VICI Properties Inc. Provides $400 Million Mortgage Loan to Caesars Entertainment
VICI Properties Inc. (NYSE: VICI) (VICI Properties or the Company), an experiential real estate investment trust, today announced it has provided a $400 million mortgage loan to a subsidiary of Caesars Entertainment, Inc. (NASDAQ: CZR) (Caesars) that is secured by the Caesars Forum Convention Center in Las Vegas, in accordance with the previously announced letter of intent (the LOI) entered into on June 15, 2020.
- VICI Properties Inc. (NYSE: VICI) (VICI Properties or the Company), an experiential real estate investment trust, today announced it has provided a $400 million mortgage loan to a subsidiary of Caesars Entertainment, Inc. (NASDAQ: CZR) (Caesars) that is secured by the Caesars Forum Convention Center in Las Vegas, in accordance with the previously announced letter of intent (the LOI) entered into on June 15, 2020.
- The Caesars Forum Convention Center is subject to an amended Put/Call Agreement between Caesars and VICI, with VICIs call option being accelerated to 2025 in connection with the entry into the mortgage loan.
- VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace.
- Its properties are leased to industry leading gaming and hospitality operators, including Caesars, Century Casinos Inc., Hard Rock International, JACK Entertainment and Penn National Gaming.