For $164 million, Vici purchases Century's four sites in Alberta.

For $164 million, Vici purchases Century's four sites in Alberta.

 Trust for real estate investments  In a sale-leaseback deal, Vici Properties will pay CA$221.7m (£132.4m/$164.3m/€152.5m) in cash for the Alberta assets that Colorado-based Century Casinos owns.
 The Vici Century
 The operator's whole Canadian portfolio, including Century Casino & Hotel Edmonton, Century Casino St Albert, Century Mile Racetrack and Casino, and Century Downs, will be acquired by the former Caesars subsidiary.

 The casinos will be included in Vici and Century's current master lease arrangement.  The operator's yearly rent will rise by $17.3 million, or 7.8% of the acquisition's cost, following the deal's closing.

 Century Alberta homes are purchased by Vici.
 Erwin Haitzmann and Peter Hoetzinger, co-chief executives of Century, stated, "This transaction gives us more financial flexibility as we continue to grow and unlocks the real estate value of our Canadian properties while continuing our Canadian operations."

 The sale would be used for "general corporate purposes" and to finance upgrades at Century's Nugget Casino Resort in Nevada.
 
 St. Albert's Century Casino
 Additionally, they stated that they might utilise a portion of the sales to settle debt.  They also want to give shareholders their money back by repurchasing stock or paying out a special dividend.

 "We are still assessing how best to use our capital," they stated.