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Exterior of Harrah's Las Vegas Caesars will continue to operate Harrah’s Las Vegas under a sale-leaseback arrangement with VICI.

LAS VEGAS—VICI Properties Inc., the gaming REIT spun off from Caesars Entertainment Operating Co. this past October, said late Friday it had completed its $1.136-billion acquisition of the land and real estate assets of Harrah’s Las Vegas Hotel & Casino from Caesars. The company also announced the closing of $2.6 billion in new credit facilities, proceeds of which will be used to partially fund the Harrah’s acquisition.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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