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National  + Missouri  + Retail  |  June 18, 2019
Paul Bubny
By: Paul Bubny

VICI Snares Missouri Casinos in $385M Portfolio Deal

Gaming REIT VICI Properties said it has agreed to acquire Isle Casino Cape Girardeau in Cape Girardeau, MO; Lady Luck Casino Caruthersville in Caruthersville, MO; and Mountaineer Casino, Racetrack & Resort in New Cumberland, WV from Eldorado Resorts for $385 million in cash.

VICI will acquire the land and real estate assets of the properties for approximately $278 million, and Century Casinos will acquire the operating assets for approximately $107 million. Simultaneous with the closing of this transaction, VICI will enter into a triple-net master lease agreement with Century.

“Cape Girardeau, Caruthersville and Mountaineer are competitive local assets in stable regional markets and are a great fit for Century’s growing portfolio,” said VICI’s John Payne. “The nature of this transaction allows both Century and Eldorado to realize strategic value for their respective shareholders, while also furthering our strategic goals to diversify and grow our portfolio in an accretive manner.”

Pictured: Isle Casino Cape Girardeau

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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