VICI Properties Inc. (NYSE: VICI) announced today that the Company has agreed to provide a construction loan for up to $287.9 million to Great Wolf Resorts, Inc related to the development of Great Wolf Lodge in Mashantucket, Connecticut, a family resort project adjacent to the Foxwoods Resort Casino. The 549-room indoor water park resort was officially announced today during a groundbreaking event and is expected to start welcoming guests by mid-2025.
This transaction represents VICI Properties’ fourth loan investment with Great Wolf for a total capital commitment of $553.4 million as part of the Company’s previously announced strategic arrangement to provide financing to support the funding of the development of Great Wolf’s pipeline.
VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties’ geographically diverse portfolio consists of 49 gaming facilities across the United States and Canada comprising approximately 124 million square feet and features approximately 59,300 hotel rooms and more than 450 restaurants, bars, nightclubs and sportsbooks. Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment, Inc., Century Casinos, Inc., the Eastern Band of Cherokee Indians, Foundation Gaming & Entertainment, LLC, Hard Rock International Inc., JACK Entertainment LLC, MGM Resorts International, Penn Entertainment, Inc., PURE Canadian Gaming Corp., and The Venetian Las Vegas. VICI Properties has a growing array of investing and financing partnerships with leading non-gaming experiential operators, including Great Wolf Resorts, Cabot, Canyon Ranch and Chelsea Piers. VICI Properties also owns four championship golf courses and 34 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip.