VICI Properties Inc. announced a commitment of up to $510.0 million as part of a $725.0 million delayed draw term loan facility. This financing is for the development of the North Fork Mono Casino & Resort near Madera, California, which will be developed and managed by affiliates of Red Rock Resorts, Inc. This transaction marks VICI's first investment with Red Rock Resorts, a premier regional gaming operator.
The total VICI commitment of up to $510.0 million is comprised of up to $125.0 million in a $340.0 million Term Loan A and the full $385.0 million in a Term Loan B. The Term Loan A has a five-year term, and the Term Loan B has a six-year term. This investment represents VICI's second loan investment on tribal land, expanding its presence in this specialized sub-sector.
Upon completion, the North Fork Mono Casino & Resort is expected to feature approximately 2,400 slot machines, 40 table games, two restaurants, three bars, a food hall, and a small retail offering. This strategic investment diversifies VICI's partnerships and geographic reach within the gaming and entertainment sector, aligning with its multi-faceted capital allocation strategy.
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