(AsiaGameHub) – The deal is anticipated to finalize on or about April 30.
US.- VICI Properties has revealed that all necessary gaming regulatory and shareholder approvals have been secured for its previously announced $1.16 billion acquisition of the land, real estate, and improvements of seven casino properties from olden Entertainment. The transaction is set to close around April 30pending the satisfaction of remaining customary closing conditions.
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VICI notedoted that upon the deal’s closure, it will enter into a triple-net master lease with a newly formed entity owned by Blake L. Sartartini—chairman and CEO of Golden Entertainment—which entity will have acquired Golden’s operating business.
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Golden Entertainment shareholders will receive approximately 24.3 million newly issued VICI shares in exchange for their outstanding Golden stockock. VICI will assume and immediately retire Golden Entertainment’s $426 million in outstanding debt using a combination of cash on hand and net proceeds from the settlement of existing forward sale agreements.
The company further stated that the Golden Master Lease will feature an initial annual rent of $87.0 million, an initial term of 30 years, and four 5-year tenant renewal options.
In March, VICI Properties announced a CAD$200.6 million ($144.4 million) acquisition of the real estate assets of Deerfoot Inn & Casino, Great Northern Casino, and two limited-service hotels adjacent to the Great Northern Casino in Alberta, Canada. This deal is tied to Pure Casino Entertainment Partnership’s pending take-private acquisition of Gamehost.
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