Century Casino In Caruthersville Missouri

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• Century Casino In Caruthersville Missouri
• Century Casino In Caruthersville Missouri News

Century Casino In Caruthersville Missouri

Vici Properties

Type	Public
NYSE: VICI Russell 1000 Component
Industry	Real estate investment trust
Founded	October 6, 2017; 3 years ago Paradise, Nevada, U.S.
Headquarters	New York City, New York, U.S.
Revenue	$1.23 billion[1] (2020)
$896 million[1] (2020)
Total assets	$17.1 billion[2] (2020)
147[3] (2020)
Website	viciproperties.com

Vici Properties is a real estate investment trust (REIT) specializing in casino properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation. It owns 29 casinos, hotels, and racetracks and 4 golf courses throughout the United States.

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• Presentation of the Caruthersville Century Casino The Lady Luck Casino situated in Caruthersville, Missouri, is open to the public 24/7. One of its characteristics is its large gaming space of more than 200,000 square feet. There are around 500 slot machines and tables of 3 Card Poker, Blackjack, Craps, Roulette and Mississippi Stud available.

History[edit]

Vici Properties was formed as part of the Chapter 11 bankruptcy reorganization of Caesars Entertainment Operating Company (CEOC), the largest division of Caesars Entertainment. After placing CEOC into bankruptcy in January 2015, Caesars proposed splitting CEOC into two companies: a REIT, which would own the company's casinos, and an operating company, which would manage them.^[4] The plan was designed to maximize value for CEOC's creditors by taking advantage of favorable tax treatment for REITs.^[5] Several members of Congress opposed the plan, calling it an abuse of the REIT laws.^[6] They asked the Internal Revenue Service to deny tax-free status to the spin-off, but their protest went unheeded.^[6][7]

The spin-off of Vici to CEOC's creditors was completed on October 6, 2017, the day that CEOC emerged from bankruptcy.^[8][9][10] Vici began with a portfolio of nineteen casinos and racetracks, all leased to Caesars at a total initial annual rent of $630 million, and four golf courses.^[8][11] The company's name was adopted from the phrase 'Veni, vidi, vici,' commonly attributed to Julius Caesar.^[12]

Vici acquired Harrah's Las Vegas from Caesars in December 2017 for $1.1 billion, and leased it back at an initial annual rent of $87.4 million.^[13][14]

Century Casino In Caruthersville Missouri News

MGM Growth Properties, a REIT affiliated with Caesars competitor MGM Resorts International, offered in January 2018 to acquire Vici for an estimated $5.9 billion.^[15] Vici's board rejected the offer, deciding instead to proceed with a planned initial public offering.^[12] Vici completed its IPO on the New York Stock Exchange in February 2018, raising $1.2 billion.^[16][17]

The company moved its headquarters to New York City from the Las Vegas area in mid-2018.^[18][19]

Vici completed two transactions with Caesars in 2018, purchasing the Octavius Tower at Caesars Palace for $508 million and Harrah's Philadelphia for $242 million, and leasing them back to Caesars for $35 million and $21 million per year, respectively.^[20]

In 2019, Vici made two purchases in conjunction with Penn National Gaming. Vici bought the real estate of the Margaritaville Resort Casino in Louisiana and Greektown Casino–Hotel in Detroit for $261 million and $700 million, respectively, while Penn bought both properties' operating businesses and leased them from Vici for annual rent of $23 million and $56 million, respectively.^[21][22][23] Vici bought a second casino from Greektown seller Jack Entertainment, Jack Cincinnati Casino, in September 2019, paying $558 million for the real estate; Hard Rock International leased the property for $43 million per year.^[24][25]

In December 2019, Vici bought three casinos in Missouri and West Virginia from Eldorado Resorts in conjunction with Century Casinos: Isle Casino Cape Girardeau, Lady Luck Casino Caruthersville, and Mountaineer Casino, Racetrack and Resort.^[26] Vici paid $278 million for the real estate assets, and leased them to Century for $25 million per year.^[27] A month later, the company bought two more properties from Jack Entertainment, Jack Cleveland Casino and Jack Thistledown Racino, for a total of $843 million, leasing them back for $66 million per year.^[28]

In July 2020, Eldorado Resorts acquired Caesars Entertainment, becoming Vici's primary tenant, and renamed itself to Caesars Entertainment.^[29] In connection with this acquisition, Vici bought three properties (Harrah's Atlantic City, Harrah's Laughlin, and Harrah's New Orleans) from Caesars for a total of $1.8 billion, and leased them back to the new Caesars for $154 million per year.^[30]

In 2021, Vici struck its largest deal to date, agreeing to purchase the real estate of the Venetian complex on the Las Vegas Strip from Las Vegas Sands for $4 billion.^[31] The sale includes the Venetian and Palazzo casino hotels and the Sands Expo convention center.^[31]Apollo Global Management would acquire the operating business and lease the property from Vici for $250 million per year.^[31]

