Las Vegas Locals gaming market has been a strategic priority for VICI since its founding
VICI Properties has completed the $1.16bn acquisition of 100 per cent of the land, real property and improvements of seven casino properties from Golden Entertainment.
VICI has entered into a triple-net master lease with a newly formed entity that is owned and controlled by Blake L. Sartini, former chairman and chief executive officer of Golden Entertainment, which has acquired the operating business of Golden Entertainment.
John Payne, President & COO of VICI Properties: “The Las Vegas Locals gaming market has been a strategic priority for VICI since our founding. Adding seven properties across Nevada, each with deeply rooted, loyal customer bases, represents a meaningful expansion of our portfolio. We have tremendous respect for what Blake and the Golden Entertainment team have built, and we are excited to officially begin this new partnership.”
Blake L. Sartini, Chairman & CEO of Golden Entertainment: “This transaction reflects the strategic direction Golden Entertainment has been building toward – a sharper focus on our core Nevada casino and tavern operations and becoming a private company. We’ve long respected VICI’s approach, and this partnership has positioned us well to pursue new avenues for growth together.”
Charles Protell, President & CFO of Golden Entertainment: “VICI brought both creativity and deep expertise to structuring a sale-leaseback that delivers meaningful value to our shareholders. This partnership allows us to unlock the potential of our real estate while advancing our strategic goals. We appreciate the dedication from the VICI team throughout the entire transaction process.”
Pursuant to the master transaction agreement, Golden Entertainment shareholders have received approximately 24.3 million shares of newly issued VICI stock in exchange for the outstanding shares of Golden Entertainment stock, which represents an agreed-upon exchange ratio of 0.902 per share of Golden Entertainment’s common stock based on VICI’s 10-day volume weighted average price as of November 5, 2025, as well as cash consideration that is payable by an affiliate of the Golden OpCo.
In connection with the closing of the transaction, VICI has assumed and immediately retired Golden Entertainment’s outstanding $426m of debt using a combination of cash on hand and net proceeds from the settlement of outstanding forward sale agreements.
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Las Vegas Locals gaming market has been a strategic priority for VICI since its founding VICI Properties has completed the $1.16bn acquisition of 100 per cent of the land, real property and improvements of seven casino properties from Golden Entertainment. VICI has entered into a triple-net master lease with a newly formed entity that is…
The post VICI completes acquisition of real estate of seven casinos from Golden Entertainment appeared first on G3 Newswire.