VICI Properties Inc. (VICI) Bundle
A Brief History of VICI Properties Inc. (VICI)
Company Overview
VICI Properties Inc. is a real estate investment trust (REIT) headquartered in New York, NY. As of 2024, the company specializes in gaming, hospitality, and entertainment-related real estate assets.
Financial Performance
| Metric | 2023 Value |
|---|---|
| Market Capitalization | $32.5 billion |
| Total Assets | $29.6 billion |
| Annual Revenue | $1.87 billion |
| Net Income | $1.12 billion |
Property Portfolio
VICI Properties owns a diverse real estate portfolio across multiple states.
- Total Properties: 95
- Geographic Locations: 20 states
- Primary Asset Types:
- Casino properties
- Gaming facilities
- Entertainment venues
Key Partnerships
| Partner | Type of Relationship | Property Count |
|---|---|---|
| Caesars Entertainment | Master Lease Agreement | 47 properties |
| MGM Resorts | Real Estate Ownership | 22 properties |
Stock Performance
VICI Properties trades on the New York Stock Exchange under the ticker VICI. As of January 2024, the stock price ranges between $32-$36 per share.
- 52-week Stock Price Range: $28.79 - $39.58
- Dividend Yield: 5.2%
- Price-to-Earnings Ratio: 21.3
A Who Owns VICI Properties Inc. (VICI)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 52,512,732 | 9.7% |
| BlackRock Inc. | 45,673,221 | 8.4% |
| Cohen & Steers Inc. | 26,847,825 | 5.0% |
| State Street Corporation | 22,519,643 | 4.2% |
Top Institutional Investors
- JPMorgan Chase & Co.: 19,843,562 shares
- Capital World Investors: 17,652,411 shares
- Northern Trust Corporation: 15,229,876 shares
- Dimensional Fund Advisors LP: 14,987,543 shares
Insider Ownership
VICI Properties executive leadership owns approximately 2.3% of total company shares.
Public Float
Total public float: 539,876,231 shares
Ownership Breakdown
| Ownership Category | Percentage |
|---|---|
| Institutional Investors | 78.6% |
| Retail Investors | 17.1% |
| Insider Ownership | 2.3% |
| Unaccounted | 2.0% |
VICI Properties Inc. (VICI) Mission Statement
Company Overview
VICI Properties Inc. is a real estate investment trust (REIT) with a market capitalization of $37.16 billion as of January 2024. Traded on NYSE under the ticker VICI, the company focuses on gaming, hospitality, and entertainment-related properties.
Core Business Strategy
| Total Property Portfolio | 44 properties |
| Total Gross Asset Value | $33.4 billion |
| Annualized Rental Revenue | $1.2 billion |
Property Portfolio Composition
- Caesar's Entertainment properties: 28 assets
- MGM Resorts properties: 12 assets
- Other gaming and hospitality properties: 4 assets
Financial Performance
| Revenue (2023) | $1.45 billion |
| Net Income (2023) | $831 million |
| Dividend Yield | 5.2% |
Geographic Presence
Properties located across 16 states, with significant concentration in Nevada, New Jersey, and Mississippi.
Strategic Objectives
- Acquire high-quality gaming and hospitality real estate
- Generate stable rental income
- Maintain long-term triple net lease agreements
Key Lease Details
| Average Lease Term | 25 years |
| Lease Escalators | 2-3% annual increases |
| Tenant Retention Rate | 98% |
How VICI Properties Inc. (VICI) Works
Company Overview
VICI Properties Inc. is a real estate investment trust (REIT) that primarily owns and manages gaming, hospitality, and entertainment-related properties. As of Q4 2023, the company owns 47 gaming and hospitality properties across the United States.
Property Portfolio
| Property Type | Number of Properties | Total Property Value |
|---|---|---|
| Casino Properties | 39 | $24.3 billion |
| Hospitality Properties | 8 | $3.7 billion |
Financial Performance
VICI Properties reported the following financial metrics for the fiscal year 2023:
- Total Revenue: $1.42 billion
- Net Income: $842 million
- Funds from Operations (FFO): $1.65 billion
- Dividend Yield: 5.6%
Major Tenants
| Tenant | Number of Properties | Annual Lease Revenue |
|---|---|---|
| Caesars Entertainment | 24 | $810 million |
| MGM Resorts | 12 | $455 million |
Geographic Distribution
VICI Properties owns properties across multiple states, with concentration in:
- Nevada: 15 properties
- New Jersey: 8 properties
- Mississippi: 6 properties
- Other states: 18 properties
Lease Structure
VICI Properties operates with long-term triple-net lease agreements with an average lease term of 24.5 years. The weighted average lease expiration is 2046.
Market Capitalization
As of January 2024, VICI Properties has a market capitalization of approximately $32.5 billion, trading on the NYSE under the ticker VICI.
How VICI Properties Inc. (VICI) Makes Money
Real Estate Investment Trust (REIT) Business Model
VICI Properties Inc. generates revenue primarily through leasing real estate assets to gaming and hospitality operators. As of Q4 2023, the company owned 54 gaming properties and 15 other hospitality-related real estate assets.
| Property Type | Number of Properties | Annual Lease Revenue |
|---|---|---|
| Gaming Properties | 54 | $1.2 billion |
| Hospitality Properties | 15 | $278 million |
Key Lease Agreements
VICI's primary tenants include:
- Caesars Entertainment
- MGM Resorts International
- Penn Entertainment
Rental Income Breakdown
| Tenant | Annual Lease Revenue | Lease Duration |
|---|---|---|
| Caesars Entertainment | $822 million | 15-20 years |
| MGM Resorts | $425 million | 15-20 years |
| Penn Entertainment | $235 million | 15-20 years |
Financial Performance
2023 Financial Highlights:
- Total Revenue: $1.48 billion
- Net Income: $892 million
- Dividend Yield: 5.6%
Property Portfolio Valuation
Total Property Portfolio Value: $32.5 billion (as of December 31, 2023)
Lease Characteristics
Lease Details:
- Average Lease Term: 17.4 years
- Contractual Rent Escalators: 2-3% annually
- Triple Net Lease Structure
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