VICI Properties Inc. has entered into definitive agreements to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta from Century Casinos Inc. for an aggregate purchase price of C$221.7 million (US$164.7 million) in cash.
Simultaneous with the closing of the transaction, the portfolio will be added to the existing triple-net master lease agreement between VICI Properties and Century.
“We are thrilled to announce our third international investment with the acquisition of Century’s four Canadian casino assets, demonstrating our ongoing desire to expand internationally and confidence in the Canadian gaming market,” said John Payne, president and chief operating officer of VICI Properties. “We are also pleased to continue growing our partnership with Century by supporting their asset monetization strategy, unlocking value that fuels their strategic growth initiatives.”
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the second half of 2023.
