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ICI Properties, a U.S. hospitality and entertainment REIT, will buy Golden Entertainment’s casino real‑estate portfolio in a $1.16 billion sale‑and‑leaseback. The transaction covers land and buildings at seven Nevada casinos and includes a triple‑net master lease to a new entity led by CEO Blake L. Sartini, who will take over operations. It expands VICI’s Nevada holdings and gives it a foothold in the Las Vegas Locals market, the country’s second‑largest gaming segment by gross revenue in 2024.

    John Payne, VICI president and COO, said the company has long targeted the Las Vegas Locals market and is excited to add seven assets with customer bases. He praised Blake and Golden’s Nevada gaming expertise.

    Sartini noted Golden is sharpening its focus on core casino and tavern operations and sees the sale as a step toward becoming a private company. He said they’re eager to partner with VICI.

    Charles Protell, Golden president and CFO, thanked VICI for unlocking real‑estate value and praised the team’s execution.

    Read the latest IPE Real Assets magazine here.