VICI Properties Completes Acquisition of Octavius Tower at Caesars Palace Las Vegas for $507.5 Million
VICI Properties | July 12, 2018
NEW YORK--VICI Properties Inc. (NYSE:VICI) (together with its affiliates, "VICI Properties" or the "Company"), an experiential real estate investment trust ("REIT"), today announced it has completed the acquisition for the previously announced transaction with Caesars Entertainment Corporation (NASDAQ:CZR) ("Caesars Entertainment" or "Caesars") to acquire, and lease back, all of the land and real estate assets associated with the Octavius Tower at Caesars Palace for $507.5 million. The Company funded the purchase of Octavius Tower using available cash. Caesars has operated, and will continue to operate, Octavius Tower pursuant to the te...
Caesars Entertainment | November 30, 2017
LAS VEGAS, Nov. 30, 2017 -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment" or "Caesars") today announced definitive agreements to sell and leaseback the real estate assets associated with Harrah's Las Vegas to VICI Properties ("VICI") and to acquire adjacent land from VICI to develop a planned new 300,000 square foot convention center. Under the terms of the Harrah's sale agreement, Caesars will receive $1.14 billion in cash in return for Harrah's Las Vegas' real estate assets. Under the terms of the convention center agreement, Caesars will acquire 18.4 acres of ad...
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.