VICI Properties Inc. (VICI), Thursday said that it has agreed to acquire the land and real estate of seven Nevada casinos from Golden Entertainment Inc. (GDEN) for $1.16 billion, expanding the REIT's footprint in the Las Vegas Locals market.
The STRAT Hotel, Casino & Tower, Arizona Charlie's Decatur and Arizona Charlie's Boulder, Aquarius Casino Resort, Edgewater Casino Resort, Pahrump Nugget Hotel & Casino, and Lakeside RV Park & Casino are among the properties that make up the Golden Portfolio. Together, they have over 6,000 rooms, 4,306 slot machines, 78 table games, and about 362,000 square feet of gaming space.
At closing, Golden OpCo, a new private company under the leadership of Golden CEO Blake Sartini, will sign a 30-year triple-net master lease with VICI.
At closing, VICI will retire Golden's $426 million debt, and Golden shareholders will receive newly issued VICI stock at an exchange ratio of 0.902.
Depending on shareholder and regulatory approvals, the deal should be finalized by the middle of 2026.
VICI is currently trading at $30.25, up $0.08 or 0.25 percent on the New York Stock Exchange.
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