Vici Properties has issued an estimated closing date of April 30, 2026 for its $1.16bn acquisition of the land, real property and improvements of seven casino properties currently owned by Golden Entertainment.
While the transaction is still subject to the satisfaction of remaining customary closing conditions, both parties expect the deal to close on or around the projected April 30 date.
At the time of closing, Vici will enter into a triple-net master lease agreement with a newly formed entity owned and controlled by Golden Entertainment Chairman & CEO Blake Sartini.
Golden Entertainment shareholders will receive approximately 24.3 million shares of newly issued Vici stock in exchange for the outstanding shares of the operator’s stock.
Vici will also immediately assume and retire Golden Entertainment’s outstanding $426m of debt using a combination of cash on hand and net proceeds from outstanding forward sale agreements.
The master lease agreement with the newly formed Golden Entertainment entity will have an initial total annual rent of $87m and run for a 30-year term. The agreement contains four five-year renewal options, while rent will escalate annually at 2% beginning in the third year.
Golden Entertainment received shareholder approval for the transaction during a special meeting held on March 31.
Vici reported its financial results for the fourth quarter of 2025 and full-year on February 25, having increased revenue during the quarterly period by 3.8% to $1bn, even in spite of net income falling 1.6% to $604.8m.
The company attributed the decrease in net income to the impact of a change in the CECL allowance for Q4 2025, while AFFO rose 6.8% year-over-year for a total of $642.5m.
Vici will acquire the real estate assets of Gamehost’s Alberta casino portfolio as part of Pure Casino Entertainment’s takeover bid for the TSX-listed gaming operator, originally announced on March 30
