June 18, 2019 Comments Off on VICI Snares Missouri Casinos in $385M Portfolio Deal Views: 138 Midwest, Missouri, National News

VICI Snares Missouri Casinos in $385M Portfolio Deal

Gaming REIT VICI Properties said it has agreed to acquire Isle Casino Cape Girardeau in Cape Girardeau, MO; Lady Luck Casino Caruthersville in Caruthersville, MO; and Mountaineer Casino, Racetrack & Resort in New Cumberland, WV from Eldorado Resorts for $385 million in cash.

VICI will acquire the land and real estate assets of the properties for approximately $278 million, and Century Casinos will acquire the operating assets for approximately $107 million. Simultaneous with the closing of this transaction, VICI will enter into a triple-net master lease agreement with Century.

“Cape Girardeau, Caruthersville and Mountaineer are competitive local assets in stable regional markets and are a great fit for Century’s growing portfolio,” said VICI’s John Payne. “The nature of this transaction allows both Century and Eldorado to realize strategic value for their respective shareholders, while also furthering our strategic goals to diversify and grow our portfolio in an accretive manner.”

Pictured: Isle Casino Cape Girardeau

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