LAS VEGAS (KLAS) — VICI Properties Inc., the owner to company on line casino giants up and down the Las Vegas Strip, introduced Thursday it has agreed to a $1.16 billion buy-and-lease-back take care of Golden Leisure Inc., proprietor of The STRAT, Resort, On line casino & Tower, two Arizona Charlie’s casinos, and properties in Laughlin and Pahrump.
The deal places Golden Leisure on the identical path as Caesars Leisure and MGM Resorts Worldwide with one exception: Golden Leisure’s chief, Blake Sartini, intends to take the corporate non-public.
VICI famous that the deal marks its step into the Las Vegas locals market — the second-largest gaming market within the U.S. in 2024 by gross gaming income — for the primary time.
In buy-leaseback offers, VICI owns the property and collects hire from the hotel-casino operators.
The brand new firm led by Sartini will grow to be VICI’s fifth-largest tenant, with an annual $87 million lease cost. The lease settlement runs for 30 years, with 4 five-year renewal choices. Funds will improve by 2% annually, starting within the third 12 months.
VICI will assume and repay as much as $426 million of Golden Leisure’s excellent debt.
Picture Courtesy The STRAT.
Apart from the long-lasting Stratosphere Tower and its resort and on line casino on Las Vegas Boulevard North, Golden’s properties embrace Arizona Charlie’s Decatur and Arizona Charlie’s Boulder within the Las Vegas locals market, the Aquarius On line casino Resort and Edgewater On line casino Resort in Laughlin, and Pahrump Nugget Resort & On line casino and Lakeside RV Park & On line casino in Pahrump. All of it provides as much as 362,000 sq. toes of on line casino house, over 6,000 resort rooms, 4,306 slot machines and 78 desk video games.
Golden Leisure’s PT’s Taverns and different properties weren’t included within the deal, falling below Sartini’s new firm.
Arizona Charlie’s on Boulder Freeway.
“VICI has sought exposure to the attractive Las Vegas Locals gaming market since our inception, and we are thrilled to acquire seven new assets across the state of Nevada with sticky, durable customer bases,” John Payne, president and COO of VICI Properties, mentioned in Thursday’s information launch. “We look forward to initiating a partnership with Golden, having long admired the ability of Blake and the Golden team to operate within the various dynamics of the Nevada gaming market.”
Sartini and Charles Protell, president and chief monetary officer for Golden, fielded questions this summer season from traders a couple of doable relationship with VICI, however there was no trace it may occur this shortly. Pending regulatory approvals, the deal is anticipated to shut in mid-2026.
The Edgewater On line casino Resort in Laughlin.
Golden Leisure reported a internet lack of $4.7 million within the third quarter. In 2024, third quarter internet earnings was $5.4 million. The third-quarter earnings name was canceled on Thursday because the information got here out.
“At Golden, we have continued to refine our business in recent years to focus on our core casino and tavern operations in Nevada, and we believe this transaction is the right next step in our evolution to a private company. After many years of watching VICI’s success, we are excited to partner with VICI on this important strategic transaction and to explore potential opportunities to grow our company,” Sartini mentioned.
“Since founding Golden in 2001, I have focused on providing exceptional service to our guests on the Las Vegas Strip, in our Nevada regional resorts, local casinos and at our market leading taverns. This mission will remain unchanged and I am incredibly honored to lead Golden’s 5,000 employees into the next stage of our evolution as a private company.”
As a part of the deal that takes the corporate non-public, Golden stockholders will obtain 0.902 shares of VICI frequent inventory for each share of Golden Leisure and a money distribution with proceeds from Blake Sartini of $2.75 for every share of Golden inventory held on the closing of the transaction. The agreed-to $30.00 share value represents a 41% premium to Golden’s closing share value on Nov. 5, 2025. Golden will proceed to pay shareholders common quarterly money dividends of $0.25 per share via the shut of the transaction.
