Century Downs Racetrack and Casino

VICI Properties Inc. Announces Third Quarter 2023 Results

Retrieved on: 
Wednesday, October 25, 2023

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended September 30, 2023.

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended September 30, 2023.
  • Total revenues for the quarter included $131.3 million of non-cash leasing and financing adjustments and $18.2 million of other income.
  • AFFO attributable to common stockholders was $547.6 million for the quarter, an increase of 16.4% compared to $470.7 million for the quarter ended September 30, 2022.
  • AFFO per share was $0.54 for the quarter, an increase of 10.7% compared to $0.49 for the quarter ended September 30, 2022.

VICI Properties Inc. Completes Acquisition of Four Properties in Alberta, Canada in Sale-Leaseback Transaction With Century Casinos, Inc.

Retrieved on: 
Wednesday, September 6, 2023

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY) (“Century”) for an aggregate purchase price of C$221.7 million (US$162.4 million).

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) an experiential real estate investment trust, today announced it has completed the previously announced transaction to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY) (“Century”) for an aggregate purchase price of C$221.7 million (US$162.4 million).
  • The transaction was funded through a combination of proceeds from the partial settlement of forward equity sale agreements and from drawing down funds under the Company’s existing revolving credit facility in Canadian dollars.
  • Simultaneous with the closing of the transaction, the Century Canadian Portfolio was added to the existing triple-net master lease agreement between VICI Properties and Century (the “Century Master Lease”) and annualized rent increased by C$17.3 million (US$12.7 million).
  • The obligations of the tenants under the Century Master Lease continue to be guaranteed by Century Casinos, Inc.

Century Casinos, Inc. Completes Sale-Leaseback of Four Properties in Alberta, Canada

Retrieved on: 
Wednesday, September 6, 2023

COLORADO SPRINGS, Colo., Sept. 6, 2023 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company") announced that it completed the sale of the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino ("Century Downs") in Calgary, Alberta (collectively, the "Century Canadian Portfolio") to subsidiaries of VICI Properties Inc. (NYSE: VICI) ("VICI") for an aggregate purchase price of CAD 221.7 million (USD $162.4 million*) in cash. The Company retained approximately CAD 154.5 million (USD $113.2 million*) of the purchase price after giving effect to the purchase of the Century Downs land, selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs.

Key Points: 
  • The Company retained approximately CAD 154.5 million (USD $113.2 million*) of the purchase price after giving effect to the purchase of the Century Downs land, selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs.
  • The annual rent escalator related to the Century Canadian Portfolio is capped at 2.5%.
  • "We are pleased to extend our good partnership with VICI to our Canada portfolio," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, remarked.
  • "This transaction provides us with the ability to pay down our debt and with greater financial flexibility as we continue to grow," Haitzmann and Hoetzinger concluded.

Century Casinos, Inc. Completes Sale-Leaseback of Four Properties in Alberta, Canada

Retrieved on: 
Wednesday, September 6, 2023

COLORADO SPRINGS, Colo., Sept. 6, 2023 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company") announced that it completed the sale of the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino ("Century Downs") in Calgary, Alberta (collectively, the "Century Canadian Portfolio") to subsidiaries of VICI Properties Inc. (NYSE: VICI) ("VICI") for an aggregate purchase price of CAD 221.7 million (USD $162.4 million*) in cash. The Company retained approximately CAD 154.5 million (USD $113.2 million*) of the purchase price after giving effect to the purchase of the Century Downs land, selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs.

Key Points: 
  • The Company retained approximately CAD 154.5 million (USD $113.2 million*) of the purchase price after giving effect to the purchase of the Century Downs land, selling expenses, Canadian and US taxes and proceeds to be paid to the minority owners of Century Downs.
  • The annual rent escalator related to the Century Canadian Portfolio is capped at 2.5%.
  • "We are pleased to extend our good partnership with VICI to our Canada portfolio," Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, remarked.
  • "This transaction provides us with the ability to pay down our debt and with greater financial flexibility as we continue to grow," Haitzmann and Hoetzinger concluded.

