CENTURY CASINOS INC /CO/ (CNTY): M&A transaction — Century Casinos completes CAD 221.7M sale-leaseback of four Alberta properties to VICI

CENTURY CASINOS INC /CO/

Sold real estate of Century Casino & Hotel Edmonton, Century St. Albert, Century Mile, and Century Downs to VICI for CAD 221.7M ($162.4M USD).
Retained approx. CAD 154.5M ($113.2M USD) after land purchase, expenses, taxes, and payments to minority owners.
Master Lease amended to include the four properties; annual rent increased by CAD 17.3M ($12.7M USD) with 2.5% escalator cap.
Initial lease term extended to 15 years with four 5-year renewal options; Company guarantees subsidiary obligations.
Proceeds to be used for growth initiatives and/or paying down debt.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.99

CENTURY CASINOS INC /CO/ completed a disposition involving subsidiaries of VICI Properties Inc. for CAD 221.7 million ($162.4 million based on the exchange rate USD/CAD 0.7325) in cash (closed 2023-09-06).

Action: disposition
Counterparty: subsidiaries of VICI Properties Inc.
Consideration: CAD 221.7 million ($162.4 million based on the exchange rate USD/CAD 0.7325) in cash
Closing: 2023-09-06

Exact text from the filing

On September 6, 2023, Century Casinos, Inc. (the “Company”) completed its previously announced sale of the real estate assets (the “Transaction”) of Century Casino & Hotel Edmonton in Edmonton, Alberta, Century Casino St. Albert in Edmonton, Alberta, Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta (collectively, the “Century Canadian Portfolio”) to subsidiaries of VICI Properties Inc. (“VICI”) for an aggregate purchase price of CAD 221.7 million ($162.4 million based on the exchange rate USD/CAD 0.7325) in cash subject to the terms and conditions set forth in the Portfolio Agreement of Purchase and Sale (the “Purchase and Sale Agreement”), dated as of May 16, 2023.

View on SEC.gov

15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

CENTURY CASINOS INC /CO/ filing history →

Source: SEC EDGAR

accession 0000911147-23-000062

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.