Properties[edit]

Casinos, hotels, and racetracks[edit]

The company owns the following casinos, hotels and racetracks. All of them are leased to Caesars Entertainment, except as noted:^[32]

• Caesars Atlantic City – Atlantic City, New Jersey
• Caesars Palace – Paradise, Nevada
• Caesars Southern Indiana – Elizabeth, Indiana
• Century Casino Cape Girardeau – Cape Girardeau, Missouri (leased to Century Casinos)
• Century Casino Caruthersville – Caruthersville, Missouri (leased to Century Casinos)
• Greektown Casino–Hotel — Detroit, Michigan (leased to Penn National Gaming)
• Hard Rock Casino Cincinnati — Cincinnati, Ohio (leased to Hard Rock International)
• Harrah's Atlantic City — Atlantic City, New Jersey
• Harrah's Council Bluffs – Council Bluffs, Iowa
• Harrah's Gulf Coast – Biloxi, Mississippi
• Harrah's Joliet – Joliet, Illinois (80 percent stake)^[33]
• Harrah's Lake Tahoe – Stateline, Nevada
• Harrah's Las Vegas – Paradise, Nevada
• Harrah's Laughlin — Laughlin, Nevada
• Harrah's Louisiana Downs – Bossier City, Louisiana
• Harrah's Metropolis – Metropolis, Illinois
• Harrah's New Orleans — New Orleans, Louisiana
• Harrah's North Kansas City – North Kansas City, Missouri
• Harrah's Philadelphia – Chester, Pennsylvania
• Harveys Lake Tahoe – Stateline, Nevada
• Horseshoe Bossier City – Bossier City, Louisiana
• Horseshoe Council Bluffs – Council Bluffs, Iowa
• Horseshoe Hammond – Hammond, Indiana
• Horseshoe Tunica – Robinsonville, Mississippi
• Jack Cleveland Casino – Cleveland, Ohio (leased to Jack Entertainment)
• Jack Thistledown Racino – North Randall, Ohio (leased to Jack Entertainment)
• Margaritaville Resort Casino – Bossier City, Louisiana (leased to Penn National Gaming)
• Mountaineer Casino, Racetrack and Resort – New Cumberland, West Virginia (leased to Century Casinos)
• Tunica Roadhouse – Robinsonville, Mississippi (closed)

Golf courses[edit]

The company owns and operates four golf courses:^[34]

• Cascata – Boulder City, Nevada
• Chariot Run – Laconia, Indiana
• Grand Bear – Saucier, Mississippi
• Rio Secco – Henderson, Nevada

Former properties[edit]

• Bally's Atlantic City – Atlantic City, New Jersey – Sold in 2020.^[35]
• Bluegrass Downs – Paducah, Kentucky – Closed in 2019; donated in 2020.^[36]
• Harrah's Reno – Reno, Nevada – Sold in 2020.^[37]

References[edit]

