VICI Properties signs 20-year triple-net lease for Century Mile & Downs with C$10.7 million base rent
VICI•VICI Properties agreed to a 20-year triple-net lease with Highfield for the Century Mile and Century Downs real estate in Alberta, with initial annual base rent of C$10.7 million. The deal is expected to close in Q4 2026 or Q1 2027, subject to regulatory approvals and customary conditions.
1. Lease terms
The lease includes four five-year renewal options, with annual rent increases set at the greater of 1.25% or the change in Canadian CPI, capped at 2.50%. VICI will amend its Century master lease to reduce annual base rent by C$10.7 million, keeping its aggregate rent unchanged.
