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. announced the closing of a public offering of 69 million shares of common stock at $29.00 per share, including 9 million additional shares from underwriters’ options. The offering involved forward sale agreements with major financial institutions, and the company anticipates using the proceeds to fund its acquisition of The Venetian Resort and Sands Expo in Las Vegas, along with general business needs. Notably, VICI will not receive initial proceeds from the shares sold by forward purchasers, posing potential implications for immediate cash flow.
VICI Properties Inc. (NYSE: VICI) announced the pricing of a public offering of 60 million shares of common stock at $29.00 per share. The offering, expected to close on March 8, 2021, includes a 30-day option for underwriters to purchase up to an additional 9 million shares. Proceeds will be used for the acquisition of real estate assets associated with The Venetian Resort and Sands Expo, as well as general business purposes. The offering is conducted under an effective shelf registration statement.
VICI Properties Inc. (NYSE: VICI) announced an underwritten public offering of 60,000,000 shares of common stock, with an additional 9,000,000 shares offered at the underwriters' discretion. The shares will be sold through forward sale agreements with major financial institutions. The proceeds will fund the acquisition of The Venetian Resort and Sands Expo in Las Vegas, as well as support general business purposes including property acquisition and capital expenditures. The offering is conducted under an effective shelf registration statement.
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.