Vici Properties has finalized a major acquisition deal valued at $1.16 billion, marking its official purchase of seven Nevada-based Golden Entertainment casino properties. The transaction, structured as a sale-leaseback agreement, represents a pivotal move for both companies—strengthening Vici’s footprint in Nevada’s gaming market while guiding Golden Entertainment toward privatization.
Under the agreement, Vici will assume full ownership of the land and real estate assets of all seven properties, while Golden Entertainment transitions to a privately held company. A new entity—owned by Golden’s Chairman and CEO, Blake L. Sartini—will take over the company’s operational business. The deal, valued at approximately $30 per share, positions Golden to concentrate on its Nevada-based operations and to unlock real estate value through its collaboration with Vici.
In a statement on the deal, Sartini said, “At Golden, we have continued to refine our business in recent years to focus on our core casino and tavern operations in Nevada, and we believe this transaction is the right next step in our evolution to a private company. After many years of watching VICI’s success, we are excited to partner with VICI on this important strategic transaction and to explore potential opportunities to grow our company.”
Golden Entertainment’s President and CFO, Charles Protell, expressed appreciation for Vici’s role in structuring the deal, saying, “We are grateful for VICI’s partnership and creativity in structuring a sale-leaseback transaction that helps us to achieve our shareholders’ objectives and unlock significant value in our real estate. We appreciate the significant efforts and expertise that the VICI management team brought to the table to execute this transaction.”
Lease Terms and Strategic Impact
The agreement grants Golden an initial 30-year lease of the seven casinos, with four additional five-year renewal options. The lease begins at $87 million annually, with rent scheduled to increase by 2% starting in the third year. The portfolio encompasses over 4,000 slot machines, 78 table games, and 362,000 square feet of gaming space, including iconic Nevada venues such as The STRAT, the Aquarius and Edgewater resorts in Laughlin, two Arizona Charlie’s properties in Las Vegas, and the Pahrump Nugget.
Vici’s President and COO, John Payne, highlighted the strategic value of the acquisition, stating, “VICI has sought exposure to the attractive Las Vegas Locals gaming market since our inception, and we are thrilled to acquire seven new assets across the state of Nevada with sticky, durable customer bases. We look forward to initiating a partnership with Golden, having long admired the ability of Blake and the Golden team to operate within the various dynamics of the Nevada gaming market.”
Golden Entertainment’s Financial Picture
Golden Entertainment’s latest earnings report underscores the financial backdrop of this transaction. The company recorded third-quarter 2025 revenue of $154.8 million, down from $161.2 million in the same quarter of 2024. It reported a net loss of $4.7 million, compared to a $5.2 million profit a year earlier. Adjusted EBITDA also declined to $30.5 million, from $34 million the prior year.
While gaming revenue ticked up slightly to $77 million from $75.6 million, other segments—such as room and food and beverage sales—experienced declines. The Nevada Casino Resorts division, which includes The STRAT, reported revenue of $93 million, down from $99.5 million a year ago. Local casino revenue grew modestly to $35.7 million, while the tavern division slipped to $25.7 million.
Golden Entertainment continues to reward shareholders with a $0.25 per-share quarterly dividend, maintaining its payout policy despite the dip in earnings. As of September 30, the company’s total debt stood at $430.1 million, offset by $58.3 million in cash and $205 million of available credit.
Shareholder Reaction and Legal Scrutiny
Following the announcement of the deal, Golden’s stock surged 35.56% to $28.78 in midday trading, reflecting investor optimism over the premium valuation. Sartini said the agreement “maximizes value for our shareholders by providing a significant premium to our current share price.”
However, not all reactions have been celebratory. The New York-based law firm Halper Sadeh LLC has initiated an investigation into the transaction’s fairness to Golden shareholders. The firm is examining whether Golden’s board of directors secured the best possible deal, whether Vici and Sartini are underpaying shareholders, and if sufficient information was disclosed regarding the sale’s details.
Broader Market Context
Vici’s acquisition follows the company’s own strong third-quarter performance, reporting $1 billion in revenue, a 4.4% year-over-year increase. Meanwhile, Golden’s revenue decline reflects a broader slowdown seen among some regional gaming peers, even as companies like Boyd Gaming and Red Rock Resorts posted moderate growth.
The deal ultimately positions both Vici and Golden for strategic advantage—Vici expanding its Nevada portfolio and Golden pivoting to a streamlined, privately managed business model. As the companies move forward, the transaction underscores ongoing consolidation and transformation within the U.S. gaming landscape.
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‘ Some details of this article were extracted from the following source news.worldcasinodirectory.com ’
