Source link : https://las-vegas.news/las-vegas-strips-greatest-landlord-gobbles-up-strat-arizona-charlies-4-different-casinos/
LAS VEGAS (KLAS) — VICI Properties Inc., the owner to company on line casino giants up and down the Las Vegas Strip, introduced Thursday it has agreed to a $1.16 billion buy-and-lease-back take care of Golden Leisure Inc., proprietor of The STRAT, Resort, On line casino & Tower, two Arizona Charlie’s casinos, and properties in Laughlin and Pahrump.
The deal places Golden Leisure on the identical path as Caesars Leisure and MGM Resorts Worldwide with one exception: Golden Leisure’s chief, Blake Sartini, intends to take the corporate non-public.
VICI famous that the deal marks its step into the Las Vegas locals market — the second-largest gaming market within the U.S. in 2024 by gross gaming income — for the primary time.
In buy-leaseback offers, VICI owns the property and collects hire from the hotel-casino operators.
The brand new firm led by Sartini will grow to be VICI’s fifth-largest tenant, with an annual $87 million lease cost. The lease settlement runs for 30 years, with 4 five-year renewal choices. Funds will improve by 2% annually, starting within the third 12 months.
VICI will assume and repay as much as $426 million of Golden Leisure’s excellent debt.
Picture Courtesy The STRAT.
Apart from the long-lasting Stratosphere Tower and its resort and on line casino on Las Vegas Boulevard North, Golden’s properties embrace Arizona Charlie’s Decatur and Arizona Charlie’s Boulder within the Las Vegas locals market, the Aquarius On line casino Resort…
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Author : LasVegasNews
Publish date : 2025-11-07 21:14:00
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