from Caesars Entertainment, Inc. As part of the acquisition, Gaming and Leisure Properties, Inc. ("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 a year in rent, subject to escalation. GLPI will also acquire the real estate at Twin River’s Dover, Delaware, facility for $144 million and lease it back to Twin River for $12 million a year in rent, subject to escalation.

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