- Category
- Defining Matters
- Date
- Oct. 28, 2019
- Title
-
Kramer Levin Advises VICI in $843.3 Million Acquisition of JACK Cleveland Casino and JACK Thistledown Racino in Sale Leaseback Transaction With JACK Entertainment
On Oct. 28, 2019, Kramer Levin client VICI Properties Inc. announced that it has entered into a definitive agreement with an affiliate of JACK Entertainment LLC to acquire 100% of the membership interests of its affiliates that own casino-entitled land and real estate and related assets associated with JACK Cleveland Casino and JACK Thistledown Racino for approximately $843.3 million in cash.
Simultaneous with the closing of the transaction, VICI will enter into a master triple-net lease agreement with JACK Entertainment related to the assets.
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