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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 has signed an agreement to acquire BREIT's 49.9% interest in the joint venture owning MGM Grand Las Vegas and Mandalay Bay for approximately $1.27 billion. This acquisition also involves VICI assuming BREIT’s share of property-level debt of $3 billion, maturing in 2032. The properties are subject to a triple-net lease with MGM Resorts, yielding annual rents of $310 million. The deal is expected to be accretive to VICI's AFFO per share and is anticipated to close in early 2023.

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VICI Properties Inc. (NYSE: VICI) announced a public offering of 16,500,000 shares of common stock, which could generate approximately $509.9 million in gross proceeds before expenses. The offering is expected to close on November 8, 2022. An additional option for underwriters to purchase 2,475,000 shares may increase proceeds to $586.3 million. The funds will support property acquisitions, development, loans, and general corporate purposes. The offering is made under an effective shelf registration statement.

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VICI Properties Inc. (NYSE: VICI) has announced a public offering of 16,500,000 shares of common stock, with an option for underwriters to purchase an additional 2,475,000 shares. The offering will occur through forward sale agreements, with BofA Securities and Citigroup acting as underwriters. While VICI will not receive immediate proceeds from this offering, any future cash raised will aid in property acquisitions, developments, and corporate purposes. The offering is conducted under an effective shelf registration statement, with the transaction details available via specified underwriters.

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PENN Entertainment reported Q3 2022 results, achieving $1.6 billion in revenue, a 7.5% year-over-year increase. Net income rose to $123.2 million with a net income margin of 7.6%, up from 5.7% in the prior year. Adjusted EBITDA reached $440.4 million, a 20.9% increase, while Adjusted EBITDAR decreased by 1.7% to $471.9 million, with a margin of 29.0%. The company continues to pursue growth through new land-based facilities and a strong omnichannel strategy, reaffirming its full-year guidance for revenue between $6.15 billion and $6.55 billion.

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VICI Properties reported a strong third quarter for 2022, achieving total revenues of $751.5 million, a 100% increase year-over-year. Net income rose to $330.9 million or $0.34 per share. The company announced an 8.3% increase in its dividend to $0.39 per share and proceeded to acquire Rocky Gap Casino Resort for $203.9 million. VICI also expanded its partnership with Great Wolf Resorts through $186 million in loans. The updated AFFO guidance for 2022 is projected between $1,682 million and $1,692 million.

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VICI Properties Inc. (NYSE: VICI) announced its CEO, Edward Pitoniak, discussed a new partnership with Canyon Ranch on CNBC’s “Mad Money” on October 18, 2022. This collaboration marks VICI's entry into the wellness sector, focusing on the development of Canyon Ranch Austin. VICI is known for its extensive portfolio of gaming and hospitality properties, including renowned venues like Caesars Palace and MGM Grand. The company aims to enhance its experiential real estate portfolio through strategic investments.

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VICI Properties Inc. (NYSE: VICI) has announced a $200 million delayed draw term loan facility to fund the development of Canyon Ranch Austin, a new wellness resort in Austin, Texas. This investment positions VICI in the rapidly growing place-based wellness sector. The company holds a call right to acquire the real estate of Canyon Ranch Austin upon stabilization and options for properties in Tucson and Lenox should they become available. Canyon Ranch Austin is expected to welcome guests in 2025, adding to the existing wellness portfolio of Canyon Ranch.

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VICI Properties Inc. (NYSE: VICI) announced plans to release its third quarter 2022 financial results on October 27, 2022, post-market. Following this, the company will host a conference call on October 28, 2022, at 9:00 a.m. ET. Interested investors can access the call via telephone or through an audio webcast on the company's website. VICI Properties, an S&P 500 real estate investment trust, owns a significant portfolio of gaming and hospitality properties, including iconic venues like Caesars Palace and the MGM Grand.

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VICI Properties Inc. (NYSE: VICI) has entered a management agreement with CDN Golf Management Inc. to operate its four golf courses: Cascata, Rio Secco, Grand Bear, and Chariot Run. CDN will oversee all day-to-day operations, and VICI will retain ownership within its Taxable REIT Subsidiary. The agreement, effective October 1, 2022, spans 20 years with two renewal options. John Payne, COO of VICI, expressed confidence in CDN's management enhancing the courses and employee integration.

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VICI Properties Inc. (NYSE: VICI) announced a mezzanine loan of up to $127.0 million to Great Wolf Resorts, Inc. for the development of the Great Wolf Lodge Gulf Coast Texas, a family resort project costing over $200 million in Webster, TX. This is VICI's third mezzanine loan investment with Great Wolf, totaling $265.5 million as part of a strategic commitment of up to $300 million to support Great Wolf's resort pipeline. The lodge is expected to open in mid-to-late 2024.

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FAQ

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

The current stock price of VICI Properties (VICI) is $29.24 as of December 24, 2024.

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

The market cap of VICI Properties (VICI) is approximately 30.8B.

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

30.82B
1.05B
0.25%
99.93%
2.13%
REIT - Diversified
Real Estate Investment Trusts
Link
United States of America
NEW YORK