VICI Properties is buying 4 Century Casinos properties in Canada for $165m. [Image: Shutterstock.com]
VICI Properties has reached an settlement to accumulate 4 Century Casinos properties in Canada for $165m. VICI already owns the true property of many main casinos throughout North America, together with Caesars Palace, MGM Grand Las Vegas, and the Venetian Las Vegas.
The true property funding belief announced its newest agreement in a press release on Wednesday. The properties in query embrace the Century On line casino & Resort Edmonton, Century On line casino St. Albert, the Century Mile Racetrack and On line casino, and the Century Downs Racetrack and On line casino in Calgary.
the third worldwide funding for VICI Properties
VICI Properties will lease the venues again to Century Casinos for an preliminary lease time period of 15 years. The annual lease, which isn’t confirmed within the shared particulars, will rise by $12.8m per 12 months. Each events anticipate the deal to shut within the second half of this 12 months, pending related regulatory approvals. It can mark the third worldwide funding for VICI Properties.
Commenting on the settlement, VICI Chief Working Officer and President John Payne mentioned the corporate is “happy to proceed rising our partnership with Century by supporting their asset monetization technique.”