VICI Properties pays $433m for entertainment centers, entering sector
VICI Properties has acquired the real estate assets of 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for $432.9 million. Bowlero is an entertainment bowling center operator in North America.
Simultaneous with the closing of the transaction, VICI Properties entered into a triple-net, master-lease agreement with Bowlero.
The acquisition of the Bowlero Portfolio expands VICI’s portfolio with 38 bowling entertainment centers across 17 states, representing 11 new states for VICI – seven of which do not now have commercial casino gaming operations.
“We are excited to announce our entry into the family entertainment sector, a $15+ billion experiential category, with a best-in-class, growth-minded operator,” said John Payne, President & COO of VICI Properties. “At VICI, we seek to invest in non-commodity real estate centered on experiences benefiting from long-term secular tailwinds, and Bowlero’s track record of gro