VICI Properties Inc. Announces Second Quarter 2023 Results

Retrieved on: 
Wednesday, July 26, 2023

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended June 30, 2023.

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended June 30, 2023.
  • The quarter's results and current liquidity enable VICI to continue in our pursuit of attractive domestic and international growth opportunities across the experiential landscape.
  • “In the second quarter, we continued to expand our international presence through the announced acquisition of four casino properties in Alberta, Canada with our existing tenant and partner, Century Casinos.
  • AFFO per share was $0.54 for the quarter, an increase of 11.9% compared to $0.48 for the quarter ended June 30, 2022.

Real Estate Development Processes Evolve with Cutting Edge Innovations

Retrieved on: 
Friday, June 2, 2023

NEW YORK, June 2, 2023 /PRNewswire/ -- In recent years, mixed-use real estate development has gained significant momentum worldwide, transforming the way we think about urban spaces. By integrating residential, commercial, and recreational elements into a single project, these developments offer a multitude of benefits for both developers and investors. In recent years, developers started to leverage cutting-edge solutions to streamline construction processes, enhance efficiency, and improve overall project management. The use of Building Information Modeling (BIM) allows for detailed planning and collaboration among various stakeholders, resulting in optimized designs and cost-effective construction methods. As for financing, mixed-use developments require significant investment due to their complex nature. However, the benefits they offer, including diversification and reduced risk, make them an attractive option for both developers and investors. VCI Global Limited (NASDAQ: VCIG), Kilroy Realty Corporation (NYSE: KRC), VICI Properties Inc. (NYSE: VICI), Armada Hoffler Properties, Inc. (NYSE: AHH), Essential Properties Realty Trust, Inc. (NYSE: EPRT)

Key Points: 
  • NEW YORK, June 2, 2023 /PRNewswire/ -- In recent years, mixed-use real estate development has gained significant momentum worldwide, transforming the way we think about urban spaces.
  • In recent years, developers started to leverage cutting-edge solutions to streamline construction processes, enhance efficiency, and improve overall project management.
  • VCI Global Limited (NASDAQ: VCIG), Kilroy Realty Corporation (NYSE: KRC), VICI Properties Inc. (NYSE: VICI), Armada Hoffler Properties, Inc. (NYSE: AHH), Essential Properties Realty Trust, Inc. (NYSE: EPRT)
    A rapidly emerging region for mixed-use real estate development is Southeast Asia.
  • VCI Global Limited (NASDAQ: VCIG) announced yesterday breaking news that, "its wholly owned subsidiary, V Capital Real Estate Sdn Bhd ("V Capital Real Estate") has been engaged as a consultant by Tinta Anggun Engineering Sdn Bhd ("Tinta Anggun").

Real Estate Development Processes Evolve with Cutting Edge Innovations

Retrieved on: 
Friday, June 2, 2023

NEW YORK, June 2, 2023 /PRNewswire/ -- In recent years, mixed-use real estate development has gained significant momentum worldwide, transforming the way we think about urban spaces. By integrating residential, commercial, and recreational elements into a single project, these developments offer a multitude of benefits for both developers and investors. In recent years, developers started to leverage cutting-edge solutions to streamline construction processes, enhance efficiency, and improve overall project management. The use of Building Information Modeling (BIM) allows for detailed planning and collaboration among various stakeholders, resulting in optimized designs and cost-effective construction methods. As for financing, mixed-use developments require significant investment due to their complex nature. However, the benefits they offer, including diversification and reduced risk, make them an attractive option for both developers and investors. VCI Global Limited (NASDAQ: VCIG), Kilroy Realty Corporation (NYSE: KRC), VICI Properties Inc. (NYSE: VICI), Armada Hoffler Properties, Inc. (NYSE: AHH), Essential Properties Realty Trust, Inc. (NYSE: EPRT)

