DETROIT, MI—New York-based VICI Properties, an experiential real estate investment trust, in a joint arrangement with Penn National Gaming, is acquiring the real property and operations of the Greektown Casino-Hotel in downtown Detroit, MI, for approximately $1 billion in cash.
Under the terms of the agreements, VICI Properties will acquire the land and real estate assets of Greektown for approximately $700 million, and Penn National will acquire the operating assets of Greektown for approximately $300 million.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.