VICI Properties has amended its master lease agreement with Pure Canadian Gaming Corp. following the acquisition of Pure's operating assets by Indigenous Gaming Partners (IGP). This development affects four Canadian casino properties: Pure Casino Edmonton, Pure Casino Yellowhead, Pure Casino Calgary, and Pure Casino Lethbridge.

The original agreement, established in January 2023 when VICI acquired the real estate assets, maintains its core terms:

• Annual rent: $16.1 million
• Base term: 25 years
• Four 5-year tenant renewal options
• 1.25% annual escalation starting year 3
• From year 4: escalation of 1.5% or Canadian CPI (capped at 2.5%), whichever is greater
• Minimum capital expenditure requirement: 1% of annual net revenue

Indigenous Gaming Partners, the new operator, is a collaboration of five tribal nations:

• Glooscap First Nation

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