VICI Properties Inc. to Acquire Four Properties in Alberta Canada in Sale-Leaseback Transaction With Century Casinos, Inc.
17 Maggio 2023 - 1:30PM
Business Wire
VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the
“Company”), 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, (collectively the “Century Canadian Portfolio”)
from Century Casinos, Inc. (NASDAQ: CNTY) (“Century”) 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
https://investors.viciproperties.com/events-and-presentations.
Century Canadian Portfolio Overview
Century Casino & Hotel
Edmonton
Century Casino St.
Albert
Century Mile Racetrack and
Casino
Century Downs Racetrack and
Casino
Gaming Square Feet
29,225
13,269
19,407
17,459
Acreage
6.0
7.1
100.0
57.3
Slots / VLTs
800 / 30
410 / 24
570 / 14
663 / 10
Table Games
23
10
-
-
Hotel Rooms
26
-
-
-
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
www.viciproperties.com.
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,”
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,
including the risk that the pending transaction may not be
consummated on the terms or the timeframe described in this press
release or at all and the risk that we may not achieve the benefits
contemplated by the transaction, which are, in some cases, beyond
the Company’s control and could materially affect actual results,
performance, or achievements. Other important risk factors that may
affect the Company’s business, results of operations and financial
position are detailed from time to time in the Company’s filings
with the Securities and Exchange Commission. The Company 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230517005344/en/
Investors: Investors@viciproperties.com (646) 949-4631 Or
David Kieske EVP, Chief Financial Officer
DKieske@viciproperties.com Moira McCloskey SVP, Capital Markets
MMcCloskey@viciproperties.com
Grafico Azioni Vici Properties (NYSE:VICI)
Storico
Da Set 2024 a Ott 2024
Grafico Azioni Vici Properties (NYSE:VICI)
Storico
Da Ott 2023 a Ott 2024