Welcome to our dedicated page for Vici Pptys news (Ticker: VICI), a resource for investors and traders seeking the latest updates and insights on Vici Pptys stock.
VICI Properties Inc. reports news on its real estate investment trust portfolio of gaming, hospitality, wellness, entertainment and leisure destinations in the United States and Canada. Company updates commonly cover acquisitions, sale-leaseback transactions, triple-net lease agreements, tenant relationships and amendments involving casino and resort real estate.
Recurring developments also include operating and financial results, capital-structure matters, governance updates and shareholder voting items. News involving VICI often centers on how newly acquired or re-leased properties fit within its portfolio of experiential real estate assets, including major gaming destinations and regional casino properties.
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.
VICI Properties announced a new lease with Hard Rock International related to the operations of The Mirage Hotel & Casino in Las Vegas. This agreement follows MGM Resorts' decision to sell the Mirage's operations, marking an expansion of VICI's partnership with Hard Rock. The lease will have an initial annual base rent of $90 million and includes a potential $1.5 billion redevelopment investment in the Mirage. Additionally, the MGM Master Lease will be amended, reducing its base rent by $90 million. Both transactions are expected to close in the second half of 2022.
VICI Properties Inc. (NYSE: VICI) has declared a regular quarterly cash dividend of $0.36 per share, covering the period from October 1, 2021 to December 31, 2021. This dividend will be payable on January 6, 2022 to stockholders of record by December 23, 2021. VICI Properties, a leading real estate investment trust, boasts a diversified portfolio that includes 27 gaming facilities, over 46 million square feet of space, and recognized properties like Caesars Palace. The company aims to maintain its position as a top experiential real estate provider.
Penn National Gaming reported Q3 2021 revenues of $1.5 billion, up $382.1 million YoY, and adjusted EBITDAR of $480.3 million, representing a 31.8% margin. Net income dropped to $86.1 million from $141.2 million last year. Key milestones included the launch of the Barstool Sportsbook app in five states, further expanding to ten states, and the acquisition of Score Media and Gaming. Challenges in Q3 arose from Hurricane Ida and the Delta variant, impacting profits by roughly $30 million. The company maintains a strong balance sheet with $3.4 billion in liquidity.
Caesars Entertainment and VICI Properties announced the completion of the sale of Harrah's Louisiana Downs Casino for $22 million. The proceeds were allocated with $5.5 million going to VICI and $16.5 million to Caesars, subject to standard cash adjustments. Despite the transaction, the annual base rent payments under the Regional Master Lease remain unchanged, indicating stability in their financial relationship going forward.
Caesars Entertainment (CZR) and VICI Properties (VICI) have finalized the sale of Harrah's Louisiana Downs to Rubico Acquisition Corp. for $22 million. The split of proceeds allocated $5.5 million to VICI and $16.5 million to Caesars, subject to customary adjustments. Importantly, the annual base rent payments under the Regional Master Lease between the two companies will remain unchanged. This transaction reflects Caesars’ ongoing strategy to optimize its asset portfolio while maintaining stable earnings from its lease agreements.
VICI Properties Inc. (NYSE: VICI) announced stockholder approval for the issuance of common stock related to its acquisition of MGM Growth Properties LLC (NYSE: MGP). Over 99.9% of votes favored the proposal during a special meeting, representing about 90% of VICI's outstanding shares. Shareholders of MGP Class A will receive 1.366 shares of VICI stock per MGP Class A share. The transaction is set to close in the first half of 2022, pending regulatory approvals and customary closing conditions.
VICI Properties reported a 10.6% revenue growth to $375.7 million for Q3 2021, with net income at $161.9 million or $0.28 per share. The company announced the $17.2 billion acquisition of MGM Growth Properties and a strategic arrangement to finance BigShots Golf. Adjusted Funds from Operations (AFFO) rose by 12.9% to $257.4 million, with AFFO per share at $0.45. VICI plans to fund the acquisition mainly through debt financing and has updated its full-year AFFO guidance to $1.04-$1.045 billion.