(AsiaGameHub) – VICI Properties is nearing the conclusion of its $1.16 billion purchase of seven Nevada casino real estate assets from Golden Entertainment, having secured all necessary shareholder and regulatory clearances.
Key Details
- The transaction is slated for completion on or about April 30, 2026.
- VICI is acquiring the land, buildings, and associated improvements for seven Nevada-based casinos.
- The STRAT Hotel, Casino, and Tower, located on the North Las Vegas Strip, is part of the acquisition.
Nevada Gaming Real Estate Transaction
VICI Properties will expand its Nevada gaming portfolio through an agreement centered on real estate ownership and long-term leasing, while a separate entity manages operations.
Under the terms, VICI will acquire full ownership of the land and physical assets of seven Golden Entertainment properties. Following the close, a new company led by Blake L. Sartini will take over the operating business and manage the sites.
The lease agreement starts with an annual rent of $87 million for an initial 30-year period, including four five-year extension options. Rent escalations of 2% annually will begin in the third year.
Golden Entertainment investors will be issued approximately 24.3 million VICI shares. This represents an exchange of 0.902 VICI shares per Golden share, supplemented by a cash payment from a Golden OpCo affiliate. The deal received shareholder approval on March 31.
Additionally, VICI will take on and promptly settle $426 million of Golden Entertainment’s debt, utilizing available cash and proceeds from forward sale agreements.
The STRAT represents the most prominent Las Vegas property in the deal. Golden Entertainment acquired it in 2017 and invested $140 million in upgrades. VICI’s existing Strip portfolio includes Caesars Palace, MGM Grand, and The Venetian & Palazzo.
Golden Entertainment will retain ownership of the Gold Town Casino in Pahrump along with its 72 Nevada gaming taverns. Concurrently, Sartini is pursuing a plan to privatize the company at a price of $30 per share.
Sartini remarked:
“I believe this deal provides maximum value for our investors by offering a notable premium over our current stock price. We are excited to align our premier Nevada casino real estate with a leading experiential real estate platform like VICI to create value and seek out new prospects.”
Sartini further noted that since the company’s inception in 2001, his priority has been providing service across the Strip, regional resorts, and local venues. He intends to maintain this focus while guiding approximately 5,000 staff members into the company’s next chapter as a private entity.
FAQ
When is the VICI and Golden Entertainment agreement set to conclude?
The transaction is expected to close on or around April 30, 2026, pending the fulfillment of remaining standard conditions.
What is the total value VICI is paying for the Golden Entertainment assets?
The deal is valued at $1.16 billion and encompasses seven casino real estate properties in Nevada.
Which prominent asset is included in the sale?
The STRAT Hotel, Casino, and Tower on the North Las Vegas Strip is part of the transaction.
What properties will Golden Entertainment continue to own?
Golden Entertainment will keep the Gold Town Casino in Pahrump as well as its network of 72 gaming taverns throughout Nevada.
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