Hogan Lovells Advises VICI Properties on US$1.16 Billion Sale‑Leaseback with Golden Entertainment

Hogan Lovells represented VICI Properties in connection with its agreement to acquire seven casino properties from Golden Entertainment and to enter into a triple‑net master lease with a newly formed operating company that will acquire Golden Entertainment's operating business. Under the terms of the transaction, VICI Properties will acquire 100% of the land, real property and improvements of seven casino properties from Golden Entertainment for US$1.16 billion. Concurrently, VICI Properties will enter into a triple‑net master lease (the Golden Master Lease) with a newly formed entity to be owned and controlled by Blake L. Sartini, which entity will acquire Golden Entertainment's operating business (Golden OpCo) at closing. The Golden portfolio comprises The STRAT Hotel, Casino & Tower on the North Las Vegas Strip; Arizona Charlie’s Decatur and Arizona Charlie’s Boulder in the Las Vegas locals market; Aquarius Casino Resort and Edgewater Casino Resort in Laughlin, Nevada; and Pahrump Nugget Hotel & Casino and Lakeside RV Park & Casino in Pahrump, Nevada. The portfolio includes approximately 362,000 square feet of casino space, more than 6,000 hotel rooms, 4,306 slot machines and 78 table games. Hogan Lovells represented VICI Properties with a team composed by: partners Cristina Arumi (Tax, Pensions & Benefits, Washington, D.C.), Stacey McEvoy (M&A, Washington, D.C.) and Andy Zahn (Capital Markets, Washington, D.C.); senior associates Tina Guo (M&A, New York) and Dylan Hays (Tax, Pensions & Benefits, Washington, D.C.); associates Erin Clancy and Tommy Wiltshire (both Capital Markets, Washington, D.C.), Eryn Lin and Vanessa Gomez (both General Corporate & Finance, Washington, D.C.); and law clerks Katelyn Parchman (M&A, Baltimore) and Kelsey Levin-Epstein (General Corporate & Finance, New York).

Hogan Lovells Advises VICI Properties on US$1.16 Billion Sale‑Leaseback with Golden Entertainment

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