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. will release its third quarter 2021 financial results on October 27 after the market closes. A conference call is scheduled for October 28 at 10:00 a.m. ET. Investors can join via phone or through a live audio webcast available on the company's website. An audio replay will be accessible from 1:00 p.m. ET on October 28 until November 4. VICI Properties, a leading real estate investment trust, owns a diverse portfolio of gaming and hospitality properties, including Caesars Palace.
VICI Properties Inc. (NYSE: VICI) announced that its subsidiaries, VICI Properties L.P. and VICI Note Co. Inc., have secured consents from over a majority of holders for proposed amendments regarding all outstanding MGM Growth Properties Operating Partnership LP notes. The exchange offers involve exchanging MGP notes for up to $4.20 billion in new VICI notes. The expiration date for this offer has been extended to December 31, 2021, and is contingent on the completion of anticipated mergers expected to finalize in the first half of 2022.
VICI Properties (NYSE: VICI) has partnered with ClubCorp to expand BigShots Golf across the U.S. with a potential mortgage financing of up to $80 million for five new facilities. This strategic alliance aims to leverage ClubCorp's expertise in creating engaging experiences, aligning with VICI's focus on growing within experiential sectors. VICI will also have the option to acquire real estate assets associated with these facilities and has rights for future financing arrangements. This partnership represents a notable opportunity for long-term growth.
VICI Properties (NYSE: VICI) announced the complete repayment of approximately $2,102.5 million of its Term Loan B Facility, funded by proceeds from a share issuance of 65 million shares and a forward sale agreement. This decision eliminates all secured debt from VICI's balance sheet, aligning with its goal of achieving an investment-grade capital structure. The company maintains its undrawn five-year first lien revolving credit facility. CFO David Kieske emphasized the disciplined capital allocation underpinning this strategic move.
VICI Properties Inc. (NYSE: VICI) announced the completion of a public offering of 115 million shares of common stock at $29.50 per share, raising funds primarily for debt reduction and to support the acquisition of The Venetian Resort and The Venetian Expo in Las Vegas. Of the total shares, 65 million were sold directly to underwriters, and the remainder was connected to forward sale agreements. Proceeds from this offering are expected to enhance VICI's financial position and facilitate strategic growth opportunities.
VICI Properties Inc. announced private exchange offers for its new senior notes, replacing senior notes from MGM Growth Properties. The offerings include:
- 5.625% Senior Notes due May 2024
- 4.625% Senior Notes due June 2025
- 4.500% Senior Notes due September 2026
- 5.750% Senior Notes due February 2027
- 4.500% Senior Notes due January 2028
- 3.875% Senior Notes due February 2029
The exchanges are tied to previously announced mergers expected to close in the first half of 2022, pending approvals.
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.