Vici Pptys Stock Price, News & Analysis

VICI Properties Inc. (NYSE: VICI) announced its plan to use its Partner Property Growth Fund to finance a new expansion for Century Casinos, Inc. (NASDAQ: CNTY). This includes a land-based casino and a 38-room hotel at Century Casino Caruthersville, Missouri, with a total project cost of about $51.9 million. Upon project completion, annual rent under the existing master lease will increase by $4.2 million. The new casino will replace the last riverboat casino in Missouri, expanding gaming options with 650 slot machines.

VICI Properties Inc. (NYSE: VICI) recently announced its CEO, Edward Pitoniak, appeared on CNBC’s 'Power Lunch' discussing the acquisition of the remaining 49.9% interest in MGM Grand Las Vegas and Mandalay Bay joint ventures. This acquisition expands VICI's already substantial portfolio, which includes 43 gaming facilities across 122 million square feet, featuring approximately 58,700 hotel rooms and over 450 dining and entertainment options. VICI aims to bolster its leadership in the experiential real estate market.

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.

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.

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.

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.

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.

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.

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.