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VICI Properties closes purchase of 3 Eldorado Resorts properties for $278M

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VICI Properties closes purchase of 3 Eldorado Resorts properties for $278M

VICI Properties Inc. wrapped up its acquisition of the land and real estate assets of three properties owned by casino operator Eldorado Resorts Inc. for $278.0 million in an all-cash deal.

The casino real estate investment trust also entered into a triple-net master lease agreement with another operator, Century Casinos Inc. The master lease has an initial total annual rent of $25.0 million and an initial 15-year term, with four five-year renewal options. The tenant's obligations under the lease are guaranteed by Century.

The transaction, which was funded with cash on hand, involves the Isle Casino Cape Girardeau and Lady Luck Caruthersville in Missouri; and the Mountaineer Casino, Racetrack and Resort in New Cumberland, W.Va.