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Liquidity has been an issue for Bally¡¯s: in its Q3 2022 earnings statement, the company reported $3.4B in debt and only $165M in cash on hand. The transaction with Oak Street is the third sale-leaseback deal for Bally¡¯s this year.
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So far, such gambling is legal in only six states: New Jersey, Pennsylvania, Michigan, West Virginia, Delaware and Connecticut.