Realty Income (NYSE:O), a REIT which provides monthly dividends, has completed the acquisition of assets of Encore Boston Harbor Resort and Casino from Wynn Resorts (NASDAQ:WYNN).
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Now, Wynn will continue to oversee the gaming integrated operations of the property which is subject to a triple net lease with Realty Income.
Importantly, the $1.7 billion deal represents the first acquisition in the gaming space for the REIT.
Analysts currently have a Moderate Buy consensus rating on the stock alongside an average price target of $68.06.
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