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 its subsidiary CDN Golf Management Inc., Cabot entered into a 20-year agreement to manage and operate the four golf facilities owned by VICI Properties, including two major Las Vegas locations: Cascata and Rio Secco. VICI is an experiential real estate investment fund with 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 subsidiary now assumes all day-to-day operations in Cascata and Rio Secco, as well as the Grand Bear Golf Club, a Jack Nicklaus design near Harrah’s Gulf Coast Casino in Saucier, Mississippi, and Chariot Run, a development on horse riding theme. near the Horseshoe Southern Indiana Casino in Laconia, Indiana. Under the terms of the agreement, all VICI employees on the golf courses become employees of CDN.
“CDN allows us to leverage the growing strength of our leadership team,” said Cabot co-founder and CEO Ben Cowan-Dewar. “We are excited to work with VICI to expand the cultural, strategic and operational opportunities we see at Cascata, Rio Secco, Grand Bear and Chariot Run. We look forward to welcoming VICI golf employees to our organization.
VICI Properties President John Payne said the golf courses and employees will benefit from the leadership and vision of CDN’s management team.
To date, Cabot has focused primarily on the ownership and development of its growing portfolio of properties which includes Cabot Cape Breton in Nova Scotia, Canada, Cabot St. Lucia in the Caribbean, Cabot Revelstoke in British Columbia, Canada, Cabot Citrus Farms in Florida. , and Cabot Highlands in Inverness, Scotland.