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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. announced a new lease agreement with Cherokee Nation Entertainment Gaming Holdings, related to the operation of Gold Strike Casino Resort in Tunica, MS. This follows MGM Resorts International's decision to divest the casino operations. The new lease has an initial annual base rent of $40 million and a 25-year term with tenant renewal options. VICI will also amend its Master Lease with MGM to reflect a $40 million reduction in annual rent. The transaction is expected to finalize in H1 2023, subject to regulatory approvals.

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MGM Resorts International has announced the sale of Gold Strike Tunica to Cherokee Nation Entertainment for $450 million. This transaction reflects approximately an 11 times multiple on average Adjusted Property EBITDA from 2019-2021. Gold Strike reported a net income of $81.1 million for the twelve months ending December 31, 2021, with Adjusted Property EBITDAR of $115 million. The deal is expected to close in the first half of 2023, with MGM anticipating net cash proceeds of around $350 million post-taxes and fees. Annual rent with VICI Properties will be reduced by $40 million.

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VICI Properties Inc. (NYSE: VICI) announced that CEO Edward Pitoniak discussed the company's addition to the S&P 500 on CNBC's "Power Lunch" on June 7, 2022. He emphasized VICI's growth as a leading experiential REIT and its status as the largest real estate owner on the Las Vegas Strip. Additionally, Pitoniak highlighted a new partnership with Cabot, aimed at enhancing VICI's portfolio of gaming, hospitality, and entertainment facilities. VICI owns 43 gaming facilities with over 122 million square feet and numerous amenities.

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VICI Properties Inc. (NYSE: VICI) has declared a quarterly cash dividend of $0.36 per share for the period from April 1, 2022 to June 30, 2022. The dividend will be paid on July 7, 2022 to stockholders of record as of June 23, 2022. VICI Properties owns a diverse portfolio of 43 gaming facilities, including renowned venues like Caesars Palace and MGM Grand, with a total of over 122 million square feet and approximately 58,700 hotel rooms. The company focuses on creating a high-quality experiential real estate portfolio.

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VICI Properties Inc. (NYSE: VICI) announced a $120 million delayed draw term loan facility and entered a Purchase and Sale Agreement with Cabot for the Cabot Citrus Farms in Brooksville, Florida. The loan will fund the property’s transformation, including a new clubhouse and luxury accommodations. VICI will convert part of the loan into ownership of specific real estate assets and initiate a 25-year triple-net lease with Cabot. This marks VICI's entry into the 'pilgrimage experience sector' and the start of a partnership focused on creating exceptional golf destinations.

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VICI Properties Inc. has appointed Kellan Florio as Senior Vice President and Chief Investment Officer and Moira McCloskey as Vice President of Capital Markets. Florio, previously at Goldman Sachs, will lead VICI's expansion in experiential real estate, leveraging his experience in managing over $100 billion in transactions. McCloskey, formerly with Bank of America, will guide VICI's capital markets initiatives, building on a track record of raising over $29 billion since 2017. These appointments aim to drive future growth for the company.

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Penn National Gaming reported Q1 2022 revenues of $1.56 billion, up 22.7% year-over-year. Net income fell to $51.6 million, with a net income margin of 3.3%

Adjusted EBITDAR was $494.7 million, reflecting a 10.7% increase but a margin decline of 344 bps. The company raised its 2022 revenue guidance to $6.15-$6.55 billion. Share repurchases totaled $175.1 million. Total liquidity stands at $2.48 billion, with net debt increasing to $923.5 million.

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VICI Properties reported an 11.3% revenue growth, reaching $416.6 million for Q1 2022. Significant developments include the completion of the $17.2 billion acquisition of MGM Growth Properties and a $4.0 billion acquisition of The Venetian Resort. Net income for the quarter was $240.4 million, reflecting a per-share decline to $0.35. Adjusted Funds From Operations (AFFO) increased by 19.8% year-over-year to $305.5 million, but per-share AFFO fell 5.1% to $0.44. The company updated its full-year 2022 AFFO guidance to between $1.66 billion and $1.69 billion.

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VICI Properties Inc. (NYSE: VICI) announced the completion of a public offering of $5.0 billion in senior unsecured notes, concurrent with its acquisition of MGM Growth Properties LLC. The offering includes various maturities and interest rates, such as 4.375% due 2025 and 5.625% due 2052. The proceeds will fund approximately $4.4 billion for redeeming OP units from MGM Resorts and repay $600 million of outstanding credit. This follows VICI's strategy to enhance its extensive gaming and hospitality portfolio, which now totals 43 properties across the U.S.

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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.

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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