Published
Land-BasedCasinoMergers & Acquisitions

VICI Properties acquires four Canadian Gaming properties for US$200m

VICI Properties has acquired four Canadian Gaming properties in a sale leaseback transaction with Pure Canadian Gaming Corporation for an aggregate purchase price of approximately C$271.9m (US$200.8m).

vici properties canada 1
Listen To Article

The real estate investment trust has acquired the real estate assets of Pure Casino Edmonton in Edmonton, Pure Casino Yellowhead, also in Edmonton, Pure Casino Calgary in Calgary, and Pure Casino Lethbridge in Lethbridge. All four properties are in the province of Alberta.

Pure Casino Edmonton has 27 table games and 16 poker tables, while Pure Casino Yellowhead has 24 and 15 respectively. Edmonton has 852 slots and 28 VLTs, with Yellowhead boasting tallies of 753 and 26 respectively.

Pure Casino Calgary, meanwhile, has 27 table games and 12 poker tables, with 11 and 13 respectively at Pure Casino Lethbridge. The former has 832 slots and 22 VLTs, compared to the latter’s 427 and 28 respectively.

VICI financed the transaction with a combination of cash on hand and from drawing down funds under its existing revolving credit facility in Canadian dollars. The deal represents the group’s first international investment, with the acquisition to be immediately accretive.

Alongside the acquisition, VICI has entered into a triple-net master lease agreement with Pure covering the Pure Portfolio. The lease has an initial total annual rent of approximately C$21.8m, and an initial term of 25 years, with four 5-year tenant renewal options.

“Over the last five and a half years, VICI has built a portfolio of market-leading experiential real estate,” said VICI Properties President and COO John Payne. “Today’s announcement marks another momentous first for VICI as we expand our footprint internationally into Canada with the acquisition of the Pure Portfolio. 

“This transaction highlights our ability to source, structure, and fund cross-border transactions, widening our opportunity set as we continue along our growth trajectory. We are pleased to add Pure as our eleventh tenant and look forward to a mutually beneficial partnership.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Crown Melbourne
Resorts World Las Vegas
Crown Melbourne
Global Gaming Women
Svenska Spel
Follow Us

Facing facts: FY revenue figures reflect a turbulent '24

Who soared high and who fell behind in 2024? Gambling Inside...

Taking stock: Moving through to Q2

Gambling Insider tracks online casino operator and supplier...

Preview: This year's Global Gaming Awards Asia-Pacific and Americas

It’s that time of year once again, as the Global Gaming Aw...

Costa Rica: Effective regulation is the industry's path forward

Gambling Insider Senior Staff Writer Beth Turner spoke with...

Preview: Global Gaming Awards Asia-Pacific 2025

The Global Gaming Awards Asia-Pacific’s highly anticipated...

Preview: SiGMA Manila 2025

The return of the Philippines’ annual summer gaming summit...

Company profile: Gameplay Interactive

A multi-currency & multilingual white-label and turnkey solu...

Company profile: Lynon

Expertise & commercial flexibilities: In the ever-changing l...