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VICI Properties Inc. - VICI STOCK NEWS

Welcome to our dedicated page for VICI Properties news (Ticker: VICI), a resource for investors and traders seeking the latest updates and insights on VICI Properties stock.

VICI Properties Inc, traded under the ticker symbol VICI, is a renowned real estate investment trust (REIT) based in the United States. The company specializes in owning and acquiring premier gaming, hospitality, and entertainment destinations, which are subject to long-term triple net leases. This unique focus positions VICI Properties as a major player in the leisure and entertainment real estate sector.

The company operates through two primary segments: the Real Property Business and the Golf Course Business. The Real Property Business segment is dedicated to leasing properties, ensuring a stable and consistent revenue stream. The Golf Course Business segment, on the other hand, encompasses several high-profile golf courses, including the beautiful Cascata Golf Course, the expansive Rio Secco Golf Course, the picturesque Grand Bear Golf Course, and the scenic Chariot Run Golf Course. These properties add diversification and additional value to VICI's real estate portfolio.

VICI Properties prides itself on offering a full-service, worry-free solution for rental property management. The company's mission is to protect and maximize investors' real estate assets by ensuring minimal tenant vacancies and high property maintenance standards. This approach helps in maximizing cash flow and overall investment value.

Recent achievements highlight VICI Properties' strategic acquisition initiatives and robust financial health, making it a reliable choice for investors looking to add a stable, income-generating asset to their portfolio. The company has successfully forged partnerships and secured properties that significantly enhance its portfolio's value and appeal.

Whether you are an investor looking for superior property management services or you wish to purchase investment properties, VICI Properties Inc. offers expert solutions tailored to meet your needs. Stay updated on the latest developments and performance metrics of VICI Properties Inc. through our timely news updates and comprehensive analysis.

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VICI Properties Inc. (NYSE: VICI) has declared a quarterly cash dividend of $0.39 per share, marking an 8.3% increase and representing an annualized amount of $1.56 per share. This dividend is payable on October 6, 2022 to shareholders of record as of September 22, 2022. This announcement signifies the company's fifth consecutive annual dividend increase since its formation, highlighting its commitment to returning value to shareholders.

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VICI Properties Inc. has announced a definitive agreement to acquire Rocky Gap Casino Resort from Golden Entertainment for $260 million. The acquisition includes approximately $203.9 million for the property and $56.1 million for operating assets. This transaction will be instantly accretive, increasing annual rent by $15.5 million and extending the Century Master Lease by 15 years. The deal is expected to close mid-2023, pending regulatory approvals.

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Golden Entertainment announced the sale of Rocky Gap Casino Resort for a total cash consideration of $260 million. Century Casinos will acquire operations for $56.1 million, while VICI Properties will purchase the land and buildings for $203.9 million. The deal reflects about 10x Adjusted Property EBITDA for the trailing twelve months ended June 30, 2022. Expected to close by mid-2023 pending regulatory approvals, this transaction aims to enhance Golden's focus on core markets and is seen as a strategic move to improve financial flexibility and shareholder value.

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Century Casinos announced a definitive agreement to acquire the operations of Rocky Gap Casino Resort for approximately $56 million. The acquisition will be funded using cash from the company's balance sheet. VICI Properties will acquire the real estate assets for about $204 million and amend the lease to include Rocky Gap, with an initial rent of approximately $15.5 million annually. The deal, expected to close mid-2023, is projected to be immediately accretive to earnings, with Rocky Gap reporting a net operating revenue of $78 million and an Adjusted EBITDA of $27 million in 2021.

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PENN Entertainment reported a 5.2% year-over-year revenue increase to $1.6 billion for Q2 2022, with adjusted EBITDAR at $504.5 million, down 14.0% from the prior year. Net income fell to $26.1 million, marking a sharp decline from $198.7 million in Q2 2021. Despite economic challenges, the company remains positive, maintaining full-year revenue guidance of $6.15 billion to $6.55 billion. PENN repurchased $167 million in stock, reinforcing commitment to shareholder value. The mychoice database saw significant growth, adding 1.2 million registrations, indicating strong customer engagement.

