Vici Pptys Stock Price, News & Analysis

VICI Properties announced it will release its fourth quarter and full year 2020 financial results on February 18, 2021 after the market closes. A conference call is scheduled for February 19, 2021 at 10:00 a.m. ET. Investors can access the call by registering online, where they will receive dial-in information. VICI Properties owns a diverse portfolio of 28 gaming facilities with 47 million square feet, including renowned properties like Caesars Palace. Its strategy focuses on creating a high-quality experiential real estate portfolio.

VICI Properties announced a triple-net lease agreement with the Eastern Band of Cherokee Indians (EBCI) for Caesars Southern Indiana. Initial annual rent is set at $32.5 million with a coverage ratio exceeding 2.2x. The agreement also includes a right of first refusal for a new casino resort in Danville, Virginia. The lease term is 15 years, with renewal options. This move enhances tenant diversification for VICI, which now has the most tenants of any gaming REIT. The transaction is expected to close in Q3 2021, pending regulatory approvals.

Caesars Entertainment (CZR) has entered a definitive agreement to sell the operations of Caesars Southern Indiana for $250 million to the Eastern Band of Cherokee Indians (EBCI). This transaction will result in a $32.5 million annual reduction in payments to VICI Properties (VICI) post-closing. Additionally, Caesars and EBCI will extend their partnership, allowing the continued use of the Caesars brand and Rewards loyalty program at the property. The deal is expected to close in Q3 2021, pending regulatory approvals.

VICI Properties announced that CEO Edward Pitoniak was a featured guest on Fox Business Network's "The Claman Countdown" on December 15, 2020. As an experiential real estate investment trust, VICI owns a significant portfolio of gaming, hospitality, and entertainment properties, including Caesars Palace. Its portfolio spans 28 gaming facilities with 47 million square feet, offering approximately 18,000 hotel rooms and over 200 dining and nightlife options. VICI aims to build the highest quality experiential real estate portfolio in the U.S.

VICI Properties has declared a quarterly cash dividend of $0.33 per share of common stock for the period from October 1, 2020, to December 31, 2020. This dividend will be payable on January 7, 2021, to stockholders of record as of the close of business on December 23, 2020.

VICI Properties owns a diverse portfolio of 28 gaming facilities, totaling 47 million square feet and approximately 18,000 hotel rooms. It leases properties to leading gaming and hospitality operators, including Caesars and Hard Rock International.

VICI Properties has announced a donation of nearly 58 acres of land from the former Bluegrass Downs Race Track in Paducah, KY, to McCracken County. This land will be developed into a youth recreational sports complex, benefiting approximately 1,200 children. The track ceased operations in October 2019. This gift aims to improve local recreational facilities and does not affect VICI's existing lease agreements. The company continues to manage a diverse portfolio of gaming and hospitality properties, including Caesars Palace.

Caesars Entertainment and VICI Properties announced the completion of the sale of Bally's Atlantic City to Bally's Corporation for $25 million. The proceeds from the transaction are allocated 75% to VICI and 25% to Caesars. This transaction does not affect the annual base rent payments under the existing Regional Master Lease between the two companies, which remain unchanged. The deal reflects VICI's strategy to maintain a diversified real estate portfolio in the gaming sector.

VICI Properties reported robust financial results for Q3 2020, with total revenues soaring 52.6% year-over-year to $339.7 million. Net income attributable to common stockholders reached $398.3 million, or $0.74 per share. Funds from Operations (FFO) mirrored net income at $398.3 million, a significant increase from the previous year. Additionally, the company announced a quarterly cash dividend of $0.33 per share, marking a 10.9% increase. VICI also successfully completed $3.7 billion in acquisitions, including an $80 million loan to Chelsea Piers New York, demonstrating its strategic diversification.