Bally's Chicago Operating Company, LLC, an indirect subsidiary of Bally's Corporation, has entered into significant agreements as part of its plan to develop a new casino and resort in Chicago. The company has secured an amended and restated ground lease with GLP Capital, L.P., a subsidiary of Gaming and Leisure Properties, Inc., for the property designated for the project. Additionally, under a new development agreement, GLP has committed to advancing up to $940 million to cover construction costs, in return for an increase in rent payments from Bally's Chicago OpCo. The lease agreement spans 15 years, with the option for up to four five-year renewals, setting the annual rent at $20 million, subject to adjustments, plus an additional amount tied to the advances.