Caesars Modern casino REIT Obtains Margaritaville Resort Casino inside Bossier Town

Caesars REIT plein acquisition of Louisiana’s Margaritaville Vacation resort hotel Casino, leases property towards Penn Domestic Gaming

VICI Properties launched Wednesday which it has done the purchase of Margaritaville Vacation resort hotel Casino with Bossier Locale, Louisiana meant for $261 mil in dollars. The company has additionally leased the property or home to betting house operator Penn National Video gaming.

VICI is definitely the real estate investment believe in that spun off Vegas gaming powerhouse Caesars Entertainment Corp. contained in the latter corporation’s lengthy Page 11 bankruptcy proceeding case.

VICI said yesteryear that it has got paid something like $261 thousand for the get and housing assets about Margaritaville Destination Casino. The property or house opened doors in 2013 and is the latest facility from the Bossier/Shreveport gaming market. That occupies several acres involving fee terrain and nearly 30 abundance of leased land. The very fee property features a 21, 500-square-foot internet casino floor using 1, 215 slot machines together with 50 gaming tables , a 395-room hotel, 4 restaurants and even food and beverage facilities, and also a 1, 000-seat theater, involving other creature comforts. The rented land carries a parking using 1, 600 spaces.

When VICI bought the land and real estate property assets belonging to the hotel in addition to casino vacation resort hotel, Penn Nationalized bought the particular operational assets of the house for $115 million with cash, bringing the aggregate cost to $376 million. More