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 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.
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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.
VICI Properties announced the upcoming release of its Q3 2020 financial results, scheduled for October 28, 2020, after the market close. A conference call will follow on October 29, 2020, at 10:00 a.m. ET, accessible via registration. VICI Properties, a real estate investment trust, boasts a diverse portfolio of 30 gaming facilities and various hospitality venues, including the iconic Caesars Palace. Its properties support operators like Caesars and Hard Rock International, focusing on creating a high-quality experiential real estate portfolio.
VICI Properties has been recognized for its exceptional corporate governance, ranking second among America’s 669 largest corporations in an independent study by James Drury Partners. The Company’s Board of Directors also led the Financials Industry Sector, highlighting their governance capacity. The report assesses the combined business acumen and experience of board members to determine their capacity to govern effectively. James Abrahamson, Chair of the Board, expressed pride in this acknowledgment, emphasizing that the Board's diversity and experience contribute to long-term shareholder value.
Caesars Entertainment and VICI Properties announced the successful sale of Harrah's Reno Hotel and Casino for $41.5 million to an affiliate of CAI Investments. The financial proceeds were allocated 75% to VICI and 25% to Caesars. Importantly, the annual rent payments under their existing Regional Master Lease will remain unchanged following this transaction. This strategic divestment reflects both companies' ongoing efforts to optimize their operational portfolios and maintain stable revenue streams.
Caesars Entertainment (NASDAQ: CZR) and VICI Properties (NYSE: VICI) have finalized the sale of Harrah's Reno Hotel and Casino for $41.5 million. The financial proceeds from the transaction are allocated 75% to VICI and 25% to Caesars. This sale will not affect the annual rent payments under the existing Regional Master Lease between the two companies. This move aligns with Caesars' strategy to optimize its portfolio while providing VICI with an opportunity to enhance its gaming and entertainment property holdings.
On September 18, 2020, Caesars Entertainment (NASDAQ: CZR) announced a $400 million mortgage with VICI Properties (NYSE: VICI), secured by the CAESARS FORUM Conference Center in Las Vegas. The five-year mortgage carries an initial interest rate of 7.7% and permits prepayment starting in the third year. Concurrently, Caesars and VICI amended their existing Put-Call Right Agreement, accelerating VICI's call option to 2025. The conditionality regarding a potential land sale near The LINQ has been waived, and both parties are evaluating this land transaction.