Caesars Gambling house REIT Obtains Margaritaville Turn Casino within Bossier Area

Caesars Gambling house REIT Obtains Margaritaville Turn Casino within Bossier Area

Caesars REIT plein acquisition of Louisiana’s Margaritaville Vacation resort hotel Casino, leases property to help Penn Domestic Gaming

VICI Properties reported Wednesday which it has accomplished the acquisition of Margaritaville Turn Casino in Bossier Town, Louisiana for $261 million in cash. The company in addition has leased the exact property to on line casino operator Penn National Games.

VICI is a real estate investment confidence that unique off Vegas gaming giant Caesars Fun Corp. within the latter carrier’s lengthy Segment 11 bankruptcy proceeding case.

VICI said last night that it possesses paid roughly $261 mil for the territory and housing assets involving Margaritaville Hotel Casino. The exact property opened entrance doors in 2013 and is the most recent facility inside Bossier/Shreveport game market. The idea occupies 3 acres for fee area and nearly 30 abundance of leased land. The fee terrain features a twenty six, 500-square-foot online casino floor having 1, 215 slot machines along with 50 games tables , a 395-room hotel, ?tta restaurants in addition to food and tipple facilities, in addition to a 1, 000-seat theater, between other facilities. The rented land features a parking with 1, five hundred spaces.

While VICI been given the get and real estate property assets from the hotel in addition to casino destination, Penn National bought the operational property of the premises for $115 million in cash, bringing the aggregate price to $376 million.myfreepokies.com Read More