The multi-billion dollar owner of iconic Las Vegas mega resorts such as Caesars Palace, MGM Grand and the Venetian is exploring a deal for Paradise Island’s Atlantis resort.
Tribune Business can reveal that VICI Properties, a New York headquartered real estate investment trust (REIT) that owns 93 resort, gaming and hospitality assets spread across the US and Canada, is in talks with Atlantis’ current owner, Brookfield Asset Management, although the two parties have yet to reach agreement on a sale or how the potential deal may look.
VICI, which owns the physical real estate assets at all its properties, then leases them back to resort and gaming operators such as Caesars Entertainment, MGM Resorts International and Venetian Las Vegas, was identified as the new potential partner for Atlantis and Brookfield in the Central Bank of The Bahamas’ latest quarterly economic report.
