Vici Pptys - VICI STOCK NEWS

VICI Properties (NYSE: VICI) has successfully completed a $1.3 billion senior unsecured notes offering through its subsidiary VICI Properties L.P. The offering consists of:

• $400 million of 4.750% notes due 2028 (issued at 99.729% of par value)
• $900 million of 5.625% notes due 2035 (issued at 99.219% of par value)

The proceeds will be used to repay existing debt obligations, including:

• $500.0 million of 4.375% senior notes due 2025
• $799.4 million of 4.625% senior exchange notes due 2025
• $0.6 million of 4.625% senior notes due 2025

VICI Properties (NYSE: VICI) has scheduled the release of its first quarter 2025 financial results for Wednesday, April 30, 2025, after the New York Stock Exchange trading hours. The company will follow up with a conference call and audio webcast on Thursday, May 1, 2025, at 10:00 a.m. ET.

Investors can access the conference call by dialing +1 833-470-1428 (domestic) or +1 929-526-1599 (international) with conference ID 183495. An audio replay will be available from 1:00 p.m. ET on May 1 until May 8, 2025. Additionally, a live webcast will be accessible through the company's website investor section, with a replay available for one year.

VICI Properties (NYSE: VICI) has announced the pricing of a $1.3 billion public offering of senior unsecured notes through its subsidiary VICI Properties L.P. The offering consists of:

• $400 million of 4.750% notes due 2028 (issued at 99.729% of par value)
• $900 million of 5.625% notes due 2035 (issued at 99.219% of par value)

Interest payments will be made semi-annually on April 1 and October 1, starting October 1, 2025. The offering is expected to close on April 7, 2025. The proceeds will be used to repay existing notes due 2025 (including $500 million at 4.375% and $800 million at 4.625%) and for general corporate purposes such as property acquisitions, improvements, and working capital.

VICI Properties (NYSE: VICI) has announced its quarterly dividend declaration for Q1 2025. The company's Board of Directors has approved a regular quarterly cash dividend of $0.4325 per share of common stock, covering the period from January 1, 2025, to March 31, 2025.

The dividend will be distributed on April 3, 2025, to stockholders who are registered as of the market close on March 20, 2025.

PENN Entertainment reported its Q4 2024 financial results, highlighting solid property-level performance with revenues of $1.4 billion and Adjusted EBITDAR of $461.2 million. Properties unaffected by new supply generated nearly 3% year-over-year revenue growth.

The Interactive segment showed significant improvements, with revenues of $275.0 million, despite customer-friendly sports betting outcomes. The company's iCasino business achieved record quarterly gaming revenue, showing over 60% growth year-over-year, boosted by the successful launches of the standalone Hollywood Casino app in Pennsylvania and Michigan.

PENN announced plans to repurchase at least $350 million of shares in 2025. The company maintained strong liquidity of $1.7 billion, including $706.6 million in cash and cash equivalents, with traditional net debt at $1.9 billion as of December 31, 2024.

VICI Properties reported strong financial results for Q4 and full year 2024. Total revenues increased 4.7% year-over-year to $976.1M in Q4, and 6.6% to $3.8B for the full year. The company announced over $1B in capital commitments in 2024 at a weighted average initial yield of 8.1%.

Q4 net income decreased 17.8% to $614.6M ($0.58 per share) due to CECL allowance changes. However, AFFO increased 5.4% to $601.3M ($0.57 per share). For full year 2024, net income grew 6.6% to $2.7B ($2.56 per share), while AFFO rose 8.4% to $2.4B ($2.26 per share).

Key highlights include a credit rating upgrade by Moody's to 'Baa3', a new $2.5B multicurrency credit facility, and a strategic relationship with Cain International and Eldridge Industries involving a $300M investment in One Beverly Hills. The company increased its dividend by 4.2% and established guidance for 2025.

VICI Properties has announced a strategic partnership with Cain International and Eldridge Industries focused on investing in high-growth, experience-driven real estate. The collaboration launches with VICI's $300 million investment into a mezzanine loan for One Beverly Hills, a 17.5-acre luxury mixed-use development.

The development will feature Aman Beverly Hills, the brand's first West Coast hotel, along with Aman-branded residences and an Aman Club. The project includes a renovation of The Beverly Hilton and will incorporate 10 acres of botanical gardens, luxury retail, and dining experiences. Construction has begun with completion expected in late 2027.

The development will include 5.5 acres of private botanical gardens for Aman residents and guests, plus 4.5 acres of public space. VICI funded the investment through cash on hand and its existing revolving credit facility.

VICI Properties (NYSE: VICI) has announced a new $2.5 billion multicurrency unsecured revolving credit facility, replacing its existing facility of the same size. The new facility, which received strong support from 15 financial institutions, matures on February 3, 2029, and includes extension options. Based on current credit ratings and leverage ratios, it bears interest at 85.0 basis points over the SOFR rate for USD borrowings, with a facility fee of 20.0 basis points.

The company maintains an option to increase the facility by up to $1.0 billion with lender agreement. Wells Fargo Securities and JPMorgan Chase Bank served as Joint Bookrunners, with Wells Fargo Bank as Administrative Agent. The facility was substantially oversubscribed, demonstrating strong banking sector confidence in VICI's business model.

VICI Properties (NYSE: VICI) has released its tax treatment details for 2024 distributions on common stock. The company paid quarterly dividends totaling $2.1100 per share throughout 2024, with payments of $0.4150 per share in the first three quarters and $0.4325 per share in the fourth quarter.

Of the total distributions, $1.5045 is classified as ordinary dividends, with $0.1730 categorized as non-dividend distributions (return of capital). The January 9, 2025 distribution of $0.4325 will be treated as a 2025 distribution for federal tax purposes. Notably, $1.5013 qualifies as Section 199A dividends, subject to the 45-day holding period requirement.