An aerial view of the Rio Secco Golf Club in Las Vegas, which has turned day-to-day operations over … [+]
Cabot, which has focused primarily on developing and operating golf destinations with a resort and residential component, is now getting involved in the third-party golf management business.
Through it’s CDN Golf Management Inc. affiliate, Cabot has entered a 20-year agreement to manage and operate all four golf facilities owned by VICI Properties — including two prominent Las Vegas locations: Cascata and Rio Secco. VICI is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, and has a prominent presence on the Las Vegas Strip with Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas .
Cabot’s CDN affiliate now assumes all day-to-day operations at both Cascata and Rio Secco, along with Grand Bear Golf Club, a Jack Nicklaus design close to Harrah’s Gulf Coast Casino in Saucier, Mississippi, and Chariot Run, an equestrian-themed layout near the Horseshoe Southern Indiana Casino in Laconia, Indiana. Under the terms of the agreement, all VICI employees at the golf courses become employees of CDN.
“CDN enables us to leverage the growing strength of our management team,” said Cabot co-founder and Chief Executive Officer Ben Cowan-Dewar. “We are very excited to work with VICI to nurture the cultural, strategic and operational opportunities that we see at Cascata, Rio Secco, Grand Bear and Chariot Run. We look forward to welcoming VICI’s golf employees into our organization.”
VICI Properties President John Payne said the golf courses, and employees will benefit from the leadership and vision of the CDN management team.
To this point, Cabot has been focused primarily on ownership and development of its growing portfolio of properties that includes Cabot Cape Breton in Nova Scotia, Canada, Cabot Saint Lucia in the Caribbean, Cabot Revelstoke in British Columbia, Canada, Cabot Citrus Farms in Florida , and Cabot Highlands in Inverness, Scotland.
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