Vici Pptys Stock Price, News & Analysis

VICI Properties Inc. (NYSE: VICI) will release its Q1 2023 financial results on May 1, 2023, following the NYSE trading close. A conference call with an audio webcast is scheduled for May 2, 2023, at 9:00 a.m. ET. Investors can access the call by calling 833-470-1428 (domestic) or +1 404-975-4839 (international) and entering conference ID 621271. An audio replay will be available until May 9, 2023, and a live webcast will be accessible via www.viciproperties.com.

VICI Properties is a leader in experiential real estate, owning a diverse portfolio of 49 gaming facilities across the U.S. and Canada.

VICI Properties Inc. (NYSE: VICI) has declared a quarterly cash dividend of $0.39 per share for the period from January 1, 2023 to March 31, 2023. The dividend is payable on April 6, 2023, to stockholders of record as of the close of business on March 23, 2023. With a strong portfolio of 49 gaming and hospitality properties across the U.S. and Canada, VICI continues to emphasize its commitment to delivering value to shareholders through consistent dividend payments. The company's diverse assets include iconic destinations like Caesars Palace and MGM Grand, reinforcing its position as a leader in experiential real estate.

VICI Properties Inc. (NYSE: VICI) CEO Edward Pitoniak appeared on CNBC’s “Mad Money” on February 24, 2023, discussing the company's FY 2022 earnings and 2023 outlook. VICI Properties is a leading experiential real estate investment trust with a diverse portfolio of 49 gaming facilities across the U.S. and Canada. The company emphasizes its strategy to enhance its experiential real estate assets, which includes prominent locations like Caesars Palace and MGM Grand. Investors were encouraged to review the earnings results for insights on future performance.

VICI Properties reported significant financial growth for 2022, achieving a 72.3% increase in total revenues, amounting to $2.6 billion. The company reported a 100.9% rise in Q4 revenues to $769.9 million, with net income attributable to common stockholders rising 10.2% to $1.1 billion. Significant transactions included a $22.8 billion acquisition total, notably from MGM Growth Properties and the Venetian Resort. VICI's AFFO increased 61.7% year-over-year, reaching $1.7 billion. For 2023, VICI anticipates AFFO between $2.10 and $2.13 per share, indicating ongoing growth.

CNE Gaming Holdings LLC, a subsidiary of Cherokee Nation Businesses, has taken over operations of Gold Strike Casino Resort following approval from the Mississippi Gaming Commission. The acquisition cost approximately $450 million in cash, purchased from MGM Resorts International. As a part of the transaction, a long-term lease was signed with VICI Properties Inc., which owns the property. The acquisition aims to expand CNE's presence in the gaming industry outside Oklahoma, retaining over 1,100 employees and maintaining the casino's existing operations and offerings. Key executives expressed enthusiasm about enhancing their hospitality portfolio.

VICI Properties Inc. (NYSE: VICI) has announced a triple-net lease agreement with Cherokee Nation Businesses (CNB) related to Gold Strike Casino Resort's acquisition. The lease starts with an annual rent of $40 million for an initial term of 25 years, with annual escalations of 2%. This agreement follows the reduction of annual base rent under VICI's master lease with MGM Resorts International (NYSE: MGM) by $40 million, now totaling $730 million. The lease terms are guaranteed by CNB, enhancing VICI's stability in the gaming and hospitality sector.

MGM Resorts International (NYSE: MGM) has successfully closed the sale of Gold Strike Tunica's operations to CNE Gaming Holdings for $450 million in cash. The transaction is expected to yield approximately $350 million in net cash proceeds after taxes and fees. Gold Strike reported a net income of $47 million and an Adjusted Property EBITDAR of $98 million for the year ending December 31, 2022. Following the sale, MGM will amend its master lease with VICI Properties (NYSE: VICI), reducing annual rent by $40 million. The proceeds will strengthen MGM's balance sheet, support growth initiatives, and enable capital returns to shareholders.

PENN Entertainment reported its 2022 fourth quarter results with revenues of $1.6 billion, up 0.8% year-over-year. However, net income decreased to $20.8 million from $44.8 million, yielding a net income margin of 1.3%. Adjusted EBITDAR was $468.3 million, down 2.5% year-over-year, though Adjusted EBITDA improved by 18.8% to $438.3 million. The company initiated guidance for 2023 with projected revenues between $6.15 billion and $6.58 billion. PENN also repurchased $91 million of stock and has $2.6 billion in total liquidity, alongside total traditional net debt of $1.1 billion.

VICI Properties Inc. (NYSE: VICI) has announced a construction loan of up to $287.9 million to Great Wolf Resorts for the development of a new Great Wolf Lodge in Mashantucket, Connecticut. This resort will feature 549 rooms and an indoor water park, scheduled to open in mid-2025. This marks VICI’s fourth loan investment with Great Wolf, totaling $553.4 million in capital commitments to support their development pipeline. VICI Properties, a leader in experiential real estate investment, owns a diverse portfolio of gaming and hospitality properties across the US and Canada.