Key Points: 
  • NEW YORK, June 2, 2023 /PRNewswire/ -- In recent years, mixed-use real estate development has gained significant momentum worldwide, transforming the way we think about urban spaces.
  • In recent years, developers started to leverage cutting-edge solutions to streamline construction processes, enhance efficiency, and improve overall project management.
  • VCI Global Limited (NASDAQ: VCIG), Kilroy Realty Corporation (NYSE: KRC), VICI Properties Inc. (NYSE: VICI), Armada Hoffler Properties, Inc. (NYSE: AHH), Essential Properties Realty Trust, Inc. (NYSE: EPRT)
    A rapidly emerging region for mixed-use real estate development is Southeast Asia.
  • VCI Global Limited (NASDAQ: VCIG) announced yesterday breaking news that, "its wholly owned subsidiary, V Capital Real Estate Sdn Bhd ("V Capital Real Estate") has been engaged as a consultant by Tinta Anggun Engineering Sdn Bhd ("Tinta Anggun").

VICI Properties Inc. to Acquire Four Properties in Alberta Canada in Sale-Leaseback Transaction With Century Casinos, Inc.

Retrieved on: 
Wednesday, May 17, 2023

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced that it has entered into definitive agreements to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY) (“Century”) for an aggregate purchase price of C$221.7 million (US$164.7 million) in cash.

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced that it has entered into definitive agreements to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St. Albert and Century Mile Racetrack and Casino, each in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta, (collectively the “Century Canadian Portfolio”) from Century Casinos, Inc. (NASDAQ: CNTY) (“Century”) for an aggregate purchase price of C$221.7 million (US$164.7 million) in cash.
  • Simultaneous with the closing of the transaction, the Century Canadian Portfolio will be added to the existing triple-net master lease agreement between VICI Properties and Century (the “Century Master Lease”) and annual rent will increase by C$17.3 million (US$12.8 million) representing an implied acquisition capitalization rate of 7.8%.
  • The property-level rent coverage ratio under the Century Master Lease, adjusted for the pending acquisition of Rocky Gap Casino Resort and the Century Canadian Portfolio, is expected to be approximately 2.0x.
  • The transaction is expected to be accretive to VICI immediately upon closing.

VICI Properties Inc. Announces Agreement to Provide Capital Through Its Partner Property Growth Fund for Century Casinos’ Expansion

Retrieved on: 
Monday, December 5, 2022

VICI Properties Inc. (NYSE: VICI) (the Company or VICI or VICI Properties) announced today that it will utilize its Partner Property Growth Fund to provide capital for an exciting expansion project for Century Casinos, Inc. (NASDAQ: CNTY) (Century or Century Casinos).

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (the Company or VICI or VICI Properties) announced today that it will utilize its Partner Property Growth Fund to provide capital for an exciting expansion project for Century Casinos, Inc. (NASDAQ: CNTY) (Century or Century Casinos).
  • The project consists of a new land-based casino with an adjacent 38-room hotel tower at Century Casino Caruthersville, located in Caruthersville, Missouri.
  • John Payne, President and Chief Operating Officer of VICI Properties, said, We are very excited to continue to grow our partnership with Century by funding this expansion project through our Partner Property Growth Fund.
  • Since we jointly acquired three regional assets in 2019, the Century team has significantly enhanced performance at the properties by fine-tuning operations and focusing intently on customer satisfaction.

Century Casinos Provides Updates on Projects in Caruthersville, Missouri

Retrieved on: 
Monday, December 5, 2022

The Farmstead will be the only hotel in Caruthersville until the new hotel at the land-based Century Casino Caruthersville is completed.

Key Points: 
  • The Farmstead will be the only hotel in Caruthersville until the new hotel at the land-based Century Casino Caruthersville is completed.
  • These include statements about the cost, timing and prospects for the Caruthersville Project and timing for relocation of Century Casino Caruthersville.
  • These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management.
  • Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.