VICI Properties Inc. (NYSE:VICI) is included among the 15 Cheapest Stocks with Highest Dividends.

On March 30, VICI Properties Inc. (NYSE:VICI) announced plans to acquire real estate assets tied to Deerfoot Inn & Casino, Great Northern Casino, and two nearby limited-service hotels in Alberta, Canada, for about CAD$200.6M (USD$144.4M). The deal is connected to PURE’s planned take-private acquisition of Gamehost Inc.

Once the transaction closes, these properties will be added to VICI’s existing triple-net master lease with PURE. Annual rent is expected to increase by CAD$16.1M (USD$11.6M), implying an 8.0% cap rate. Rent will rise by 1.0% after the first full year. After that, it will follow the lease’s standard escalation terms, set at the higher of 1.5% or Canadian CPI, with a cap at 2.5%. The lease term will reset to a new 25-year base period, with four optional 5-year renewals. Tenant obligations will continue to be supported by Indigenous Gaming Partners.

VICI Properties Inc. (NYSE:VICI) operates as a real estate investment trust. It focuses on owning and acquiring gaming, hospitality, wellness, entertainment, and leisure destinations under long-term triple-net leases. The company owns 93 experiential assets across a geographically diverse portfolio, including 54 gaming properties and 39 other experiential assets across the United States and Canada.

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