Milbank LLP advised leading casino entertainment company Eldorado Resorts, Inc. (“Eldorado”) in the $385 million sale of three properties: Mountaineer Casino Racetrack and Resort in New Cumberland, WV; Isle Casino Cape Girardeau in Cape Girardeau, MO; and Lady Luck Casino Caruthersville in Caruthersville, MO. Under the agreements, real estate investment trust VICI Properties Inc. (“VICI Properties”) will acquire the real estate assets and land from the aforementioned properties for approximately $278 million in cash while Century Casinos, Inc. (“Century Casinos”) will acquire the operating assets of each property for approximately $107 million in cash.
The Milbank team was led by Los Angeles Corporate partner Deborah Conrad with special counsel Jason Anderson and Alan Schacter and associates Natalie Chitayat, Kimberly Covington and Jeff Horowitz.
The transactions, expected to close in early 2020, are subject to regulatory approvals and other customary closing conditions.