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VICI Properties completed its acquisition of MGM Growth Properties LLC and reported Q2 2022 revenues of $662.6 million, up 76% year-over-year. However, the company posted a net loss of $57.7 million, largely due to a significant increase in the CECL allowance related to the MGM Master Lease. Adjusted Funds from Operations (AFFO) increased by 67.9% year-over-year to $430.1 million, with AFFO per share rising 3.7% to $0.48. The company reaffirmed its 2022 full-year guidance for AFFO between $1.66 billion and $1.69 billion.

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VICI Properties Inc. (NYSE: VICI) has announced a mezzanine loan investment of up to $59 million for Great Wolf Resorts, Inc. This financing supports the development of Great Wolf Lodge South Florida, a $250 million family resort in Collier County, FL. The 500-room indoor water park is set to open in summer 2024, following a groundbreaking event. This marks VICI's second mezzanine loan investment related to Great Wolf, part of a strategic commitment to provide up to $300 million in financing for Great Wolf’s resort projects.

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VICI Properties Inc. (NYSE: VICI) is featured in a case study by Stanford University's Corporate Governance Research Initiative. The study explores how VICI, emerging from the bankruptcy of Caesars Entertainment, created a governance framework that enhances value for its shareholders. VICI's focus on governance quality is highlighted by its ranking fourth in Green Street’s REIT governance quality assessments. The firm achieved investment-grade credit status and became the first REIT to enter the S&P 500 in under five years post-IPO, showcasing its commitment to high governance standards and stakeholder trust.

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VICI Properties Inc. (NYSE: VICI) announced its second quarter 2022 financial results will be released on Wednesday, July 27, 2022, after trading closes on the New York Stock Exchange. A conference call and audio webcast is scheduled for Thursday, July 28, 2022, at 10:00 a.m. ET. Investors can participate via phone or listen to a live audio webcast on the company's website. The replay will be available for one week following the event. VICI Properties operates a diverse portfolio of gaming and hospitality venues across the U.S.

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VICI Properties Inc. (NYSE: VICI) announced that CEO Edward Pitoniak featured on CNBC's 'Mad Money with Jim Cramer' on June 24, 2022, discussing VICI’s role as a capital source for tenants and its growth plans in gaming and experiential real estate. The company holds a large portfolio, including iconic properties like Caesars Palace and MGM Grand, with 43 gaming facilities, 58,700 hotel rooms, and over 450 food and entertainment venues. VICI aims to enhance its experiential real estate portfolio while navigating forward-looking risks, including economic uncertainties and impacts from the COVID-19 pandemic.

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FAQ

What is the current stock price of VICI Properties (VICI)?

The current stock price of VICI Properties (VICI) is $28.98 as of December 23, 2024.

What is the market cap of VICI Properties (VICI)?

The market cap of VICI Properties (VICI) is approximately 30.6B.

What is VICI Properties Inc.?

VICI Properties Inc. is a real estate investment trust based in the U.S., specializing in gaming, hospitality, and entertainment destinations.

What are the main business segments of VICI Properties?

VICI Properties operates in two main segments: Real Property Business and Golf Course Business.

What types of properties does VICI Properties manage?

VICI Properties manages gaming, hospitality, and entertainment destinations, as well as several golf courses.

What is the mission of VICI Properties Inc.?

The mission of VICI Properties Inc. is to protect real estate investments by maximizing cash flow, minimizing tenant vacancy periods, and maintaining high property standards.

Can investors purchase properties through VICI Properties?

Yes, VICI Properties offers solutions for investors looking to purchase real estate investment properties.

What notable golf courses are managed by VICI Properties?

Notable golf courses include Cascata Golf Course, Rio Secco Golf Course, Grand Bear Golf Course, and Chariot Run Golf Course.

What is a triple net lease?

A triple net lease is a lease agreement where the tenant is responsible for paying property taxes, insurance, and maintenance in addition to rent.

Is VICI Properties Inc. financially stable?

Yes, VICI Properties Inc. has demonstrated robust financial health through strategic acquisitions and solid revenue streams.

How does VICI Properties ensure property maintenance?

VICI Properties ensures property maintenance by delivering predictable property management services at consistently high standards.

Where can I find the latest news about VICI Properties?

The latest news and updates about VICI Properties can be found on financial news websites and the company's official communications.

VICI Properties Inc.

NYSE:VICI

VICI Rankings

VICI Stock Data

30.60B
1.05B
0.25%
99.93%
2.13%
REIT - Diversified
Real Estate Investment Trusts
Link
United States of America
NEW YORK