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VICI Properties Inc. to Acquire JACK Cleveland Casino and JACK Thistledown Racino in Sale Leaseback Transaction With JACK Entertainment

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VICI Properties Inc. to Acquire JACK Cleveland Casino and JACK Thistledown Racino in Sale Leaseback Transaction With JACK EntertainmentReading Time: 3 minutes

 

VICI Properties Inc., an experiential real estate investment trust, today announced it has entered into a definitive agreement with an affiliate of JACK Entertainment LLC to acquire 100% of the membership interests of its affiliates that own casino-entitled land and real estate and related assets associated with JACK Cleveland Casino, located in downtown Cleveland, Ohio, and JACK Thistledown Racino, located approximately 10 miles southeast of downtown Cleveland in the city of North Randall, Ohio, for an aggregate purchase price of approximately $843.3 million in cash.

Simultaneous with the closing of the transaction, the Company will enter into a master triple-net lease agreement with JACK Entertainment related to the assets. The master lease will have an initial total annual rent of $65.9 million, for an implied capitalization rate of 7.8%, and an initial term of 15 years with four 5-year tenant renewal options. The rent coverage ratio at closing is expected to be approximately 1.72x and the tenant’s obligations under the lease will be guaranteed by Rock Ohio Ventures LLC. Additionally, the Company will provide a $50 million loan secured by certain non-gaming real estate assets of Rock Ohio Ventures LLC, which will bear interest at 9.0% for a period of five years with two 1-year extension options.

John Payne, President and Chief Operating Officer of VICI Properties said, “We are excited to partner with the team at JACK Entertainment as they focus on investing and operating in the Cleveland market. Ohio continues to be one of the healthiest and fastest growing regional gaming markets and we are thrilled to add high-quality, urban real estate to our portfolio at an attractive capitalization rate. This transaction represents another great example of VICI’s ability to creatively source and execute accretive deals that bring value to our shareholders, while furthering our strategic goal to diversify our roster of best-in-class gaming operators.”

“JACK Entertainment looks forward to continuing to operate JACK Cleveland Casino and JACK Thistledown Racino,” said Mark Dunkeson, Chief Executive Officer of JACK Entertainment. “The combined efforts of our gaming properties together with the other Cleveland assets operated by our sister companies including the Cleveland Cavaliers, Avenue Shops at Tower City and the May Company Building, have created a strong connection to the city and allows us to remain heavily committed to the Cleveland area. We have invested more than $700 million into JACK Cleveland Casino and JACK Thistledown Racino since the properties opened in 2012 and we will continue to invest significant capital into these properties which will have a lasting positive impact on the city and Cuyahoga County.”

David Kieske, EVP, Chief Financial Officer of VICI Properties, also commented, “The acquisition of JACK Cleveland Casino and JACK Thistledown Racino will add an additional $65.9 million of rent to our portfolio upon closing. Importantly, we will not issue additional equity to finance the transaction as we prudently secured our equity funding requirements through our successful June 2019 equity offering. Accordingly, we anticipate closing our remaining pending transactions, including our previously announced transactions with Century Casinos, Inc. and Eldorado Resorts, Inc., on a leverage-neutral basis.”

JACK Cleveland Casino opened in May 2012 in the historic Higbee Building in downtown Cleveland, Ohio. The property features approximately 96,000 square feet of gaming space, 1,300 gaming machines, over 120 table games and eight food and beverage outlets. The property is connected to the 205-key Ritz-Carlton and 440-key Renaissance hotels in downtown Cleveland. JACK Thistledown Racino opened in April 2013 in North Randall, Ohio and is the leading thoroughbred racino in the Cleveland MSA. The property is situated on 129 acres and features approximately 57,000 square feet of gaming space, 1,459 gaming machines and six food and beverage outlets.

The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in early 2020. The acquisition is expected to be accretive immediately upon closing.

In addition to this release, the Company has furnished a Transaction Overview presentation, which is available on our website in the “Investors” section, under the menu heading “Events & Presentations.”

Goldman Sachs & Co. LLC is acting as financial advisor and Kramer Levin Naftalis & Frankel LLP is acting as legal advisor to VICI Properties for the transaction described herein.

About VICI Properties

VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties’ national, geographically diverse portfolio consists of 24 gaming facilities comprising over 40 million square feet and features approximately 15,200 hotel rooms and more than 150 restaurants, bars and nightclubs. Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment Corporation, Penn National Gaming and Hard Rock International. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s highest quality and most productive experiential real estate portfolio. For additional information, please visit www.viciproperties.com.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: VICI Properties Inc. to Acquire JACK Cleveland Casino and JACK Thistledown Racino in Sale Leaseback Transaction With JACK Entertainment

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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The anatomy of a high-performing iGaming platform: a guide from Slotegrator

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Slotegrator, a gambling solutions provider and game aggregator, has released new downloadable material about the key components of a successful online casino platform. The guide includes practical checklists to help beginners set up platforms from scratch and experts enhance their projects.

