Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, February 25, 2022

Article Excerpt

VICI PROPERTIES INC., $28.07, symbol VICI on New York, owns a major real-estate portfolio of gaming, hospitality and entertainment destinations. Its portfolio consists of 28 gaming facilities, and approximately 17,800 hotel rooms and more than 200 restaurants, bars, nightclubs and sportsbooks. The company’s properties are leased to major gaming and hospitality operators, including Caesars Entertainment, Century Casinos, Hard Rock International, JACK Entertainment LLC and Penn National Gaming. Vici also has an investment in the Chelsea Piers development in New York City and owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. On August 4, 2021, the REIT announced an acquisition that would see it acquire MGM Growth Properties LLC (symbol MGP on New York) for $17.2 billion. MGM Growth Properties owns 12 premier destination resorts in Las Vegas and elsewhere in the U.S. Once the transaction is completed, the combined entity will be the largest owner of “experiential” real estate in the U.S. It will also…