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Caesars Betting house REIT Receives Margaritaville Destination Casino inside Bossier Town

Caesars Betting house REIT Receives Margaritaville Destination Casino inside Bossier Town

Caesars REIT finishes acquisition of Louisiana’s Margaritaville Location Casino, rents property that will Penn State Gaming

VICI Properties declared Wednesday who’s has achieved the purchase of Margaritaville Turn Casino for Bossier Town, Louisiana with regard to $261 zillion in cash. The company also offers leased the property to on line casino operator Penn National Game playing.

VICI could be the real estate investment believe in that content spun off Nevada gaming giant Caesars Activity Corp. as part of the latter company’s lengthy Descrip . 11 individual bankruptcy case.

VICI said last week that it has paid about $261 million for the stretch of land and properties assets with Margaritaville Turn Casino. The property or home opened doors in 2013 and is modern facility during the Bossier/Shreveport gambling market. It occupies 4 acres associated with fee land and approximately 30 acres of leased land. The main fee territory features a 26, 500-square-foot casino floor utilizing 1, 215 slot machines in addition to 50 gambling tables , a 395-room hotel, some restaurants plus food and coffee facilities, in addition to a 1, 000-seat theater, among other amenities. The leased land contains a parking utilizing 1, 900 spaces.

Even though VICI bought the terrain and real estate assets on the hotel in addition to casino destination, Penn Nationwide bought the main operational resources of the property for $115 million for cash, using the aggregate sticker price to $376 million.myfreepokies.com Continue reading