M&A Deal Summary

Gaming & Leisure Properties Acquires Dover Downs Hotel & Casino

On October 27, 2020, Gaming & Leisure Properties acquired leisure company Dover Downs Hotel & Casino from Bally s for 340M USD

Acquisition Highlights
  • This is Gaming & Leisure Properties’ 3rd transaction in the Leisure sector.
  • This is Gaming & Leisure Properties’ 3rd largest (disclosed) transaction.
  • This is Gaming & Leisure Properties’ 5th transaction in the United States.
  • This is Gaming & Leisure Properties’ 1st transaction in Delaware.

M&A Deal Summary

Date 2020-10-27
Target Dover Downs Hotel & Casino
Sector Leisure
Buyer(s) Gaming & Leisure Properties
Sellers(s) Bally s
Deal Type Divestiture
Deal Value 340M USD

Target

Dover Downs Hotel & Casino

Dover, Delaware, United States
Dover Downs Hotel & Casino is a luxurious 4 Diamond hotel and casino offering a variety of entertainment, dining, horse racing, table games, poker, and slots. Dover Downs Hotel & Casino is based in Dover, Delaware.

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Buyer(S) 1

Buyer

Gaming & Leisure Properties

Wyomissing, Pennsylvania, United States

Category Company
Sector Real Estate
Employees18
Revenue 1.4B USD (2023)
DESCRIPTION

Gaming & Leisure Properties is a real estate company. GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in "triple net" lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. Gaming & Leisure Properties is based in Wyomissing, Pennsylvania.


DEAL STATS #
Overall 5 of 7
Sector (Leisure) 3 of 5
Type (Divestiture) 5 of 7
State (Delaware) 1 of 1
Country (United States) 5 of 7
Year (2020) 3 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-27 Tropicana Evansville

Evansville, Indiana, United States

Tropicana Evansville is an operator of an entertainment complex located on the scenic banks of the Ohio River in southwestern Indiana. The single-level 24-hour casino encompasses 45,000 square feet of gaming space featuring over 1,100 slot games, over 30 table games, a dedicated Poker Room, and a High Limit Room. Tropicana Evansville is based in Evansville, Indiana.

Buy $480M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Hollywood Casino Perryville

Perryville, Maryland, United States

Hollywood Casino Perryville offers Vegas-style gaming vibes in a friendly community atmosphere. Hollywood Casino Perryville is based in Perryville, Maryland.

Sell $31M

Seller(S) 1

SELLER

Bally s

Providence, Rhode Island, United States

Category Company
Founded 2004
Sector Gaming
Employees9,900
Revenue 2.2B USD (2023)
DESCRIPTION

Bally's currently owns and operates 10 casinos across six states, a horse racetrack, and 13 authorized OTB licenses in Colorado. With more than 5,400 employees, the Company's operations include 11,859 slot machines, 405 game tables, and 2,538 hotel rooms. Properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Casino Vicksburg (Vicksburg, MS), Dover Downs Hotel & Casino (Dover, DE), Bally's Atlantic City (Atlantic City, NJ), Casino KC (Kansas City, MO), Golden Gates Casino (Black Hawk, CO), Golden Gulch Casino (Black Hawk, CO), Mardi Gras Casino (Black Hawk, CO), and Arapahoe Park racetrack (Aurora, CO). Bally's was founded in 2004 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 1 of 3
Sector (Leisure) 1 of 3
Type (Divestiture) 1 of 3
State (Delaware) 1 of 1
Country (United States) 1 of 3
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-27 Tropicana Evansville

Evansville, Indiana, United States

Tropicana Evansville is an operator of an entertainment complex located on the scenic banks of the Ohio River in southwestern Indiana. The single-level 24-hour casino encompasses 45,000 square feet of gaming space featuring over 1,100 slot games, over 30 table games, a dedicated Poker Room, and a High Limit Room. Tropicana Evansville is based in Evansville, Indiana.

Buy $480M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-18 Bet.Works

Las Vegas, Nevada, United States

Bet.Works is a U.S.-based technology and services company delivering the most advanced iGaming and sportsbook products. Its flexible suite of proprietary solutions, coupled with a sophisticated managed service offering, uniquely position Bet.Works to provide US-ready solutions to enterprise, tribal and regional clients.

Buy -