Washington, D.C., New York – Global law firm Hogan Lovells is advising VICI Properties Inc. (NYSE: VICI) (“VICI Properties”) as it enters into an agreement to acquire 100% of the land, real property, and improvements of seven casino properties from Golden Entertainment, Inc. (NASDAQ: GDEN) for US$1.16 billion.
In addition, VICI Properties will enter into a triple-net master lease (the “Golden Master Lease”) with a newly formed entity that will be owned and controlled by Blake L. Sartini, current chairman and chief executive officer of Golden, which entity will acquire the operating business of Golden in connection with the closing of the transaction (“Golden OpCo”).
The Golden Portfolio includes: 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. This portfolio features approximately 362,000 square feet of casino space, over 6,000 hotel rooms, 4,306 slot machines, and 78 table games.
More information on the transaction can be found here.
The Hogan Lovells deal team was led 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).
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