In the iGaming industry, a project’s long-term success depends on the power and versatility of its platform. But that platform can’t be based on any old software; just like how you can’t have a car without four wheels and an engine, there are vital components to an online casino platform.

So what are they?

Let’s start with first impressions. The frontend is the “face” of a platform. Almost 75% of players judge a gambling website based on its appearance, and 88% of users won’t return after a negative experience.

Key frontend elements include:

  • Branding (visitors should understand the idea from the first glance)
  • Navigation (everything should be simple and easy to find)
  • Transparency (players must have easy access to relevant information)
  • Localization (adoption of language, currency and cultural norms).

If the frontend is the face, the backend is the brain. It should contain all the tools for successful online casino management. A quality backend should give the operator total, real-time monitoring and control over every aspect of a business — payment processing, regulatory compliance, game statistics, player data, retention strategies, analytics, compliance, player support, and everything else.

New operators often find themselves trying to choose whether to build such a platform in-house or to outsource the job. Slotegrator’s report carefully weighs the pros and cons of each option and reaches a clear conclusion: in-house development might save a little money in the short term, but it’ll cost much more in the long run.

“We created this guide to help operators to understand what truly belongs in a successful iGaming platform. An engaging frontend and a powerful backend are essential tools for attracting and retaining players. The guide is a valuable resource for evaluating a platform’s strengths and weaknesses and building a clear promotion strategy”, says Svetlana Kirichenko, Head of Marketing at Slotegrator.

Slotegrator’s guide also includes several key checklists:

  1. Essential frontend functions
  2. Key backend features
  3. Necessary modules for platform architecture (featuring a real example of Slotegrator’s turnkey online casino platform.

Download the guide via the link.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

The post The anatomy of a high-performing iGaming platform: a guide from Slotegrator appeared first on European Gaming Industry News.

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PAGCOR ORDERS TAKEDOWN OF GAMBLING BILLBOARDS

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The Philippine Amusement and Gaming Corporation (PAGCOR) has ordered the immediate dismantling of all billboards and out-of-home (OOH) gambling advertisements in its intensified efforts to regulate gambling-related promotions in public spaces.

In a memorandum issued on July 7, PAGCOR directed all licensees, suppliers, system administrators, and gaming venue operators to take down gambling ad materials, including those displayed on trains, buses, jeepneys, and taxis.

The agency emphasized that only institutional or responsible gaming campaigns—subject to PAGCOR’s approval—will be permitted moving forward.

“We have given all our licensees and stakeholders until August 15 to completely remove all gambling-related ads,” said PAGCOR Chairman and CEO Alejandro H. Tengco.

“Prior to that, stakeholders must also submit an inventory of their existing billboard and wallscape advertisements by July 16.”

The inventory, according to Mr. Tengco, must include the size, material, location, rental contract expiration, and the corresponding permit number from the Ad Standards Council (ASC).

The PAGCOR chief said the move is part of the state gaming agency’s commitment to promote a safer and more responsible gaming environment in the country.

“While PAGCOR is mandated to regulate the gaming industry and generate revenues for nation-building, we do not want to encourage a culture of gambling addiction,” he said.

“Regulating excessive and pervasive gambling advertisements is a critical step in protecting vulnerable sectors of society, especially the youth.”

The agency also warned against replacing the dismantled advertisements with new gambling promotions, stressing that non-compliance will be dealt with accordingly.

The post PAGCOR ORDERS TAKEDOWN OF GAMBLING BILLBOARDS appeared first on European Gaming Industry News.

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Week 28/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has released its latest title, Queen of Oasis. Set against the rolling ancient Egyptian dunes and lush, palm-lined oases, Queen of Oasis immerses players in an elegant world of riches. Camels, vultures, antelopes, snakes, and the powerful Queen herself bring this 5-reel slot to life. The reels sit within two ornate marble pillars where the bejewelled Queen represents the Wild symbol.

TaDa Gaming has released Golden Bank 2, a sequel to the popular Golden Bank slot. With a 10,000x max win and exciting features, Golden Bank 2 engage players with its immersive gameplay and the potential for substantial payouts. Set in a golden vault, Golden Bank 2 combines the simplicity of classic slots with the thrill of modern mechanics. With vibrant graphics and a dynamic soundtrack, the game immerses players in an exciting, high-stakes atmosphere.

