On June 19, 2018, Kramer Levin client VICI Properties Inc. announced that it has entered into a definitive agreement to acquire the land and real estate assets of Margaritaville Resort Casino for approximately $261 million cash, and Penn National Gaming Inc. will acquire the operating assets of the Margaritaville Resort Casino for approximately $115 million cash. Simultaneous with the closing of the transaction, a subsidiary of Penn National will enter into a triple-net lease agreement with a subsidiary of VICI. The deal is expected to close in the second half of 2018.

The deal was covered in a June 19, Law360 article titled “Kramer Levin Steers VICI's $261M La. Casino Resort Buy.“