- Category
- Defining Matters
- Date
- Oct. 19, 2023
- Title
-
Kramer Levin Advises VICI in $432.9 Million Acquisition of Bowlero Bowling Centers
On Oct. 19, 2023, Kramer Levin client VICI Properties Inc. announced that it acquired the real estate assets of 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for an aggregate purchase price of $432.9 million. Bowlero is a global leader in bowling entertainment, media and events and is the largest operator of bowling centers in North America.
Simultaneous with the closing of the transaction, VICI entered into a triple-net master lease agreement with Bowlero. The transaction further enhances VICI’s embedded growth pipeline with a right of first offer for a term of eight years to acquire the real estate of current or future Bowlero properties should Bowlero elect to enter into a sale-leaseback transaction.
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