Vici Pptys Stock Price, News & Analysis

VICI Properties Inc. (NYSE: VICI) announced an underwritten public offering of 100 million shares of common stock at $29.50 per share, with the offering expected to close on September 14, 2021. The company will sell 50 million shares directly, while the remaining 50 million are linked to forward sale agreements. The proceeds will be used to reduce debt and fund the acquisition of assets associated with The Venetian Resort in Las Vegas. The underwriters include major financial institutions like Morgan Stanley and Goldman Sachs.

VICI Properties Inc. (NYSE: VICI) has announced a public offering of 100,000,000 shares of its common stock. The company intends to sell 50,000,000 shares directly to underwriters, while another 50,000,000 shares will be sold related to forward sale agreements. The underwriters may also purchase an additional 15,000,000 shares. Proceeds will be used to pay down debt and fund the acquisition of The Venetian. The offering is conducted under an effective shelf registration statement.

VICI Properties Inc. has entered a triple-net lease agreement with EBCI Holdings in relation to the acquisition of Caesars Southern Indiana. The lease stipulates an initial total annual rent of $32.5 million for a term of 15 years, with annual rent escalations starting at 1.5%. This agreement reduces annual base rent payments under VICI's master lease with Caesars by $32.5 million. Additionally, VICI has a right of first refusal on real property related to a new casino resort in Danville, Virginia.

VICI Properties will acquire MGM Growth Properties (MGP) for $17.2 billion, including $5.7 billion in debt, reinforcing VICI's position as the largest experiential net lease REIT. MGP Class A shareholders will receive 1.366 shares of VICI stock per share of MGP, translating to $43.00 per share, a 15.9% premium. The merger enhances VICI's portfolio with 15 Class A properties, increasing portfolio quality and tenant diversity while retaining significant annual cash flow. The transaction is set to close in H1 2022, pending regulatory approvals.

MGM Resorts International has struck a definitive deal with VICI Properties and MGM Growth Properties to redeem MGP operating partnership units at $43 each, totaling approximately $4.4 billion. This simplifies MGM's structure and provides over $11.6 billion in liquidity, enhancing shareholder value. The agreement values MGP at $17.2 billion, including $5.7 billion in assumed debt. The lease terms include an initial 25-year term with $860 million annual rent. MGM will retain a 1% stake in VICI, valued at $370 million. The transaction is anticipated to close in H1 2022.

VICI Properties reported impressive second quarter 2021 results, with total revenues increasing 45.9% year-over-year to $376.4 million. Net income attributable to common stockholders reached $300.7 million, or $0.54 per share. The company declared a quarterly cash dividend of $0.33 per share and AFFO increased by 45.3% to $256.1 million. Additionally, VICI entered a strategic partnership with Great Wolf Resorts for up to $300 million in financing, enhancing growth prospects. The company aims for AFFO between $1,010 million and $1,035 million for the year.

VICI Properties has entered a strategic partnership with Great Wolf Resorts to finance the construction of Great Wolf Lodge resorts across the U.S. The company will provide a $79.5 million mezzanine loan for the $250 million Great Wolf Lodge Mid-Atlantic project in Maryland, with an 8% interest rate and a 3-year term. Additionally, VICI may offer up to $300 million for further development projects over the next five years. This collaboration aims to diversify VICI's investments and leverage the growing indoor water park sector, reflecting a strong commitment to experiential real estate.

VICI Properties Inc. (NYSE: VICI) is set to release its second quarter financial results on July 28, 2021, after market close. A conference call and audio webcast will follow on July 29, 2021, at 10:00 a.m. ET. Investors can access the call by dialing specific numbers or through the Company’s website. VICI Properties operates a substantial portfolio within the experiential real estate sector, featuring 28 gaming facilities and investments in prominent gaming and hospitality brands, including Caesars Palace and Hard Rock International. The Company aims for sustained income and value growth.

VICI Properties Inc. (NYSE: VICI) has announced a quarterly cash dividend of $0.33 per share for the period of April 1 to June 30, 2021. This dividend will be payable on July 8, 2021, to stockholders who are on record as of the close of business on June 24, 2021. VICI Properties operates a significant portfolio in gaming and hospitality, including 28 facilities and over 47 million square feet. The company aims to develop a high-quality experiential real estate portfolio, leasing its properties to top industry operators.