Regional casino operator Eldorado Resorts has sold three of its venues to rival Century Casinos and real estate investment trust VICI Properties.

On Monday, Eldorado informed investors that it had reached a $385m deal to unload its West Virginia property Mountaineer Casino Racetrack & Resort (pictured) along with two Missouri riverboat operations – the Isle Casino Cape Girardeau and the Lady Luck Casino Caruthersville – to Century and VICI.

Assuming regulators approve, Century will pay $107m for control of the three venues’ operations while VICI will pony up $278m to acquire the casinos’ land and real estate assets. The deal requires Century to pay VICI an initial annual rent of $25m on the three properties for the first 15 years, with four five-year renewal options.

Eldorado CEO Tom Reeg called Monday’s sale announcement “consistent with our continued focus on optimizing the results from our regional gaming platform, generating growth through strategic acquisitions and realizing value through sales.”