The tenant’s obligations under the lease are guaranteed by Seminole Hard Rock Entertainment, Inc., which maintains an investment grade rating from S&P Global Ratings and Fitch Ratings. The lease, which commences as of today, has an initial total annual rent of $42.75 million and an initial term of 15 years, with four 5-year tenant renewal options. Simultaneous with the closing of the transaction, the Company entered into a triple-net lease agreement with Hard Rock International (“Hard Rock”). The Company financed the transaction with cash on hand. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire all of the membership interests of a subsidiary of JACK Cincinnati that owns the casino-entitled land and real estate and related assets of JACK Cincinnati Casino (“JACK Cincinnati”), located in downtown Cincinnati, Ohio, for approximately $558 million in cash. – Adds Third Tenant Relationship Through Long-Term Partnership with Hard Rock –
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