VICI buys four Canadian casinos

The biggest property owner in US casinos has gone international for the first time.

VICI Properties, which owns much of the land that many US casinos stand upon, has bought the real estate assets of four Canadian casinos in Alberta.

The sale is from Pure Canadian Gaming for US$200.8m. The venues are at Edmonton, Yellowhead, Calgary and Lethbridge. VICI then entered into a triple-net master lease agreement with Pure at an annual rent of C$21.8m over 25 years.

The four Canadian casinos have between them nearly 3,000 slots, over 100 table games and 100 VLTs, plus food and beverage outlets, show rooms, lounges and meeting spaces.