VICI Properties completes sale-leaseback of Canadian casino portfolio for CAD$200.6 million

Corporate Action
โดย Business Wire·Read original
Summary · why it matters

VICI Properties has completed the acquisition of the real estate assets of Deerfoot Inn & Casino, Great Northern Casino, and two adjacent limited-service hotels in Alberta, Canada, for CAD$200.6 million, or USD$144.4 million, in connection with Pure Casino Entertainment's take-private acquisition of Gamehost. The portfolio was simultaneously added to the existing triple-net master lease between VICI and PURE, increasing annual rent by CAD$16.1 million, or USD$11.6 million, with rent escalating at 1.0% on February 1, 2028, and thereafter at the greater of 1.5% or the change in Canadian CPI capped at 2.5%. The PURE Master Lease term was extended to a full 25-year initial base lease term with four 5-year tenant renewal options, and tenant obligations continue to be guaranteed by Indigenous Gaming Partners. VICI funded the transaction through a Canadian dollar-denominated draw on its multicurrency revolving credit facility.

Impact on stocks 1

Real Estate▲ · 1 stocks
VICI Properties Inc
VICI
▲ PositiveCapitalrelevance

VICI completed a CAD$200.6M sale-leaseback, adding CAD$16.1M annual rent with escalators and extending lease term to 25 years.

Off-coverage companies 3

Pure Casino EntertainmentPrivate▲ Positive
Capitalrelevance

Pure Casino Entertainment completed take-private of Gamehost and expanded its master lease with VICI.

Gamehost Inc.Private± Mixed
Capitalrelevance

Gamehost was taken private by Pure Casino Entertainment; no public impact as it is no longer publicly traded.

Indigenous Gaming Partners Inc.Private± Mixed
relevance

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