Case Study
CRE Due Diligence

Sale-Leaseback of Harrah’s Las Vegas Casino

Engagement

EMG was engaged by VICI Properties, Inc. (the buyer) to perform comprehensive due diligence services to facilitate the time-sensitive sale-leaseback transaction of all real estate assets associated with Harrah’s Las Vegas Hotel and Casino. The engagement was ultimately prompted by the consistent, reliable and accurate assessments EMG exhibited to meet critical deadlines for one of the Client’s close affiliates.

Result

EMG’s qualified team of dedicated experts worked diligently through the Thanksgiving holiday to deliver critical data for the tight closing within a quick 20-day transaction timeframe. The team worked alongside multiple parties and provided real-time updates to ensure the Client was kept abreast throughout the process. The thorough, and timely reports enabled the Client to receive funding for the purchase and announce the details of the acquisition to the public on the same day. EMG provided expert consulting services including Acquisition Scope Property Condition Assessments and Phase I Environmental Site Assessments in accordance with the requirements of ASTM standard for more than 2,500 guest rooms and 16 restaurants totaling 4.1 million square feet. The reports were completed in 16 business days, and qualified for EMG’s exclusive program – On Time. Every Time. Guaranteed – that ensures on-time report delivery.

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EMG Client

VICI Properties, Inc. & Harrah's Las Vegas Casino

Asset Type

Hospitality - Casino

Services Provided

  • Acquisition Scope Property Condition Assessment
  • Phase I Environmental Assessment

Size & Location

6 buildings, 4.1 million SF, 2500 rooms, Las Vegas, NV

Timing

16 business days