Vici Properties has made a significant move by entering into a $510 million financing deal to support a tribal casino in northern California, owned by the North Fork Mono Rancheria and operated by Station Casinos. This is a notable partnership for both companies, marking Vici’s first transaction with Station.
Key Points
- Vici Properties announced a $510 million financing arrangement for the North Fork Mono casino project.
- The financing includes two tranches: $340 million (with Vici contributing $125 million) and $385 million entirely from Vici.
- This project is Vici’s second loan investment on tribal land and a first-time partnership with Station Casinos.
- Vici emphasizes its strong balance-sheet management amidst the financing deal.
- The company is also engaged in a $300 million retail development project in Beverly Hills.
Why should I read this?
This article dives into a fresh and relevant development in the gaming industry, showcasing how Vici Properties is expanding its reach and influence through strategic investments in tribal projects. It’s not just another financing story; it’s about partnerships that could reshape the future of gaming—and you’ll want to be in the know!