Vici Pptys Stock Price, News & Analysis

VICI Properties Inc. (NYSE: VICI) has declared a quarterly cash dividend of $0.36 per share for the period from January 1, 2022 to March 31, 2022. This dividend will be payable on April 7, 2022 to stockholders of record as of the close of business on March 24, 2022. The Company is recognized for its extensive portfolio in gaming and hospitality, including iconic venues like Caesars Palace and the Venetian Resort.

VICI Properties announces the completion of its $4 billion acquisition of The Venetian Resort Las Vegas, part of a record acquisition volume of over $21 billion in 2021. Fourth Quarter revenues rose 2.7% year-over-year to $383.2 million, attributed to increased rental income. However, Net Income per share decreased by 17.0% to $0.44. Full Year 2021 revenues surged 23.2% to $1.5 billion, while AFFO increased by 25.3%. The company declared a 9.1% increase in its annual cash dividend and provided a preliminary AFFO guidance for 2022 between $1.80 and $1.84 per share.

VICI Properties Inc. has successfully acquired the Venetian Resort Las Vegas for $4.0 billion, achieving a 6.25% cap rate. The transaction is financed through proceeds from share sales, a $600 million credit line, and cash reserves. This acquisition increases annual rent by $250 million under a 30-year lease with Apollo Global Management, which includes a rent escalation clause. The Venetian features extensive gaming, hospitality, and convention facilities, solidifying VICI's portfolio as a premier player in experiential real estate.

VICI Properties Inc. (NYSE: VICI) announced an extension of the expiration date for the Exchange Offers and related Consent Solicitations from February 15, 2022 to March 31, 2022. These offers involve exchanging up to $4.20 billion of MGP Notes for new notes issued by VICI. The amendments to the MGP indentures will become effective upon settlement of the exchange. The transactions are contingent upon the completion of previously announced mergers expected in the first half of 2022.

VICI Properties Inc. (NYSE: VICI) announced the effectiveness of a new $3.5 billion unsecured credit facility, consisting of a $2.5 billion senior unsecured revolving credit facility and a $1.0 billion delayed draw term loan. The new facilities, which replace a $1.0 billion secured credit line, were oversubscribed and will enhance the company's financial flexibility. The revolving facility matures on March 31, 2026 and offers improved interest rates. The company's CFO emphasized this transition strengthens the balance sheet and supports a net debt to EBITDA leverage target of 5.0x to 5.5x.

Penn National Gaming reported strong Q4 2021 results, with revenues of $1.6 billion, up $545.1 million YoY. Net income reached $44.8 million, a significant increase from $12.7 million in the previous year. The company authorized a $750 million share repurchase program to enhance shareholder value. Looking ahead, Penn National set 2022 revenue guidance between $6.07 billion and $6.39 billion, alongside an Adjusted EBITDAR forecast of $1.85 billion to $1.95 billion. Strategic acquisitions and technology upgrades are expected to drive growth.

VICI Properties Inc. (NYSE: VICI) has announced the tax treatment for its 2021 common stock distributions. Shareholders are advised to consult tax advisors for specific guidance. A detailed table summarizes the distributions, including total distributions, and respective reportable amounts for 2021 and 2022.

The total distribution for 2021 is $1.7100 per share, with significant portions reported as ordinary dividends and a portion as non-dividend distributions. VICI operates a large diversified portfolio in gaming and hospitality, including properties leased to major operators.

VICI Properties Inc. (NYSE: VICI) will release its Q4 and full year 2021 financial results on February 23, 2022, after market close. A conference call will follow on February 24, 2022, at 10:00 a.m. ET. Access the call by calling 844-200-6205 (domestic) or 929-526-1599 (international) with conference ID 349671. An audio replay will be available from 1:00 p.m. ET on February 24 until midnight ET on March 3. VICI Properties, a leading real estate investment trust, owns a vast portfolio of gaming and hospitality destinations, including Caesars Palace.

VICI Properties Inc. has extended the expiration date of its private offers to exchange up to $4.20 billion in notes issued by MGM Growth Properties for new notes by VICI. The expiration date is now set for February 15, 2022. Following the early tender date of September 24, 2021, requisite consents were received, enabling amendments that eliminate most restrictive covenants of the MGM notes. The exchange and consent solicitations are tied to anticipated mergers expected to close in the first half of 2022, pending regulatory approvals and customary closing conditions.