VICI Properties Inc. - VICI STOCK NEWS

MGM Resorts International has struck a definitive deal with VICI Properties and MGM Growth Properties to redeem MGP operating partnership units at $43 each, totaling approximately $4.4 billion. This simplifies MGM's structure and provides over $11.6 billion in liquidity, enhancing shareholder value. The agreement values MGP at $17.2 billion, including $5.7 billion in assumed debt. The lease terms include an initial 25-year term with $860 million annual rent. MGM will retain a 1% stake in VICI, valued at $370 million. The transaction is anticipated to close in H1 2022.

VICI Properties will acquire MGM Growth Properties (MGP) for $17.2 billion, including $5.7 billion in debt, reinforcing VICI's position as the largest experiential net lease REIT. MGP Class A shareholders will receive 1.366 shares of VICI stock per share of MGP, translating to $43.00 per share, a 15.9% premium. The merger enhances VICI's portfolio with 15 Class A properties, increasing portfolio quality and tenant diversity while retaining significant annual cash flow. The transaction is set to close in H1 2022, pending regulatory approvals.

VICI Properties reported impressive second quarter 2021 results, with total revenues increasing 45.9% year-over-year to $376.4 million. Net income attributable to common stockholders reached $300.7 million, or $0.54 per share. The company declared a quarterly cash dividend of $0.33 per share and AFFO increased by 45.3% to $256.1 million. Additionally, VICI entered a strategic partnership with Great Wolf Resorts for up to $300 million in financing, enhancing growth prospects. The company aims for AFFO between $1,010 million and $1,035 million for the year.

VICI Properties has entered a strategic partnership with Great Wolf Resorts to finance the construction of Great Wolf Lodge resorts across the U.S. The company will provide a $79.5 million mezzanine loan for the $250 million Great Wolf Lodge Mid-Atlantic project in Maryland, with an 8% interest rate and a 3-year term. Additionally, VICI may offer up to $300 million for further development projects over the next five years. This collaboration aims to diversify VICI's investments and leverage the growing indoor water park sector, reflecting a strong commitment to experiential real estate.

VICI Properties Inc. (NYSE: VICI) is set to release its second quarter financial results on July 28, 2021, after market close. A conference call and audio webcast will follow on July 29, 2021, at 10:00 a.m. ET. Investors can access the call by dialing specific numbers or through the Company’s website. VICI Properties operates a substantial portfolio within the experiential real estate sector, featuring 28 gaming facilities and investments in prominent gaming and hospitality brands, including Caesars Palace and Hard Rock International. The Company aims for sustained income and value growth.

VICI Properties Inc. (NYSE: VICI) has announced a quarterly cash dividend of $0.33 per share for the period of April 1 to June 30, 2021. This dividend will be payable on July 8, 2021, to stockholders who are on record as of the close of business on June 24, 2021. VICI Properties operates a significant portfolio in gaming and hospitality, including 28 facilities and over 47 million square feet. The company aims to develop a high-quality experiential real estate portfolio, leasing its properties to top industry operators.

VICI Properties reported a strong Q1 2021, with total revenues of $374.3 million, up 46.8% year-over-year. Net income reached $269.8 million or $0.50 per share. Adjusted Funds from Operations (AFFO) increased by 41.7% to $255.0 million, translating to $0.47 per share. The company announced a significant $4.0 billion acquisition of the Venetian Resort Las Vegas, expected to generate $250 million in annual rent. A quarterly dividend of $0.33 was declared, with an equity offering generating $2.0 billion to support the acquisition.

VICI Properties (NYSE: VICI) will announce its first quarter 2021 financial results on April 29, 2021, post-market close. The Company will hold a conference call on April 30, 2021, at 10:00 a.m. ET, accessible via phone or live audio webcast on its website. VICI Properties is a real estate investment trust managing a portfolio of premier gaming, hospitality, and entertainment destinations, including Caesars Palace, with 28 gaming facilities across 47 million square feet, featuring 18,000 hotel rooms and over 200 dining options.

VICI Properties Inc. (NYSE: VICI) announced CEO Edward Pitoniak's appearance on Fox Business Network's 'The Claman Countdown' on March 16, 2021. He discussed the acquisition of the Venetian Resort Las Vegas and the Sands Expo and Convention Center. VICI Properties is a leading experiential real estate investment trust with a diverse portfolio of 28 gaming facilities, over 47 million square feet, and 17,800 hotel rooms. Their strategy focuses on building high-quality experiential real estate, and the company holds significant assets in the gaming and hospitality sectors.