VICI (VICI Properties Inc.) Adds Highfield Lease Without Changing Total Rent
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VICI Properties said on September 28, 2026, that it will place the Century Mile and Century Downs racetracks in Alberta under a new triple-net lease with a Highfield Investment Group subsidiary when Highfield buys the operating businesses from Century Casinos.
The new lease will start with C﹩10.7 million of annual base rent, equal to about US﹩7.5 million at the exchange rate cited by VICI. It will run for 20 years and include four five-year renewal options. Rent will escalate by the greater of 1.25% or Canadian inflation, capped at 2.50%.
VICI will reduce Century Casinos’ master-lease rent by the same C﹩10.7 million. The company therefore expects no change in its aggregate rent from the tenant transition, while adding Highfield as its 17th tenant.
Why it matters
The structure preserves stated rent and modestly broadens VICI’s tenant roster, but it does not add immediate rental income. Future security depends on Highfield’s operating performance and guarantee. The transaction remains subject to customary closing conditions and regulatory approvals, with completion expected in the fourth quarter of 2026 or the first quarter of 2027.
What to watch: Closing, regulatory approvals, and the two racetracks’ performance under Highfield.
Sources
This article is general information, not personalized investment advice. Fly High Investing may hold securities discussed in this article.