VICI Properties Inc. has completed a previously announced transaction 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 C$221.7 million (US$162.4 million).
The transaction was funded through a combination of proceeds from the partial settlement of forward equity sale agreements and from drawing down funds under the VICI’s existing revolving credit facility in Canadian dollars.
Simultaneous with the closing of the transaction, the properties were added to the existing triple-net master lease agreement between VICI Properties and Century and annualized rent increased by C$17.3 million (US$12.7 million).
