VICI Properties Inc. to Acquire Rocky Gap Casino Resort and Lease to Century Casinos, Inc.
VICI Properties Inc. (NYSE: VICI) (VICI Properties or the Company), an experiential real estate investment trust, today announced it has, together with Century Casinos, Inc. (NASDAQ: CNTY) (Century), entered into definitive agreements to acquire Rocky Gap Casino Resort (Rocky Gap), located in Flintstone, Maryland from Golden Entertainment, Inc. (NASDAQ: GDEN) (Golden Entertainment) for an aggregate purchase price of $260.0 million in cash.
- VICI Properties Inc. (NYSE: VICI) (VICI Properties or the Company), an experiential real estate investment trust, today announced it has, together with Century Casinos, Inc. (NASDAQ: CNTY) (Century), entered into definitive agreements to acquire Rocky Gap Casino Resort (Rocky Gap), located in Flintstone, Maryland from Golden Entertainment, Inc. (NASDAQ: GDEN) (Golden Entertainment) for an aggregate purchase price of $260.0 million in cash.
- Simultaneous with the closing of the transaction, Rocky Gap will be added to the existing triple-net master lease agreement between VICI Properties and Century (the Century Master Lease) and annual rent will increase by $15.5 million.
- Additionally, the term of the Century Master Lease will be extended such that, upon closing of the transaction, the lease will have a full 15-year initial base lease term, with four 5-year tenant renewal options.
- VICI Properties strategy is to create the nations highest quality and most productive experiential real estate portfolio.