After placing CEOC into bankruptcy in January 2015, Caesars proposed splitting CEOC into two companies: a REIT, which would own the company's casinos, and an operating company, which would manage them. Vici Properties was formed as part of the Chapter 11 bankruptcy reorganization of Caesars Entertainment Operating Company (CEOC), the largest division of Caesars Entertainment. It owns 53 casinos, hotels, and racetracks and 4 golf courses around the United States and Canada. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankruptcy reorganization. is a real estate investment trust (REIT) specializing in casino properties, based in New York City.
