VICI News & Events

VICI Properties announced the $144.4M pending acquisition of the real estate assets of Deerfoot Inn & Casino, Great Northern Casino and two limited-service hotels that are adjacent to the Great Northern Casino located in Alberta, Canada, in connection with Pure Casino Entertainment Limited Partnership's pending take-private acquisition of Gamehost. Simultaneous with the closing of the Real Estate Transaction, the Portfolio will be added to the existing triple-net master lease agreement between VICI Properties and PURE and annual rent will increase by $11.6M representing an acquisition capitalization rate of 8.0%. The Portfolio rent will escalate at 1.0% on the first February 1 following a full 12 months post-closing and escalation will conform to the PURE Master Lease thereafter at the greater of 1.5% or the change in Canadian CPI. Additionally, the term of the PURE Master Lease will be extended such that, upon closing of the Real Estate Transaction, the PURE Master Lease will have a full 25-year initial base lease term, with four 5-year tenant renewal options. The tenants' obligations under the PURE Master Lease will continue to be guaranteed by Indigenous Gaming Partners. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in mid-2026. VICI plans to fund the Real Estate Transaction with a combination of cash on hand and drawing down funds on its existing multicurrency revolving credit facility. The Real Estate Transaction is expected to be immediately accretive to VICI upon closing.

One Beverly Hills announced a $4.3B financing to complete its development of a world-class mixed-use urban destination and residential enclave that redefines luxury living in the heart of Beverly Hills. The financing, led by J.P. Morgan and VICI Properties, is among the largest of its kind in the last decade. Spanning 17.5 acres, One Beverly Hills will introduce Aman's first urban residences, hotel, and members' club to the West Coast, alongside retail, hospitality, wellness and leisure concepts set within 10 acres of gardens and open space. The development, sponsored by Cain in partnership with Eldridge Industries, will connect an elegantly refurbished Beverly Hilton and Waldorf Astoria Beverly Hills, as well as provide 1800 underground parking spaces, creating a singular landmark of culture, sophistication, and sustainability. The closing of the financing follows strong momentum across both residential sales and commercial partnerships, with the first Aman-branded residential tower achieving significant sales, offering residences ranging from 2,550 sq foot two-bedrooms to 25,000 sq foot penthouses with sweeping views of the Pacific Ocean, Hollywood Hills, and downtown Los Angeles. Aman, known for its discreet, design-led approach to hospitality and unparalleled service, has built a portfolio across some of the world's most culturally significant destinations, spanning 20 countries, with 15 of its resorts and residential developments located within or close to UNESCO-protected sites, where the brand is entrusted to operate in some of the world's most sensitive and historic settings. Construction commenced in 2024, with vertical works beginning in autumn 2025 and phased delivery scheduled to commence from 2028. The project is expected to generate approximately $40B in local economic activity over 30 years and support more than 2,700 direct construction jobs. The financing comprises a $2.8B senior loan led by J.P. Morgan and a $1.5B mezzanine loan from VICI.

VICI Properties has expanded its long-term strategic relationship with Cain and Eldridge Industries by providing a $1.5B mezzanine loan behind a $2.8B senior loan commitment led by J.P. Morgan as part of the construction financing for One Beverly Hills. The VICI Mezzanine Loan represents a $1.05B incremental commitment beyond VICI's existing $450M investment in the project and is the culmination of the first expression of VICI's previously announced long-term strategic relationship with Cain and Eldridge Industries. One Beverly Hills, a landmark 17.5-acre luxury mixed-use project, is being developed by Cain and master planned by Foster + Partners. The development will be anchored by Aman Beverly Hills, bringing Aman's first West Coast hotel, Aman-branded residences, and Aman Club to Beverly Hills. The masterplan will also include a full-scale refurbishment of The Beverly Hilton, preserving the Hollywood landmark's status as a premier luxury destination while integrating it into the broader masterplan. Alongside its hospitality and residential offerings, One Beverly Hills will feature 10 acres of botanical gardens and open space, creating a lush, walkable setting with high-end retail, dining, and cultural experiences woven into the landscape. Construction on the One Beverly Hills development commenced in 2024, with vertical works beginning in the fall of 2025 and phased delivery scheduled to commence in 2027. The VICI Mezzanine Loan has an initial term of 4 years with one 12-month extension option and will be deployed over the course of the initial term, providing for consistent, monthly capital allocation. VICI intends to fund the investment with cash on hand. In connection with this increase in VICI's participation in the financing of the One Beverly Hills development, Cain, Eldridge Industries, and VICI have agreed in principle pursuant to a non-binding letter of intent to further their strategic relationship that was first announced in February 2025. The letter of intent expresses Cain, Eldridge Industries, and VICI's shared intention to expand their strategic relationship into an Experiential Cross-Capital Venture whereby the three companies will, when suitable, work together to identify, pursue, and potentially participate in the funding of each other's experiential investment activities in various structures. Accordingly, it is the intention of Cain, Eldridge Industries, and VICI that, upon maturity of the VICI Mezzanine Loan, the companies will seek opportunities to deploy VICI's returned capital into new experiential investments that meet each company's investment criteria. Additionally, VICI may from time to time and at its sole election present to Cain and Eldridge Industries experiential investment opportunities in which Cain and/or Eldridge Industries may participate.