VICI Properties $1.14 billion acquisition of Harrah's real estate assets

Overview:

• REIT VICI Properties has acquired Harrah's real estate assets for $1.14 billion.
• The acquired property comprises over 4.1 million square feet, 96,600 feet of which is casino space.
• The real estate assets were sold by Caesar's Entertainment, who is leasing back the properties to Harrah's.
• VICI raised $850 million to finance acquisition through an equity offering.
• Harrah's was represented by in-house counsel.
• Financial advisers for VICI-Harrah on the deal were Goldman Sachs and Morgan Stanley.

Katrin Kostadinova - Data analyst