VICI Properties Inc. has agreed to acquire 100% of the land, real property and improvements of seven casino properties from Golden Entertainment for $1.16 billion. It also will enter into a triple-net master lease with a newly formed entity that will be owned and controlled by Blake L. Sartini, current chairman and CEO of Golden, that will acquire the operating business of golden in connection with the closing of the transaction.
The portfolio includes The Strat Hotel, Casino and Tower on the Las Vegas Strip; Arizona Charlie’s Decatur and Arizona Charlie’s Boulder in Las Vegas; Aquarius Casino Resort and Edgewater Casino Resort in Laughlin, Nev.; and Pahrump Nugget Hotel & Casino and Lakeside RV Park & Casino in Pahrump, Nev. The properties feature approximately 362,000 square feet of casino space and over 6,000 hotel rooms.
The transaction diversifies VICI’s real estate ownership in Nevada, and gives it entree to the Las Vegas Locals market, which it has long targeted due to consistent growth and favorable population increases.
“We are thrilled to acquire seven new assets across the state of Nevada with stick, durable customer bases,” said John Payne, VICI president and COO. “We look forward to initiating a partnership with Golden, having long admired the ability of Blake and the Golden team to operate within the various dynamics of the Nevada gaming market.”
“At Golden, we have continued to refine our business in recent years to focus on our core casino and tavern operations in Nevada, and we believe this transaction is the right next step in our evolution to a private company,” said Sartini. “After many years of watching VICI’s success, we are excited to partner with VICI on this important strategic transaction and to explore potential opportunities to grow our company.”
The transaction is expected to close in mid-2026. Deutsche Bank Securities is acting as VICI’s financial advisor and Hogan Lovells US LLP and Herbert Smith Freehills Kramer LLP are serving as legal advisors to VICI.
