John Payne, President and Chief Operating Officer of VICI Properties said, “We are thrilled to close the JACK Cincinnati transaction, diversifying our geographic exposure by acquiring one of only four full-scale casino properties in the limited license state of Ohio, which continues to be one of the healthiest and fastest growing regional gaming markets across the country.

The tenant’s obligations under the lease are guaranteed by Seminole Hard Rock Entertainment, Inc., which maintains an investment grade rating from S&P Global Ratings and Fitch Ratings. The lease, which commences as of today, has an initial total annual rent of $42.75 million and an initial term of 15 years, with four 5-year tenant renewal options. Simultaneous with the closing of the transaction, the Company entered into a triple-net lease agreement with Hard Rock International (“Hard Rock”). The Company financed the transaction with cash on hand. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire all of the membership interests of a subsidiary of JACK Cincinnati that owns the casino-entitled land and real estate and related assets of JACK Cincinnati Casino (“JACK Cincinnati”), located in downtown Cincinnati, Ohio, for approximately $558 million in cash. NEW YORK-( BUSINESS WIRE)-VICI Properties Inc.

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