PCI Gaming Authority’s purchase of the Magic City Casino has closed.

A deed recorded Monday in Miami-Dade County lists the sale price as $96 million, though experts have estimated the full value of the deal to be closer to $600 million, according to the Miami Herald. The property includes a license to operate slot machines, poker and electronic casino games in Miami.

PCI, owned by the Alabama-based Poarch Band of Creek Indians, purchased the property from the Havenick family, which has owned the site since the 1950s.

The 305,624-square-foot casino is southeast of Miami International Airport at 450 NW 37th Avenue, across the street from where Terra is redeveloping a strip mall and parking lot into a mixed-use development.