Game Guides
Other Pages
Best Software Providers
Popular List
Best Payment Methods
Most Popular
Best Bonuses
Our Favourite Offers
Country Specific Pages
Popular List

Vici Acquires Four Properties in Alberta from Century Casinos

Posted on May 23, 2023 | 5:59 am

Vici Properties, the real estate investment trust which owns multiple casino properties in North America, has announced that its footprint in Canada will expand significantly through the acquisition of four properties in Alberta from Century Casinos.

The real estate investment trust will spend 221.7 million Canadian dollars in a sale-leaseback transaction to acquire Century Casino & Hotel Edmonton, Century Casino St. Albert, Century Mile Racetrack and Casino and Century Downs from Century Casinos.

The four casinos will be added to the existing master lease agreement between Vici Properties and Century Casinos. Once the deal is closed, the casino operator will have to pay a total of 17.3 million dollars in rent every year to the real estate investment trust.

Speaking about the transaction, Erwin Haitzmann and Peter Hoetzinger, co-Chief Executive Officers of Century Casinos, said that it allows the casino operator to have “greater financial flexibility” as it seeks to grow its business.

The funds from the sale will mainly be used by Century Casinos to make improvements at Nugget Casino Resort in Nevada. The company also plans to pay some of its debt from the money received from the sale, while also giving something back to shareholders through stock repurchases or a special dividend.

The casino operator recorded revenue of 430.5 million dollars in 2022, 10.8 percent higher than the previous year, but the profit declined by 37.6 percent to 13.6 million dollars.

Top casinos in Canada

Overall Rating
Overall Rating
Overall Rating
Read More

Confidence in the Canadian Gaming Market

Speaking about the acquisition, John Payne, President and Chief Operating Officer of Vici Properties, explained that the investment demonstrates the company’s “ongoing desire to expand internationally and confidence in the Canadian gaming market.”

Earlier this year Vici Properties made another significant investment in Canada by acquiring four venues from Pure Canadian Gaming Corporation. That purchase was also done through a sale leaseback transaction for a price of 271.9 million Canadian dollars.

The venues acquired from Pure Canadian Gaming were also all located in Alberta: Pure Casino Edmonton and Pure Casino Yellowhead, both located in Edmonton, Pure Casino Calgary and Pure Casino Lethbridge.

VICI Properties was formed in 2017 when it spun off Caesars Entertainment Corporation as part of the company’s bankruptcy reorganization. The company is a real estate investment trust which specializes in casino properties and it owns several properties in the United States, including Caesars Palace, MGM Grand and the Venetian, three of the most famous entertainment facilities on the Las Vegas Strip.


“Vici acquires Century’s four Alberta properties for $164m“,, May 18, 2023.

Read More

To make this site work properly, we sometimes place small data files called cookies on your device.