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. Kramer Levin Naftalis & Frankel LLP acted as legal advisor to VICI Properties in connection with the transaction.
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 (Picture) with special counsel Jason Anderson and Alan Schacter and associates Natalie Chitayat, Kimberly Covington and Jeff Horowitz.
The Kramer Levin team advising VICI was led by Corporate partners Todd E. Lenson and Jordan M. Rosenbaum, and Real Estate partners James P. Godman and Tzvi Rokeach.
Involved fees earner: James Godman – Kramer Levin Naftalis & Frankel LLP; Todd Lenson – Kramer Levin Naftalis & Frankel LLP; Tzvi Rokeach – Kramer Levin Naftalis & Frankel LLP; Jordan Rosenbaum – Kramer Levin Naftalis & Frankel LLP; Jason Anderson – Milbank; Natalie Chitayat – Milbank; Deborah Conrad – Milbank; Kimberly Covington – Milbank; Jeffrey Horowitz – Milbank; Alan Schacter – Milbank;