On Oct. 28, 2019, Kramer Levin client VICI Properties Inc. announced that it has entered into a definitive agreement with an affiliate of JACK Entertainment LLC to acquire 100% of the membership interests of its affiliates that own casino-entitled land and real estate and related assets associated with JACK Cleveland Casino and JACK Thistledown Racino for approximately $843.3 million in cash.

Simultaneous with the closing of the transaction, VICI will enter into a master triple-net lease agreement with JACK Entertainment related to the assets.

The Kramer Levin team advising VICI is led by Corporate partners Todd E. Lenson and Jordan M. Rosenbaum, and Real Estate partners James P. Godman and Tzvi Rokeach, and includes Corporate partner David J. Fisher, counsel Michael McKay, associates Jeffrey H Taub, Matthew L. Klegon and Terron A. East, and law clerk Hillel Goldstein; Real Estate associates Seth R. Niedermayer, M. Mendel Trapedo, Simon Heimowitz and Dennis K. Heyman; Tax partner Barry Herzog and associate Rita Celebrezze D'Souza; and Environmental partner Charles S. Warren and Julia A. Quigley.

Related People

Related Practices