VICI leases two Alberta racetracks to Highfield for CAD 10.7 million annual rent
VICI Properties announced a 20-year triple-net lease with Highfield Investment Group for the Century Mile and Century Downs racetracks in Alberta, Canada. The lease starts at CAD 10.7 million in annual rent, with yearly increases tied to 1.25% or Canadian CPI, capped at 2.50%, whichever is higher. Completion is expected in Q4 2026 or Q1 2027, subject to conditions and regulatory approvals.
The long-term lease sets rent terms for Highfield and depends on completion conditions and regulatory approvals.