The acquisition of the Greektown Casino-Hotel in Detroit, US, by Penn National Gaming has been completed.
The purchase was from Jack Entertainment for $300m in cash.
Penn has entered into a triple net lease agreement with Vici Properties for the Greektown facility. There is an initial annual rent of $55.6m and a term of 15 years with renewal options.
Greektown Casino-Hotel has 100,000sq.ft of casino, with 2,700 slots and 60 table games, poker room, three restaurants, seven fast food outlets, four bars and a coffee shop. There is also a 400-room hotel.
Penn operates 42 locations in 19 jurisdictions with 51,000 slots, 1,300 tables and 9,000 hotel rooms.
