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.
Caesars Entertainment (CZR) has entered a definitive agreement to sell the operations of Caesars Southern Indiana for $250 million to the Eastern Band of Cherokee Indians (EBCI). This transaction will result in a $32.5 million annual reduction in payments to VICI Properties (VICI) post-closing. Additionally, Caesars and EBCI will extend their partnership, allowing the continued use of the Caesars brand and Rewards loyalty program at the property. The deal is expected to close in Q3 2021, pending regulatory approvals.
VICI Properties announced that CEO Edward Pitoniak was a featured guest on Fox Business Network's "The Claman Countdown" on December 15, 2020. As an experiential real estate investment trust, VICI owns a significant portfolio of gaming, hospitality, and entertainment properties, including Caesars Palace. Its portfolio spans 28 gaming facilities with 47 million square feet, offering approximately 18,000 hotel rooms and over 200 dining and nightlife options. VICI aims to build the highest quality experiential real estate portfolio in the U.S.
VICI Properties has declared a quarterly cash dividend of $0.33 per share of common stock for the period from October 1, 2020, to December 31, 2020. This dividend will be payable on January 7, 2021, to stockholders of record as of the close of business on December 23, 2020.
VICI Properties owns a diverse portfolio of 28 gaming facilities, totaling 47 million square feet and approximately 18,000 hotel rooms. It leases properties to leading gaming and hospitality operators, including Caesars and Hard Rock International.
VICI Properties has announced a donation of nearly 58 acres of land from the former Bluegrass Downs Race Track in Paducah, KY, to McCracken County. This land will be developed into a youth recreational sports complex, benefiting approximately 1,200 children. The track ceased operations in October 2019. This gift aims to improve local recreational facilities and does not affect VICI's existing lease agreements. The company continues to manage a diverse portfolio of gaming and hospitality properties, including Caesars Palace.
Caesars Entertainment and VICI Properties announced the completion of the sale of Bally's Atlantic City to Bally's Corporation for $25 million. The proceeds from the transaction are allocated 75% to VICI and 25% to Caesars. This transaction does not affect the annual base rent payments under the existing Regional Master Lease between the two companies, which remain unchanged. The deal reflects VICI's strategy to maintain a diversified real estate portfolio in the gaming sector.
VICI Properties reported robust financial results for Q3 2020, with total revenues soaring 52.6% year-over-year to $339.7 million. Net income attributable to common stockholders reached $398.3 million, or $0.74 per share. Funds from Operations (FFO) mirrored net income at $398.3 million, a significant increase from the previous year. Additionally, the company announced a quarterly cash dividend of $0.33 per share, marking a 10.9% increase. VICI also successfully completed $3.7 billion in acquisitions, including an $80 million loan to Chelsea Piers New York, demonstrating its strategic diversification.
VICI Properties announced the upcoming release of its Q3 2020 financial results, scheduled for October 28, 2020, after the market close. A conference call will follow on October 29, 2020, at 10:00 a.m. ET, accessible via registration. VICI Properties, a real estate investment trust, boasts a diverse portfolio of 30 gaming facilities and various hospitality venues, including the iconic Caesars Palace. Its properties support operators like Caesars and Hard Rock International, focusing on creating a high-quality experiential real estate portfolio.
VICI Properties has been recognized for its exceptional corporate governance, ranking second among America’s 669 largest corporations in an independent study by James Drury Partners. The Company’s Board of Directors also led the Financials Industry Sector, highlighting their governance capacity. The report assesses the combined business acumen and experience of board members to determine their capacity to govern effectively. James Abrahamson, Chair of the Board, expressed pride in this acknowledgment, emphasizing that the Board's diversity and experience contribute to long-term shareholder value.
Caesars Entertainment (NASDAQ: CZR) and VICI Properties (NYSE: VICI) have finalized the sale of Harrah's Reno Hotel and Casino for $41.5 million. The financial proceeds from the transaction are allocated 75% to VICI and 25% to Caesars. This sale will not affect the annual rent payments under the existing Regional Master Lease between the two companies. This move aligns with Caesars' strategy to optimize its portfolio while providing VICI with an opportunity to enhance its gaming and entertainment property holdings.
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