New york–( Company Cable )–VICI Features Inc. (NYSE: VICI) (“VICI Features” or perhaps the “Company”) a keen experiential investment trust, today revealed it has finished the latest previously announced transaction to locate all the membership interests off a part out of JACK Cincinnati one to possess new casino-entitled belongings and you may a home and you will relevant property off JACK Cincinnati Gambling enterprise (“JACK Cincinnati”), situated in downtown Cincinnati, Kansas, for about $558 million in the bucks. The firm funded the transaction which have money on give.

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Multiple to your closure of your deal, the company inserted on the a multiple-internet lease agreement which have Hard-rock Globally (“Hard rock”). The latest rent, hence begins as of today, has actually an initial complete annual lease of $ billion and you can a first title regarding 15 years, that have four 5-seasons occupant restoration choice. The brand new tenant’s loans beneath the rent was guaranteed from the Seminole Tough Rock Activities, Inc., and therefore retains a good investment amounts rating of S&P Internationally Studies and you may Fitch Product reviews.

Even as we enjoy our pending transactions which have Century Gambling enterprises, Inc

John Payne, Chairman and you will Chief Functioning Officer out-of VICI Functions said, “The audience is very happy to personal the fresh new JACK Cincinnati deal, diversifying our very own geographical exposure by obtaining one out of merely five complete-size casino properties in the minimal license condition off Ohio, and that remains among the many better and you may fastest expanding regional gambling locations all over the country. Which buy adds twenty-two acres out of high-high quality urban key a home to your profile and you can formally set all of our third tenant dating as a result of a long-term partnership having Hard-rock, an international frontrunner in betting, enjoyment and hospitality event.”

David Kieske, EVP, Captain Monetary Officer out-of VICI Characteristics, as well as stated, “We funded the purchase of JACK Cincinnati through the help of money on the equilibrium sheet, including $ billion of yearly rent to the bottom line. and you will Eldorado Lodge, Inc., and therefore collectively can truly add an extra $277.5 mil out-of lease abreast of closing, because of our winning express giving i’ve safeguarded the security financing expected to personal such purchases toward a power neutral foundation.”

Unwrapped when you look at the , JACK Cincinnati is based into the twenty-two miles from the Broadway Commons part of the downtown area Cincinnati. The house or property possess one hundred,100 square feet off betting place that have up to step one,800 gambling servers and you may a hundred desk game. In addition, the house or property consists of 33,100000 square feet from fulfilling space, six higher-quality restaurants, as well as 2 bars.

VICI Attributes try an experiential investment believe you to definitely possesses one of the primary portfolios away from ing, hospitality and you may activity sites, like the business-known Caesars Castle. VICI Properties’ federal, geographically diverse portfolio includes 24 gambling place comprising more than 40 billion sq ft and features approximately 15,200 hotel rooms and more than 150 food, pubs and you can nightclubs. Its services are hired so you can industry leading gaming and you may hospitality providers, and additionally Caesars Activity Enterprise and Penn National Gaming. VICI Functions and is the owner of four title golf programmes and you will 34 acres regarding undeveloped homes beside the Vegas Remove. VICI Properties’ strategy is to make the nation’s highest quality and you can most effective experiential a home collection. For additional information, kindly visit viciproperties.

So it news release include forward-lookin statements when you look at the meaning of the new government securities regulations. You can choose this type of comments of the all of our utilization of the conditions “assumes on,” “thinks,” “quotes,” “anticipates,” “recommendations,” “aims,” “plans,” “strategies,” and similar expressions that don’t interact with historic matters. The statements aside from statements away from historic fact is forward-appearing comments. Those types of dangers, uncertainties and other activities are dangers that people may not go advantages considered of the acquisition of the new JACK Cincinnati gambling establishment-titled house and a house and you can relevant assets; that not all-potential threats and you may debts was in fact identified united states in our due diligence of your JACK Cincinnati a home property; that our pending transactions with Century Casinos, Inc. and Eldorado Hotel, Inc. (the newest “pending purchases”) es in earlier times expose, or whatsoever; our power to located, or delays in the obtaining, the brand new political and you may regulating approvals and you will consents expected to consummate our very own pending purchases, or any other delays otherwise hurdles to help you completing such deals; all of our ability to get the resource needed to over the pending purchases to your words we have now expect otherwise whatsoever; disruptions into real property and operations of subject properties inside pendency of your closure of one’s pending purchases; and you can dangers that the Team may well not reach the pros considered by the pending transactions (and one expected accretion or even the quantity of one future rent payments). Important factors that will change the Company’s business, result of surgery and financial position is actually detail by detail away from for you personally to time in the business’s filings into the Securities and you may Replace Percentage. The organization does not undertake one duty so you can revise or posting any pass-appearing declaration, whether or not as a result of the information, coming occurrences jackpot city free slots, or else, except just like the may be required by appropriate laws.