M&A
confidence high
sentiment positive
materiality 0.90
VICI Properties completes $4B acquisition of Venetian Resort real estate; 30-year lease with Apollo
VICI PROPERTIES INC.
- Acquired all land and real estate of The Venetian Resort Las Vegas and Venetian Expo for $4.0B cash from Las Vegas Sands.
- Apollo affiliate purchased operating assets for $2.25B, including $1.2B secured seller term loan and rest cash.
- Entered 30-year triple-net lease with Apollo affiliate; initial annual rent $250M with two 10-year renewal options.