Vici Pptys Stock Price, News & Analysis

VICI Properties completed its acquisition of MGM Growth Properties LLC and reported Q2 2022 revenues of $662.6 million, up 76% year-over-year. However, the company posted a net loss of $57.7 million, largely due to a significant increase in the CECL allowance related to the MGM Master Lease. Adjusted Funds from Operations (AFFO) increased by 67.9% year-over-year to $430.1 million, with AFFO per share rising 3.7% to $0.48. The company reaffirmed its 2022 full-year guidance for AFFO between $1.66 billion and $1.69 billion.

VICI Properties Inc. (NYSE: VICI) has announced a mezzanine loan investment of up to $59 million for Great Wolf Resorts, Inc. This financing supports the development of Great Wolf Lodge South Florida, a $250 million family resort in Collier County, FL. The 500-room indoor water park is set to open in summer 2024, following a groundbreaking event. This marks VICI's second mezzanine loan investment related to Great Wolf, part of a strategic commitment to provide up to $300 million in financing for Great Wolf’s resort projects.

VICI Properties Inc. (NYSE: VICI) is featured in a case study by Stanford University's Corporate Governance Research Initiative. The study explores how VICI, emerging from the bankruptcy of Caesars Entertainment, created a governance framework that enhances value for its shareholders. VICI's focus on governance quality is highlighted by its ranking fourth in Green Street’s REIT governance quality assessments. The firm achieved investment-grade credit status and became the first REIT to enter the S&P 500 in under five years post-IPO, showcasing its commitment to high governance standards and stakeholder trust.

VICI Properties Inc. (NYSE: VICI) announced its second quarter 2022 financial results will be released on Wednesday, July 27, 2022, after trading closes on the New York Stock Exchange. A conference call and audio webcast is scheduled for Thursday, July 28, 2022, at 10:00 a.m. ET. Investors can participate via phone or listen to a live audio webcast on the company's website. The replay will be available for one week following the event. VICI Properties operates a diverse portfolio of gaming and hospitality venues across the U.S.

VICI Properties Inc. (NYSE: VICI) announced that CEO Edward Pitoniak featured on CNBC's 'Mad Money with Jim Cramer' on June 24, 2022, discussing VICI’s role as a capital source for tenants and its growth plans in gaming and experiential real estate. The company holds a large portfolio, including iconic properties like Caesars Palace and MGM Grand, with 43 gaming facilities, 58,700 hotel rooms, and over 450 food and entertainment venues. VICI aims to enhance its experiential real estate portfolio while navigating forward-looking risks, including economic uncertainties and impacts from the COVID-19 pandemic.

VICI Properties Inc. announced a new lease agreement with Cherokee Nation Entertainment Gaming Holdings, related to the operation of Gold Strike Casino Resort in Tunica, MS. This follows MGM Resorts International's decision to divest the casino operations. The new lease has an initial annual base rent of $40 million and a 25-year term with tenant renewal options. VICI will also amend its Master Lease with MGM to reflect a $40 million reduction in annual rent. The transaction is expected to finalize in H1 2023, subject to regulatory approvals.

MGM Resorts International has announced the sale of Gold Strike Tunica to Cherokee Nation Entertainment for $450 million. This transaction reflects approximately an 11 times multiple on average Adjusted Property EBITDA from 2019-2021. Gold Strike reported a net income of $81.1 million for the twelve months ending December 31, 2021, with Adjusted Property EBITDAR of $115 million. The deal is expected to close in the first half of 2023, with MGM anticipating net cash proceeds of around $350 million post-taxes and fees. Annual rent with VICI Properties will be reduced by $40 million.

VICI Properties Inc. (NYSE: VICI) announced that CEO Edward Pitoniak discussed the company's addition to the S&P 500 on CNBC's "Power Lunch" on June 7, 2022. He emphasized VICI's growth as a leading experiential REIT and its status as the largest real estate owner on the Las Vegas Strip. Additionally, Pitoniak highlighted a new partnership with Cabot, aimed at enhancing VICI's portfolio of gaming, hospitality, and entertainment facilities. VICI owns 43 gaming facilities with over 122 million square feet and numerous amenities.

VICI Properties Inc. (NYSE: VICI) has declared a quarterly cash dividend of $0.36 per share for the period from April 1, 2022 to June 30, 2022. The dividend will be paid on July 7, 2022 to stockholders of record as of June 23, 2022. VICI Properties owns a diverse portfolio of 43 gaming facilities, including renowned venues like Caesars Palace and MGM Grand, with a total of over 122 million square feet and approximately 58,700 hotel rooms. The company focuses on creating a high-quality experiential real estate portfolio.