VICI Properties To Acquire Four Properties In Alberta Canada In Sale-Leaseback Transaction With Century Casinos

NEW YORK–(BUSINESS WIRE)–VICI Properties Inc. (NYSE: VICI), an experiential real estate investment trust, today announced that it 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. (NASDAQ: CNTY) for an aggregate purchase price of C$221.7 million (US$164.7 million) 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 (the “Century Master Lease”) and annual rent will increase by C$17.3 million (US$12.8 million) representing an implied acquisition capitalization rate of 7.8%. The property-level rent coverage ratio under the Century Master Lease, adjusted for the pending acquisition of Rocky Gap Casino Resort and the Century Canadian Portfolio, is expected to be approximately 2.0x. The transaction is expected to be accretive to VICI immediately upon closing.

Additionally, the term of the Century Master Lease will be extended such that, upon closing of the transaction, the lease will have a full 15-year initial base lease term, with four 5-year tenant renewal options. The tenants’ obligations under the Century Master Lease will continue to be guaranteed by Century Casinos, Inc.

John Payne, President and Chief Operating Officer of VICI Properties, said, “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. 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.

In addition to this release, the Company has furnished a Transaction Overview presentation, which is available on its website in the “Investors” section, under the menu heading “Events & Presentations” or please visit

Century Canadian Portfolio Overview

Century Casino
& Hotel

Century Casino
St. Albert

Century Mile
Racetrack and

Century Downs
Racetrack and

Gaming Square Feet










Slots / VLTs

800 / 30

410 / 24

570 / 14

663 / 10

Table Games



Hotel Rooms


About VICI Properties

VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties’ geographically diverse portfolio consists of 49 gaming facilities across the United States and Canada comprising approximately 124 million square feet and features approximately 60,100 hotel rooms and more than 450 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry leading gaming and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of investing and financing partnerships with leading non-gaming experiential operators, including Great Wolf Resorts, Cabot, Canyon Ranch and Chelsea Piers. VICI Properties also owns four championship golf courses and 34 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators. For additional information, please visit