1. ^ ^abForm 10-K: Annual Report (Report). Vici Properties. February 18, 2021. p. 56 – via EDGAR.
2. ^Form 10-K: Annual Report (Report). Vici Properties. February 18, 2021. p. F-6 – via EDGAR.
3. ^Form 10-K: Annual Report (Report). Vici Properties. February 18, 2021. p. 15 – via EDGAR.
4. ^Howard Stutz (January 16, 2015). 'Caesars puts largest unit into bankruptcy; judge OKs routine motions'. Las Vegas Review-Journal – via NewsBank.
5. ^Tom Hals (March 3, 2015). 'Caesars' operating unit files bankruptcy exit plan'. Reuters. Retrieved 2018-02-25.
6. ^ ^abTom Hals (June 1, 2016). 'Members of U.S. Congress oppose Caesars' casino REIT plan'. Reuters. Retrieved 2018-02-25.
7. ^Form 8-K: Current Report (Report). Caesars Entertainment. January 6, 2017 – via EDGAR.
8. ^ ^ab'Vici Properties Inc., completes spin-off from Caesars Entertainment Operating Company' (Press release). Vici Properties. October 6, 2017 – via NewsBank.
9. ^Richard N. Velotta (October 6, 2017). 'Caesars completes merger, emerges from bankruptcy protection'. Las Vegas Review-Journal. Retrieved 2018-02-25.
10. ^Austen Hufford; Chris Kirkham (October 6, 2017). 'Caesars Entertainment unit preparing to exit bankruptcy'. Wall Street Journal. Retrieved 2018-02-25.
11. ^Form 10-Q: Quarterly Report (Report). Vici Properties. November 13, 2017. p. 10.
12. ^ ^abRichard N. Velotta (January 17, 2018). 'Caesars trust rejects offer from MGM Growth Properties'. Las Vegas Review-Journal. Retrieved 2018-02-25.
13. ^Todd Prince (November 29, 2017). 'Caesars to sell real estate under Harrah's to finance acquisition'. Las Vegas Review-Journal. Retrieved 2018-02-25.
14. ^'Vici Properties Inc. completes acquisition of Harrah's Las Vegas real property assets and related transactions' (Press release). Vici Properties. December 22, 2017. Retrieved 2018-02-25 – via BusinessWire.
15. ^Richard N. Velotta (January 16, 2018). 'MGM affiliate bids for real estate trust spun off by Caesars'. Las Vegas Review-Journal. Retrieved 2018-02-25.
16. ^Todd Prince (February 1, 2018). 'Caesars real estate owner raises more money than expected in IPO'. Las Vegas Review-Journal. Retrieved 2018-02-25.
17. ^'Vici Properties Inc. announces closing of initial public offering and full exercise of underwriters' overallotment option' (Press release). Vici Properties. Retrieved 2018-02-25 – via BusinessWire.
18. ^Form 10-Q: Quarterly Report (Report). Vici Properties. May 4, 2018. p. 29 – via EDGAR.
19. ^Form 10-Q: Quarterly Report (Report). Vici Properties. August 2, 2018. p. 34 – via EDGAR.
20. ^'Vici Properties Inc. completes acquisition of Harrah's Philadelphia and lease modifications' (Press release). Vici Properties. December 26, 2018. Retrieved 2018-12-29.
21. ^Sarah Crawford (June 19, 2018). 'Margaritaville Resort Casino sale is announced'. Shreveport Times. Retrieved 2018-06-19.
22. ^Stacy Wescoe (January 3, 2019). 'Penn National acquires Louisiana casino operations'. Lehigh Valley Business. Retrieved 2019-01-13.
23. ^'Vici Properties Inc. completes acquisition of Greektown Casino-Hotel and lease to Penn National Gaming' (Press release). Vici Properties. May 23, 2019. Retrieved 2019-05-26 – via BusinessWire.
24. ^Madeline Mitchell (September 20, 2019). 'Jack Cincinnati Casino sold to Hard Rock International for $745 million'. Cincinnati Enquirer. Retrieved 2019-09-21.
25. ^'Vici Properties Inc. completes acquisition of Jack Cincinnati Casino and lease to Hard Rock International' (Press release). Vici Properties. September 20, 2019. Retrieved 2019-09-21 – via BusinessWire.
26. ^Bailey Schulz (June 17, 2019). 'Eldorado Resorts selling 3 regional properties'. Las Vegas Review-Journal. Retrieved 2019-09-21.
27. ^'Century Casinos, Inc. enters into a definitive agreement to acquire the operations of three casinos from Eldorado Resorts' (Press release). Century Casinos. June 17, 2019. Retrieved 2019-09-21 – via PR Newswire.
28. ^Howard Stutz (January 25, 2020). 'VICI finalizes purchase of two Cleveland-area casinos; leases properties back to Jack Entertainment'. CDC Gaming Reports. Retrieved 2020-09-29.
29. ^Ken Ritter (July 20, 2020). 'Eldorado finishes $17.3B buyout of Caesars Entertainment'. Associated Press. Retrieved 2020-07-20.
30. ^'Vici Properties Inc. completes property acquisitions and lease modifications related to the Eldorado-Caesars merger' (Press release). Vici Properties. July 20, 2020 – via BusinessWire.
31. ^ ^abcMichelle Chapman (March 3, 2021). 'With sale of the Venetian, Las Vegas Sands exits the Strip'. Associated Press. Retrieved 2021-03-06.
32. ^'Casino Resorts'. Vici Properties. Retrieved 2018-02-25.
33. ^Form 10-Q: Quarterly Report (Report). Vici Properties. November 13, 2017. p. 17 – via EDGAR.
34. ^'Golf Courses'. Vici Properties. Retrieved 2018-02-25.
35. ^Richard N. Velotta (November 18, 2020). 'Caesars closes Bally's Atlantic City sale to Rhode Island company'. Las Vegas Review-Journal. Retrieved 2020-11-18.
36. ^Kelly Farrell (November 20, 2020). 'It's Bluegrass Downs: McCracken County announces 50-plus acre donation for sports complex'. The Paducah Sun. Retrieved 2020-12-26.
37. ^Jason Hidalgo (September 30, 2020). 'CAI Investments closes deal on purchase of Harrah's Reno building'. Reno Gazette-Journal. Retrieved 2020-10-04.

External links[edit]

• Business data for Vici Properties:

Retrieved from 'https://en.wikipedia.org/w/index.php?title=Vici_Properties&oldid=1015416741'

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