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Aug. 05, 2020

Kramer Levin Advises VICI in Property Acquisitions and Lease Modifications Related to the Eldorado-Caesars Merger

On July 20, Kramer Levin client VICI Properties Inc. (NYSE: VICI), an experiential real estate investment trust, announced that it has completed the transactions contemplated in the Master Transaction Agreement announced on June 24, 2019 with Caesars Entertainment, Inc. (Caesars, formerly known as Eldorado Resorts, Inc. or Eldorado) in connection with Eldorado’s acquisition of Caesars Entertainment Corporation. Per the terms of the Master Transaction Agreement, VICI Properties has acquired the land and real estate assets associated with Harrah’s New Orleans, Harrah’s Laughlin, and Harrah’s Atlantic City and modified certain provisions of the Caesars lease agreements for total consideration of approximately $3.2 billion in cash.

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