Vici Properties has agreed to a sale-leaseback transaction with Jack Entertainment in an $843 million deal.
The assets are JACK Cleveland Casino, located in downtown Cleveland, Ohio, and JACK Thistledown Racino, located approximately 10 miles southeast of downtown Cleveland in North Randall, Ohio.
John Payne, president and COO of VICI Properties, said, “Ohio continues to be one of the healthiest and fastest growing regional gaming markets, and we are thrilled to add high-quality, urban real estate to our portfolio at an attractive capitalization rate.”
JACK Cleveland Casino opened in May 2012 in the historic Higbee Building in downtown Cleveland. The property features approximately 96,000 square feet of gaming space, 1,300 gaming machines, more than 120 table games, and eight food and beverage outlets. The property is connected to the 205-room Ritz-Carlton and 440-room Renaissance hotels in downtown Cleveland. JACK Thistledown Racino opened in April 2013 in
