Initial total annual rent under the lease with Hard Rock is $90.0 million and the lease has an initial term of 25 years, with three 10-year tenant renewal options. This transaction has also allowed MGM Resorts to continue pursuing its long-term strategic objectives, demonstrating VICI’s ability to successfully collaborate with partners.” John Payne, President and Chief Operating Officer of VICI Properties, said, “We are excited to host Hard Rock as they establish their presence on the Las Vegas Strip and believe their addition to the operator roster in Las Vegas further enhances the attractiveness of the market for consumers. (NYSE: VICI) announced today that, in connection with Hard Rock International’s acquisition of the operations of the Mirage Hotel & Casino, the Company has entered into a triple-net lease agreement with Hard Rock with respect to the real property associated with the Mirage. VICI Properties Enters Into $90.0 Million Lease Agreement with Hard Rock International Related to the Mirage Hotel & Casino in Las Vegas
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