VICI Properties Inc. - VICI STOCK NEWS

VICI Properties has announced an amendment and assignment of its master lease agreement with PURE Canadian Gaming Corp. to Indigenous Gaming Partners Inc. (IGP), a partnership of five institutional First Nations established for acquiring gaming assets in North America. IGP, partnering with Sonco Gaming, will maintain the existing lease terms, including annual base rent of C$22.0 million (US$15.5 million) for a 25-year base term with four 5-year renewal options.

The agreement covers four casino properties in Alberta, Canada: PURE Casino Edmonton, Yellowhead, Calgary, and Lethbridge. VICI received a 5-year right of first offer (ROFO) on future sale-leaseback transactions. The lease maintains its original escalation terms, starting at 1.25% in year 3 and adjusting to the greater of 1.5% or Canadian CPI (capped at 2.5%) from year 4.

VICI Properties announced the pricing of a $750 million senior unsecured notes offering through its subsidiary VICI Properties L.P. The notes, due 2031, carry a 5.125% interest rate and will be issued at 99.643% of par value. Interest payments will be made semi-annually on May 15 and November 15, starting May 15, 2025. The offering is expected to close on December 19, 2024.

The company plans to use the proceeds to repay its existing $750 million 3.500% senior notes due 2025, with any remaining funds allocated for general corporate purposes, including property acquisitions, improvements, capital expenditures, working capital, and debt refinancing.

VICI Properties (NYSE: VICI) has announced its Board of Directors' declaration of a regular quarterly cash dividend. Shareholders will receive $0.4325 per share of common stock for the period from October 1, 2024 to December 31, 2024. The dividend payment is scheduled for January 9, 2025, and stockholders must be on record by the close of business on December 17, 2024 to be eligible.

VICI Properties (NYSE: VICI) announced that Moody's Investors Service upgraded its issuer credit rating for VICI Properties L.P. to 'Baa3' from 'Ba1', with a stable outlook. This upgrade establishes VICI's investment grade status across all three rating agencies. The company's CFO, David Kieske, highlighted that this achievement reflects VICI's strong credit profile and strategic approach to transformational transactions. Moody's cited VICI's dominant size and scale, resilient operating cash flow, good liquidity, and disciplined financial policy as key factors in their decision.

PENN Entertainment reported Q3 2024 financial results with revenues of $1.64 billion and a net loss of $37.5 million. The company's retail business showed stable consumer demand, though affected by unfavorable hold in Northeast and weather disruptions in South segment. Interactive segment posted revenues of $244.6 million with an Adjusted EBITDA loss of $90.9 million, benefiting from better-than-expected hold and lower promotional expenses. Total liquidity stood at $1.8 billion with $834.0 million in cash. The company launched account linking between ESPN BET and ESPN on October 30th, expanding its online sports betting footprint to 19 U.S. states.

VICI Properties reported strong Q3 2024 results with total revenues increasing 6.7% year-over-year to $964.7 million. Net income attributable to common stockholders rose 31.7% to $732.9 million ($0.70 per share). The company deployed $230 million of capital through loan and Partner Property Growth Fund agreements and declared a quarterly dividend of $0.4325 per share, marking a 4.2% year-over-year increase. VICI updated its full-year 2024 AFFO guidance to between $2,360-2,370 million, or $2.25-2.26 per diluted share. The company ended Q3 with $355.7 million in cash and $630.2 million in estimated forward sale equity proceeds.

VICI Properties Inc. (NYSE: VICI) has announced the release date for its third quarter 2024 financial results. The company will disclose its results on Thursday, October 31, 2024 after the New York Stock Exchange closes. Following this, VICI Properties will host a conference call and audio webcast on Friday, November 1, 2024 at 10:00 a.m. Eastern Time (ET).

Interested parties can access the conference call by dialing specific numbers for domestic and international callers. An audio replay of the call will be available from 1:00 p.m. ET on November 1, 2024, until midnight ET on November 8, 2024. Additionally, a live audio webcast will be accessible through the company's website in the 'Investors' section, with a replay available for one year after the call.

VICI Properties, a leading experiential real estate investment trust, has released its 2023-2024 ESG Report, showcasing the company's progress in environmental, social, and governance initiatives over the past year. The report aligns with the SASB Real Estate Standard and TCFD reporting framework, while also demonstrating VICI's alignment with the UN Sustainable Development Goals.

CEO Ed Pitoniak emphasized VICI's focus on continuous improvement and growth, expressing pride in the company's ongoing sustainability efforts, advancements in community and employee impact, and commitment to responsible corporate governance. The comprehensive report is now available on VICI's website in the 'Corporate Responsibility' section, providing stakeholders with detailed insights into the company's ESG performance and strategies.

VICI Properties (NYSE: VICI) has announced its seventh consecutive annual dividend increase since formation. The company's Board of Directors declared a regular quarterly cash dividend of $0.4325 per share of common stock for the period from July 1, 2024 to September 30, 2024. This represents an annualized amount of $1.73 per share and a 4.2% increase from the current dividend rate. The dividend will be payable on October 3, 2024 to stockholders of record as of the close of business on September 18, 2024. This increase demonstrates VICI Properties' commitment to delivering value to its shareholders and reflects the company's strong financial position.