Gaming and Leisure draws down $530 million for near-term liquidity

Chicago, March 23 – Gaming and Leisure Properties, Inc. announced that it has recently drawn $530 million from its revolving credit facility to provide additional near-term liquidity, according to a business update.

The purpose of the drawdown was to maintain “a strong balance sheet, liquidity and financial flexibility through an indefinite period of property closures,” according to the notice.

The company has closed its Hollywood Casino Baton Rouge and Hollywood Casino Perryville following government directives.

Gaming and Leisure has withdrawn its 2020 guidance given the evolving situation surrounding the nationwide spread of Covid-19.

Gaming and Leisure Properties is a Wyomissing, Pa.-based owner, acquirer, developer, manager and leaser of gaming and related facilities.

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