vici properties
MGM and VICI to Sell Operations of Gold Strike Tunica for $450 Million to Cherokee Nation Entertainment
MGM Resorts International | June 10, 2022
LAS VEGAS, June 10, 2022 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced that it has reached an agreement to sell the operations of Gold Strike Tunica ("Gold Strike") to Cherokee Nation Entertainment Gaming Holdings, LLC ("CNE"), a subsidiary of Cherokee Nation Businesses, for $450 million in cash, subject to customary adjustments. "I want to thank all of our Gold Strike employees who have consistently delivered world-class gaming and entertainment experiences to our guests," said Bill Hornbuckle, CEO & President, MGM Resorts International. "Gold Strike is a wonderful property with a bright...
VICI Properties Inc. Completes $17.2 Billion Strategic Acquisition of MGM Growth Properties
VICI Properties Inc. | May 2, 2022
– Adds 15 Marquee Assets Expanding Real Estate Portfolio to 43 Class-A Properties – – Increases Annual Rent by Over $1.0 Billion – – Diversifies Tenant Base to Eight Best-In-Class Operators – – Closes on $5.0 Billion of Investment Grade Senior Unsecured Notes – – Settles the Exchange Offer and Consent Solicitation for Notes Originally Issued by MGP NEW YORK--May 2, 2022--VICI Properties Inc. (NYSE: VICI) (“VICI,” “VICI Properties” or the “Company”), an experiential real estate investment trust, today announced it has closed on the previously announced acquisition of MGM Growth Properties LLC (NYSE: MGP) ("MG...
VICI Properties Inc. Enters Into Agreements Relating to the Mirage Hotel & Casino in Las Vegas
VICI Properties | December 14, 2021
NEW YORK, NY - December 14, 2021 - VICI Properties Inc. (“VICI Properties” or “VICI” or the “Company”) announced today that, in connection with MGM Resorts International’s (“MGM Resorts”) agreement to sell the operations of The Mirage Hotel & Casino (the “Mirage”), located in Las Vegas, NV, to Hard Rock International (“Hard Rock”), VICI has agreed to enter into a new separate lease with Hard Rock related to the operations of the Mirage (the “Mirage Lease”) and also enter into an amendment to the Master Lease to be made by and between VICI Properties and MGM Resorts (the “MGM Master Lease”). The transac...
VICI Properties and Apollo Funds Ink $6.25B Deal to Acquire Las Vegas Sands’ Venetian Resort and Sands Expo Center
VICI Properties | March 3, 2021
NEW YORK -- March 3, 2021 -- VICI Properties Inc. (“VICI Properties” or the “Company”) announced today it has entered into definitive agreements to acquire from Las Vegas Sands Corp. (“LVS”) all of the land and real estate assets associated with the Venetian Resort Las Vegas and the Sands Expo and Convention Center, located in Las Vegas, Nevada (collectively, the “Venetian Resort”), for $4.0 billion in cash, representing a 6.25% cap rate. An affiliate of certain funds managed by affiliates of Apollo Global Management, Inc. (the “Apollo Funds”), has agreed to acquire the operating company of the Venetian Resort for $2.25 bi...
VICI Properties Inc. Announces Fourth Quarter and Full Year 2020 Results
VICI Properties | February 19, 2021
NEW YORK--February 19, 2021--VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter and year ended December 31, 2020. All per share amounts included herein are on a per diluted share basis unless otherwise stated. Fourth Quarter 2020 Financial and Operating Highlights Total revenues increased 57.0% year-over-year to $373.0 million Net income attributable to common stockholders was $288.0 million, or $0.53 per share AFFO increased 42.5% year-over-year to $251.7 million AFFO per share increased 24.3% to $0.46 Complet...
Caesars Entertainment and VICI Properties Complete Sale of Bally’s Atlantic City
Caesars Entertainment | November 19, 2020
NEW YORK - Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have completed the previously disclosed transaction to sell Bally’s Atlantic City to Bally’s Corporation (NYSE: BALY), previously known as Twin River Worldwide Holdings Inc., for $25.0 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual base rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. ...
Caesars Entertainment and VICI Properties Complete Sale of Harrah’s Reno to CAI Investments for $41.5M
Caesars Entertainment | October 1, 2020
NEW YORK - Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have completed the previously disclosed transaction to sell Harrah’s Reno Hotel and Casino (“Harrah’s Reno”) to an affiliate of CAI Investments for $41.5 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. Forward-Looking Statements This press release includes forward-looking statements within the me...
Caesars Entertainment and VICI Properties Enter Into $400 Million Mortgage
Caesars Entertainment, Inc. | September 21, 2020
RENO, Nev. and LAS VEGAS, Sept. 21, 2020 -- Caesars Entertainment, Inc., (NASDAQ: CZR) ("Caesars," or "Caesars Entertainment") announced today its subsidiary's entry into a $400 million mortgage with a subsidiary of VICI Properties Inc. (NYSE: VICI) ("VICI Properties" or "VICI") that is secured by the CAESARS FORUM Conference Center in Las Vegas, in accordance with the previously announced letter of intent (the "LOI") entered into on June 15, 2020. The five-year mortgage will initially bear interest at a rate of 7.7% and will be pre-payable beginning in year three, subject to certain conditions (and may be prepaid earlier in the cas...
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