Evoplay has launched Belfry Bliss Hold and Win, a fiery 5×3 slot that blends retro-inspired visuals with a darker twist on the fan-favourite Hold and Win mechanic. Set against a backdrop of flames and ringing bells, the game reintroduces Evoplay’s mischievous Devil character, not as a foe, but as a Wild symbol, lighting the way to potential wins. Classic slot icons like sevens, bars and cherries return, but the real action begins when the bells drop.

Brute Force: Alien Onslaught reunites the original Brute Force members… with a surprise addition. Joshua and Jason have recruited the help of Jade, a fearless mercenary, who doesn’t know defeat. This game joins the ranks of signature Nolimit City slots like Fire In The Hole 3, Highway To Hell and most recently Flight Mode. It’s time to lock and load, once again! Unlike the prequel, Brute Force: Alien Onslaught features a 6 reel setup, wilds and a new baddie, Xylox, who can steal multipliers from Joshua, Jason and Jade.

Push Gaming has returned to the deep blue with Fish ‘n’ Nudge Big Catch, a reimagined follow-up to one of its most beloved recent titles. Building on the charm and success of the originalFish ‘n’ Nudge, Big Catch brings fresh energy to the series with a new take on free spins and added layers of excitement designed to engage both loyal fans and new players.

 

Play’n GO unveils Rise of Orpheus, a mythical slot that takes players deep into the Underworld in pursuit of love, light, and powerful gameplay features. Following in the footsteps of mythology-inspired favourites like Gates of Troy and Rise of Olympus, Rise of Orpheus brings the tragic tale of Orpheus and Eurydice to life through emotionally charged mechanics and immersive storytelling.

Playson welcomes the return of its mischievous trickster in Super Pink Joker: Hold and Win, who features as a Wild during base play before shapeshifting into a lavish Multiplier for the renowned Hold and Win Bonus. Set in a dazzling pink world full of energy, the release cranks up the heat with dynamic animations and upbeat audio, with the jester taking his place on the enlarged 5×3 grid alongside electrified coins and cartoon-style fruits.

Blueprint Gaming™ reignites the prehistoric fun in its latest major branded IP release, The Flintstones™ Bedrock Riches, led by two lavish bonus games and an intriguing base play trail. The series’ original, The Flintstones™, enjoyed a strong initial uptake in users following its launch in May 2024, with players gravitating towards the familiarity of the brand and series. The renowned slot studio now feels confident the latest offering has built on key features and aims to retain players long term.

ELA Games, a dynamic game development studio, announces the release of John’s Book, its modern take on timeless themes and mechanics. The game invites players to join John the Explorer to hunt for ancient treasures buried in a Pharaoh’s tomb. Rich with iconic symbols and familiar mechanics, John’s Book is a tribute to the well-loved “Book Of…” format that’s prevalent in the industry while adding its twists. With high replayability, easy-to-understand features, and an immersive design, this title appeals to both veteran and casual players.

Players get to dig deeper with every spin as they search for gems and big wins in Wild Gold Mine, the latest slot release for iGaming content provider, ICONIC21. Wild Gold Mine promises a glistening player experience thanks to a cart-load of features, including a unique bonus that makes an appearance for the very first time in an ICONIC21 slot.

Hellish 7 Hold & Win”, (Höllische 7 Hold & Win in German) is now live, a spicy Classic Series slot from the Berlin-based developer Hölle Games. This is a new summer edition in the Hellish Seven franchise, known for its high volatility, hellishly good payouts, and hard rock riffs. The new entry features Hold & Win, where, if players can fill the reels with (any) cash symbol, they will win the impressive 7777x main prize!

Tom Horn Gaming is kicking off July with Panda Rica, a fast-paced 3×3 video slot that delivers simple yet captivating mechanics and vibrant visuals. From expanding wilds and multiplier wins to Star Gamble Ladder, the game is a standout addition to the supplier’s growing portfolio of slot titles. Designed for quick sessions and high engagement, Panda Rica combines classic slot appeal with clever gameplay that elevates the player experience.

Prepare for an unforgettable summer as Endorphina announces the highly anticipated release of Sticky Lips, its latest captivating slot. This visually striking title invites players into a vibrant world where Endorphina’s Joker makes a remarkable return, blowing irresistible kisses to make their winnings truly stick. She’s wild, she’s wicked – and her lips are ready to stick you with luck! Dare to stare into her eyes in this 5-reel 4-row slot with 50 fixed paylines and prove your worth to get a lucky, juicy kiss. With every spin, her lips glow and tempt, hungry to lock in golden wins.

 

The post Week 28/2025 slot games releases appeared first on European Gaming Industry News.

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