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Caesars Betting house REIT Gets Margaritaville Resort Casino within Bossier Town

Caesars Betting house REIT Gets Margaritaville Resort Casino within Bossier Town

Caesars REIT does acquisition of Louisiana’s Margaritaville Holiday resort Casino, leases property so that you can Penn Indigenous Gaming

VICI Properties reported Wednesday it has completed the purchase of Margaritaville Vacation resort Casino around Bossier Urban center, Louisiana pertaining to $261 , 000, 000 in money. The company has leased the exact property to on line casino operator Penn National Game.

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

VICI said last night that it provides paid around $261 huge number of for the land and property assets for Margaritaville Resort Casino. The property or home opened panels in 2013 and is up to date facility from the Bossier/Shreveport game market. Them occupies check out acres regarding fee land and approximately 30 grounds of rented land. Typically the fee acreage features a 30, 500-square-foot online casino floor utilizing 1, 215 slot machines plus 50 game playing tables , a 395-room hotel, 6 restaurants along with food and consume facilities, as well as a 1, 000-seat theater, concerning other services. The leased land includes parking through 1, 525 spaces.

When VICI used the terrain and real estate property assets of your hotel and casino destination, Penn Countrywide bought the exact operational possessions of the residence for $115 million within cash, bringing the aggregate final cost to $376 million.myfreepokies.com (more…)Caesars Betting house REIT Gets Margaritaville Resort Casino within Bossier Town