VICI Properties completes sale and leaseback of casinos in Alberta
The transaction is related to Pure Casino Entertainment Partnership’s take-private acquisition of Gamehost.
Canada.- VICI Properties has announced the completion of its previously announced CA$200.6m ($144.4m) acquisition of the real estate assets of Deerfoot Inn & Casino, Great Northern Casino and two limited-service hotels in Alberta, Canada.
The transaction is related to Pure Casino Entertainment Partnership’s take-private acquisition of Gamehost. The portfolio has been added to the existing triple-net master lease agreement between VICI Properties and Pure. Additionally, the term of the Pure Master Lease has been extended under a 25-year initial base lease term, with four 5-year renewal options.
In March, when VICI Properties announced the deal, President and COO John Payne said the move would deepen the company’s presence in a stable gaming jurisdiction alongside an existing partner. “Having worked alongside IGP and PURE, we have seen firsthand their ability to operate and grow a best-in-class gaming platform, and we are proud to continue supporting that growth as their real estate partner and capital provider,” he said.
