MGP - MGP STOCK NEWS

VICI Properties Inc. has finalized its acquisition of MGM Growth Properties LLC, expanding its portfolio to 43 Class-A properties with an estimated enterprise value of $44 billion. This merger increases VICI's annual rent by over $1 billion. The new triple-net master lease with MGM Resorts has an initial annual rent of $860 million, escalating at 2% annually. VICI has also raised $5 billion through senior unsecured notes to finance this transaction, marking a significant step in its balance sheet management. The acquisition diversifies VICI's tenant base to include eight industry leaders.

MGM Resorts International has successfully completed transactions with VICI Properties and MGM Growth Properties. VICI redeemed a majority of MGP units for $43 each, totaling around $4.4 billion in cash, and acquired all MGP class A shares. This deal grants MGM financial flexibility, enabling further investments to enhance shareholder value. Additionally, a new 25-year master lease was established, with an initial annual rent of $860 million, providing operational flexibility. MGM now owns a 1% stake in the VICI operating partnership.

MGM Growth Properties (MGP) reported strong first-quarter results for 2022, with net income attributable to Class A shareholders of $69.4 million ($0.44 per share). Consolidated rental revenue reached $195.1 million, while Funds From Operations (FFO) stood at $191.4 million ($0.71 per unit). Adjusted EBITDA was $253.6 million. The company maintained a solid financial position with approximately $7.6 million in cash and crucial rental income of $218.2 million during the quarter. MGP is well-positioned for future acquisitions in the entertainment and hospitality sectors.

MGM Growth Properties LLC (MGP) has announced a quarterly cash dividend of $0.53 per Class A common share for Q1 2022, marking an annualized increase to $2.12. This is MGP's 16th dividend increase since its IPO in April 2016. The dividend will be payable on April 14, 2022, to shareholders of record as of March 31, 2022.

MGP operates premier destination resorts, including 13 properties across Las Vegas and other locations, enhancing its potential for future acquisitions.

MGM Growth Properties LLC (MGP) reported strong financial results for Q4 and the full year 2021. For Q4, net income was $52 million, with a $0.33 EPS, and $193 million in rental revenue. Annual figures show a net income of $205.5 million ($1.36 EPS) and total rental revenue of $757.9 million. The company declared a cash dividend of $0.525 per share. Notably, MGP acquired MGM Springfield for $400 million, boosting annual rent payments by $30 million. However, an agreement to sell The Mirage to Hard Rock could reduce annual rent by $90 million. MGP focuses on expanding its real estate portfolio in the leisure sector.

MGM Growth Properties LLC (NYSE: MGP) announced the 2021 tax treatment for its Class A common share distributions. Key figures include a total distribution of $2.542500 per share, with a total taxable distribution of $2.017500. Ordinary dividends make up $1.636328, while the report indicates no qualified or capital gain distributions. The Company released this information to assist with tax filing procedures, emphasizing the need for shareholders to consult their tax advisors regarding the treatment of these distributions.

MGM Growth Properties LLC (NYSE:MGP) announced a quarterly cash dividend of $0.525 per Class A common share for Q4 2021, increasing its annualized dividend to $2.10. This marks the 15th increase since its IPO in April 2016. The dividend will be payable on January 14, 2022, to shareholders of record by the close of business on December 31, 2021. MGP currently holds a portfolio of 12 premier destination resorts across the U.S., with significant amenities including casino and hotel facilities.

MGM Growth Properties (MGP) reported a strong financial performance for Q3 2021, with a net income of $50 million, or $0.32 per share. Consolidated rental revenue reached $188.3 million, while Funds From Operations (FFO) was $151.5 million, equating to $0.56 per diluted unit. Adjusted Funds From Operations (AFFO) stood at $175.1 million, or $0.65 per diluted unit. The company distributed $139.4 million in cash to its partners, highlighting robust cash flow. MGP had $319.6 million in cash and equivalents, reinforcing its financial stability.

VICI Properties Inc. (NYSE: VICI) announced stockholder approval for the issuance of common stock related to its acquisition of MGM Growth Properties LLC (NYSE: MGP). Over 99.9% of votes favored the proposal during a special meeting, representing about 90% of VICI's outstanding shares. Shareholders of MGP Class A will receive 1.366 shares of VICI stock per MGP Class A share. The transaction is set to close in the first half of 2022, pending regulatory approvals and customary closing conditions.