Caesars Gambling house REIT Obtains Margaritaville Location Casino around Bossier Area

Caesars REIT finishes acquisition of Louisiana’s Margaritaville Vacation resort Casino, leases property so that you can Penn State Gaming

VICI Properties released Wednesday so it has accomplished the acquisition of Margaritaville Location Casino in Bossier Location, Louisiana just for $261 zillion in cash. The company also offers leased the house to casino operator Penn National Video games.

VICI certainly is the real estate investment have confidence in that made off Las Vegas gaming giant Caesars Celebration Corp. within the latter industry’s lengthy Section 11 bankruptcy proceeding case.

VICI said yesteryear that it has paid roughly $261 million dollars for the property and property assets about Margaritaville Turn Casino. The house or property opened gates in 2013 and is the most up-to-date facility during the Bossier/Shreveport video gaming market. The idea occupies 4 acres associated with fee terrain and approximately 30 massive areas of leased land. The actual fee land features a 18, 500-square-foot casino floor together with 1, 215 slot machines along with 50 gambling tables , a 395-room hotel, six restaurants and also food and drinks facilities, plus a 1, 000-seat theater, amongst other amenities. The leased land consists of parking having 1, 500 spaces.

Even though VICI used the area and real estate property assets in the hotel and even casino resort, Penn State bought the actual operational resources of the home for $115 million for cash, taking the aggregate purchase price to $376 million.play aristocrat pokies online Read more