Century Casinos Inc

VICI Properties Inc. has agreed to enter a new separate triple-net lease with a subsidiary of Highfield Investment Group, Inc. for the real property of Century Mile Racetrack and Century Downs Racetrack in Alberta, Canada, tied to Century Casinos, Inc.'s agreement to sell the operations of those racetracks to Highfield. The Century Mile & Downs Lease will carry an initial annual base rent of C$10.7 million, or US$7.5 million as of the day prior to announcement, and will begin a new 20-year lease term with four 5-year renewal options upon closing. VICI has also agreed to amend its Master Lease with Century Casinos to account for the divestiture, reducing the annual base rent under that master lease by C$10.7 million, or US$7.5 million as of the day prior to announcement, with no change to the aggregate rent collected by VICI. The new lease escalates at the greater of 1.25% and the change in Canadian CPI capped at 2.50%, carries a minimum capital expenditure requirement equal to 1.0% of annual net revenue at each property, and is guaranteed by Highfield Investment Group, Inc. The transactions are expected to close in the fourth quarter of 2026 or the first quarter of 2027, subject to customary closing conditions and regulatory approvals, and will add Highfield as VICI's 17th tenant.