Exterior of Harrah's Las Vegas Caesars will continue to operate Harrah’s Las Vegas under a sale-leaseback arrangement with VICI.

LAS VEGAS—VICI Properties Inc., the gaming REIT spun off from Caesars Entertainment Operating Co. this past October, said late Friday it had completed its $1.136-billion acquisition of the land and real estate assets of Harrah’s Las Vegas Hotel & Casino from Caesars. The company also announced the closing of $2.6 billion in new credit facilities, proceeds of which will be used to partially fund the Harrah’s acquisition.