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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<\/a>. The transaction, structured as a sale-leaseback agreement, represents a pivotal move for both companies\u2014strengthening Vici\u2019s footprint in Nevada\u2019s gaming market while guiding Golden Entertainment toward privatization.<\/p>\n 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\u2014owned by Golden\u2019s Chairman and CEO, Blake L. Sartini<\/strong>\u2014will take over the company\u2019s 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.<\/p>\n In a statement on the deal<\/a>, Sartini said, \u201cAt 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\u2019s success, we are excited to partner with VICI on this important strategic transaction and to explore potential opportunities to grow our company.\u201d<\/em><\/p>\n Golden Entertainment\u2019s President and CFO, Charles Protell<\/strong>, expressed appreciation for Vici\u2019s role in structuring the deal, saying, \u201cWe are grateful for VICI\u2019s partnership and creativity in structuring a sale-leaseback transaction that helps us to achieve our shareholders\u2019 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.\u201d<\/em><\/p>\n Lease Terms and Strategic Impact<\/strong><\/p>\n 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<\/a>, the Aquarius and Edgewater resorts in Laughlin, two Arizona Charlie\u2019s properties in Las Vegas, and the Pahrump Nugget<\/a>.<\/p>\n Vici\u2019s President and COO, John Payne<\/strong>, highlighted the strategic value of the acquisition, stating, \u201cVICI 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.\u201d<\/em><\/p>\n Golden Entertainment\u2019s Financial Picture<\/strong><\/p>\n