VICI Properties Inc. Completes Acquisition of Four Properties in Alberta, Canada in Sale-Leaseback Transaction With Century Casinos, Inc.
- Annualized rent increased by C$17.3 million (US$12.7 million)
- Lease extended with a full 15-year initial base lease term
- None.
– Expands Partnership with Century Casinos, Inc. by Adding Four Additional Assets to Existing Master Lease –
Simultaneous with the closing of the transaction, the Century Canadian Portfolio was added to the existing triple-net master lease agreement between VICI Properties and Century (the “Century Master Lease”) and annualized rent increased by
Additionally, the term of the Century Master Lease was extended such that the lease has a full 15-year initial base lease term, with four 5-year tenant renewal options, and Century has irrevocably agreed to exercise its initial renewal option.
The obligations of the tenants under the Century Master Lease continue to be guaranteed by Century Casinos, Inc.
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 54 gaming facilities across
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” “will,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond VICI’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect VICI’s business, results of operations and financial position are detailed from time to time in VICI’s filings with the Securities and Exchange Commission. VICI does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
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Investor:
Investors@viciproperties.com
(646) 949-4631
Or
David Kieske
EVP, Chief Financial Officer
DKieske@viciproperties.com
Moira McCloskey
SVP, Capital Markets
MMcCloskey@viciproperties.com
Source: VICI Properties Inc.