Business
VICI Properties Inc. Enters Into Agreements Relating to MGM Northfield Park in Northfield, OH
NEW YORK, October 16, 2025--VICI Properties Inc. (NYSE: VICI) ("VICI Properties", "VICI" or the "Company") announced today that, in connection with MGM Resorts International’s (NYSE: MGM) ("MGM Resorts") agreement to sell the operations of MGM Northfield Park ("Northfield Park"), located in Northfield, OH, to an affiliate of funds managed by Clairvest Group Inc. (TSX: CVG) ("Clairvest"), VICI has agreed to enter into a new separate lease with an affiliate of Clairvest with respect to the real pr
About this update from Mgm Resorts International
[{"type":"text","content":"- VICI Adds 14th Tenant -","length":25,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, October 16, 2025--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) ("VICI Properties", "VICI" or the "Company") announced today that, in connection with MGM Resorts International’s (NYSE: MGM) ("MGM Resorts") agreement to sell the operations of MGM Northfield Park ("Northfield Park"), located in Northfield, OH, to an affiliate of funds managed by Clairvest Group Inc. (TSX: CVG) ("Clairvest"), VICI has agreed to enter into a new separate lease with an affiliate of Clairvest with respect to the real property of Northfield Park (the "Northfield Park Lease") and also enter into an amendment to the Master Lease between VICI Properties and MGM Resorts (the "MGM Master Lease").","length":771,"tagName":"p"},{"type":"text","content":"Clairvest, a top-performing private equity management firm, is a recognized leader in the gaming sector having had ownership interests in 36 gaming assets over the last two decades. Clairvest is a sought-after partner with experience across regional casinos, racetracks, suppliers, technology providers and online gaming globally.","length":330,"tagName":"p"},{"type":"text","content":"John Payne, President and Chief Operating Officer of VICI Properties, said, "This transaction is yet another example of VICI’s ability to collaborate with new and existing partners for mutually beneficial outcomes. We are excited to add our 14th tenant, and based on Clairvest’s track record in North American gaming, we believe in their ability to maintain Northfield Park’s strong competitive standing in Ohio gaming."","length":430,"tagName":"p"},{"type":"text","content":"Michael Wagman, President and Managing Director at Clairvest, said, "Northfield Park is a high-quality asset in a compelling location, and we are looking forward to entering a new chapter of our firm’s decades-long history of investing in the gaming industry with VICI as our partner."","length":295,"tagName":"p"},{"type":"text","content":"The Northfield Park Lease will have an initial annual base rent of $53.0 million, and if closing occurs after May 1, 2026, such base rent shall be $54.0 million, reflecting the 2.0% annual escalation provided for in the MGM Mas...