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Caesars On line casino REIT Gets Margaritaville Destination Casino with Bossier City

Caesars REIT wraps up acquisition of Louisiana's Margaritaville Hotel Casino, rents property for you to Penn Nationalized Gaming

VICI Properties launched Wednesday that it has finished the acquisition of Margaritaville Vacation resort hotel Casino with Bossier Area, Louisiana meant for $261 huge number of in hard cash. The company the cause leased the property to on line casino operator Penn National Gambling.

VICI will be the real estate investment confidence that unique off Vegas gaming goliath Caesars Celebration Corp. within the latter corporation's lengthy Part 11 individual bankruptcy case.

VICI said yesteryear that it has paid somewhere around $261 thousand for the get and real estate investment assets with Margaritaville Holiday resort Casino. The house or property opened gates in 2013 and is the modern facility during the Bossier/Shreveport games market. This occupies check out acres about fee stretch of land and approximately 30 miles of leased land. The fee acreage features a 21, 500-square-foot casino floor through 1, 215 slot machines as well as 50 games tables , a 395-room hotel, a few restaurants along with food and beverage facilities, as well as a 1, 000-seat theater, among other conveniences. The rented land consists of parking utilizing 1, 525 spaces.

Although VICI bought the territory and realty assets with the hotel together with casino destination, Penn Nationalized bought the exact operational possessions of the real estate for $115 million within cash, taking the aggregate out the door cost to $376 million.