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Washington DC  + Maryland  + Hospitality  |  July 26, 2023
Emily Fu
By: Emily Fu

VICI Properties Acquires Rocky Gap Casino Resort 

VICI Properties, a gaming REIT, has completed the acquisition of an interest in the land and buildings associated with Rocky Gap Casino Resort in Maryland from Golden Entertainment for approximately $203.9 million in cash.  

The funding for the transaction came from a combination of cash on hand and proceeds from the partial settlement of forward equity sale agreements. 

Following the acquisition, Rocky Gap was added to the existing triple-net master lease agreement between VICI Properties and Century Casinos. The annualized rent increased by $15.5 million as part of the agreement. Additionally, the term of the Century Master Lease was extended, providing a full 15-year initial base lease term with four 5-year tenant renewal options. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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