v3.26.1
Commitments and Contingencies
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
 
Litigation

The Company is subject to various legal and administrative proceedings relating to personal injuries, employment matters, commercial transactions, and other matters arising in the normal course of business. The Company does not believe that the final outcome of these matters will have a material adverse effect on the Company’s consolidated financial position or results of operations. The majority of these matters are subject to indemnification and defense obligations of our tenants. The Company maintains what it believes is adequate insurance coverage to further mitigate the risks of such proceedings. However, such proceedings can be costly, time-consuming, and unpredictable and, therefore, no assurance can be given that the final outcome of such proceedings may not materially impact the Company’s financial condition, results of operations or liquidity. Further, no assurance can be given that the amount or scope of existing insurance coverage will be sufficient to cover losses arising from such matters. 

Funding commitments

As of June 30, 2026, the Company has entered into various commitments or call rights to finance/acquire future investments in gaming and related facilities for our tenants. These are detailed in the table below. Our tenants retain the option to decline our financing for certain projects and may seek alternative financing solutions. The inclusion of a commitment in this disclosure does not guarantee that the financing will be utilized by the tenant in circumstances where a tenant has the option. See Note 1 in the Notes to the Condensed Consolidated Financial Statements for further details.

DescriptionMaximum Commitment amount
Amount funded at June 30, 2026
Relocation of Hollywood Casino Aurora$225 million$225.0 million
Funding associated with a landside move at Ameristar Casino Council Bluffs (1)
$150 millionNone
Potential transaction at the former Tropicana Las Vegas site with Bally's$175 million$48.5 million
Real estate construction costs for Bally's Chicago $940 million$475.7 million
Ione Loan to fund a new casino development near Sacramento, California$110 million$98.9 million
Funding associated with the future site and construction for Live! Virginia Casino & Hotel$467 million$27.0 million
Delayed draw term loan for Dry Creek Rancheria Resort development$180 millionNone