NYC-based VICI Properties, the casino REIT that pulled off the largest casino deal in Las Vegas in 2022, has started 2023 with a deal to acquire a portfolio of four casinos in Canada in a $200M sale-leaseback transaction—the REIT's first international acquisition.
The four properties were sold by PURE Canadian Gaming Corp., including PURE Casino Edmonton in Edmonton; PURE Casino Yellowhead, also in Edmonton; PURE Casino Calgary in Calgary; and the PURE Casino Lethbridge in Lethbridge.
In a statement announcing the deal, VICI said it financed the acquisition with a combination of cash on hand and by drawing down funds under its existing revolving credit facility.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
