VICI Properties and Penn National Gaming acquired Greektown Casino-Hotel for $1bn.

An experiential real estate investment trust, announced that it has, together with Penn National Gaming entered into a definitive agreements to acquire the real property and operations of the Greektown Casino-Hotel, for approximately $1.0bn in cash. VICI Properties will acquire the land and real estate assets of Greektown for approximately $700m, and Penn National will acquire the operating assets of Greektown for approximately $300m. We are proud to expand our partnership with Penn National and add Greektown to our growing portfolio of market-leading gaming, hospitality and entertainment destinations. As the only casino located in Detroit’s historic Central Business District, Greektown, and its 30-story hotel tower, are ideally situated. The transaction represents another great example of VICI’s ability to source and execute accretive deals that bring value to our shareholders, while furthering our strategic goal to diversify our roster of best-in-class gaming operators.” John Payne VICI Properties President and CEO.