Bally's Corporation has reached an agreement to purchase Tropicana Las Vegas casino from Gaming and Leisure Properties (GLPI). The omnichannel provider of land-based gaming and interactive entertainment estimates the purchase price to be about $308 million. Bally’s shares fell by as much as 10.7% following the announcement. Bally’s (BALY) plans to lease the land underlying the casino for 50 years and pay $10.5 million as annual rent.