2023-05-17 07:51:21 ET
- VICI Properties ( NYSE: VICI ) 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 ( NASDAQ: CNTY ) for an aggregate purchase price of C$221.7M (US$164.7M) in cash.
- Simultaneous with the closing of the transaction, the Century Canadian Portfolio will be added to the existing triple-net master lease agreement between VICI Properties and Century and annual rent will increase by C$17.3 million (US$12.8 million) representing an implied acquisition capitalization rate of 7.8%.
- The transaction is expected to close in the second half of 2023.
- Source: Press Release
For further details see:
VICI Properties to acquire four properties in Alberta Canada