VICI Properties Inc. - VICI STOCK NEWS

VICI Properties reported a 10.6% revenue growth to $375.7 million for Q3 2021, with net income at $161.9 million or $0.28 per share. The company announced the $17.2 billion acquisition of MGM Growth Properties and a strategic arrangement to finance BigShots Golf. Adjusted Funds from Operations (AFFO) rose by 12.9% to $257.4 million, with AFFO per share at $0.45. VICI plans to fund the acquisition mainly through debt financing and has updated its full-year AFFO guidance to $1.04-$1.045 billion.

VICI Properties Inc. will release its third quarter 2021 financial results on October 27 after the market closes. A conference call is scheduled for October 28 at 10:00 a.m. ET. Investors can join via phone or through a live audio webcast available on the company's website. An audio replay will be accessible from 1:00 p.m. ET on October 28 until November 4. VICI Properties, a leading real estate investment trust, owns a diverse portfolio of gaming and hospitality properties, including Caesars Palace.

VICI Properties Inc. (NYSE: VICI) announced that its subsidiaries, VICI Properties L.P. and VICI Note Co. Inc., have secured consents from over a majority of holders for proposed amendments regarding all outstanding MGM Growth Properties Operating Partnership LP notes. The exchange offers involve exchanging MGP notes for up to $4.20 billion in new VICI notes. The expiration date for this offer has been extended to December 31, 2021, and is contingent on the completion of anticipated mergers expected to finalize in the first half of 2022.

VICI Properties (NYSE: VICI) has partnered with ClubCorp to expand BigShots Golf across the U.S. with a potential mortgage financing of up to $80 million for five new facilities. This strategic alliance aims to leverage ClubCorp's expertise in creating engaging experiences, aligning with VICI's focus on growing within experiential sectors. VICI will also have the option to acquire real estate assets associated with these facilities and has rights for future financing arrangements. This partnership represents a notable opportunity for long-term growth.

VICI Properties (NYSE: VICI) announced the complete repayment of approximately $2,102.5 million of its Term Loan B Facility, funded by proceeds from a share issuance of 65 million shares and a forward sale agreement. This decision eliminates all secured debt from VICI's balance sheet, aligning with its goal of achieving an investment-grade capital structure. The company maintains its undrawn five-year first lien revolving credit facility. CFO David Kieske emphasized the disciplined capital allocation underpinning this strategic move.

VICI Properties Inc. (NYSE: VICI) announced the completion of a public offering of 115 million shares of common stock at $29.50 per share, raising funds primarily for debt reduction and to support the acquisition of The Venetian Resort and The Venetian Expo in Las Vegas. Of the total shares, 65 million were sold directly to underwriters, and the remainder was connected to forward sale agreements. Proceeds from this offering are expected to enhance VICI's financial position and facilitate strategic growth opportunities.

VICI Properties Inc. announced private exchange offers for its new senior notes, replacing senior notes from MGM Growth Properties. The offerings include:

• 5.625% Senior Notes due May 2024
• 4.625% Senior Notes due June 2025
• 4.500% Senior Notes due September 2026
• 5.750% Senior Notes due February 2027
• 4.500% Senior Notes due January 2028
• 3.875% Senior Notes due February 2029

The exchanges are tied to previously announced mergers expected to close in the first half of 2022, pending approvals.

VICI Properties Inc. (NYSE: VICI) announced an underwritten public offering of 100 million shares of common stock at $29.50 per share, with the offering expected to close on September 14, 2021. The company will sell 50 million shares directly, while the remaining 50 million are linked to forward sale agreements. The proceeds will be used to reduce debt and fund the acquisition of assets associated with The Venetian Resort in Las Vegas. The underwriters include major financial institutions like Morgan Stanley and Goldman Sachs.

VICI Properties Inc. (NYSE: VICI) has announced a public offering of 100,000,000 shares of its common stock. The company intends to sell 50,000,000 shares directly to underwriters, while another 50,000,000 shares will be sold related to forward sale agreements. The underwriters may also purchase an additional 15,000,000 shares. Proceeds will be used to pay down debt and fund the acquisition of The Venetian. The offering is conducted under an effective shelf registration statement.