Vici Pptys Stock Price, News & Analysis

VICI Properties has announced its acquisition of the Venetian Resort Las Vegas and Sands Expo and Convention Center from Las Vegas Sands for $4 billion, representing a 6.25% cap rate. An affiliate of Apollo Global Management will acquire the operating company for $2.25 billion. A triple-net lease with initial annual rent set at $250 million for 30 years will be established. LVS will support lease payments through 2023, with rent escalating at least 2% annually. The transaction is pending regulatory approvals, expected for completion by year-end 2021.

VICI Properties, a real estate investment trust, reported a strong financial performance for Q4 and FY 2020, with revenues rising 57% to $373 million in Q4 and 37% to $1.2 billion for the full year. Net income attributed to common stockholders reached $288 million for Q4 ($0.53/share) and $891.7 million for the year ($1.75/share). The company completed $4.6 billion in acquisitions, increased its quarterly dividend by 10.9%, and maintained strong rent collections amid the pandemic. 2021 AFFO guidance is set between $1.82 and $1.87 per diluted share.

VICI Properties announced the tax treatment of its 2020 common stock dividends, urging shareholders to consult tax advisors for specifics. Key details include a total cash dividend of $1.5525 per share, with dividends paid on various dates and tax implications for federal income. The record dates for dividends ranged from December 27, 2019, to December 23, 2020, reflecting standard payout intervals. Shareholders should note that the January 2021 dividend will be reported on their 2021 tax forms due to tax treatment regulations. VICI Properties operates a large portfolio of gaming and hospitality venues.

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.