|Bid||21.00 x 900|
|Ask||21.63 x 800|
|Day's Range||21.58 - 22.17|
|52 Week Range||17.64 - 23.27|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||14.70|
|Forward Dividend & Yield||1.15 (5.04%)|
|1y Target Est||25.80|
VICI Properties Inc. (VICI) (“VICI Properties” or the “Company”), an experiential asset real estate investment trust, today announced the pricing of an underwritten public offering of 100,000,000 shares of its common stock at a public offering price of $21.50 per share. The Company is issuing and selling 35,000,000 shares directly to the underwriters at closing and the underwriters are purchasing 65,000,000 shares related to the forward sale agreements described below.
Caesars Entertainment (CZR) stock jumped over 15% Monday after news broke that the company agreed to merge with Eldorado Entertainment (ERI).
"As a combined company, Caesars and Eldorado will be America's preeminent gaming company," activist investor Carl Icahn said of the deal he helped reach fruition. "ERI has proven its ability to execute and VICI has positioned itself to continue growing, both of which are consistent with our theses," Jefferies analyst David Katz said.
(Bloomberg Opinion) -- In M&A, much like in blackjack, players have to be wary of a stiff hand – bid too high and it could be a bust. That’s especially true when the dealer is Carl Icahn. Eldorado Resorts Inc., a casino operator, is being punished by shareholders for its acquisition announced Monday of Caesars Entertainment Corp. Eldorado’s stock tumbled more than 8% percent.The company agreed to buy its Las Vegas-based rival for $17.3 billion, about half of which is made up of debt. It’s the biggest casino deal since Caesars’ ill-fated leveraged buyout by TPG and Apollo Management in 2008 (which came together just before the financial crisis took hold and later led Caesars into bankruptcy). Eldorado also struck a parallel $3.2 billion deal with VICI Properties Inc. for certain related real estate assets, such as the Harrah’s Resort in Atlantic City. Icahn, Caesars’ top shareholder, had been pushing for a sale of the company and helped install industry veteran Tony Rodio as its CEO in April. The situation happens to bear close resemblance to another deal Eldorado did last year, when it acquired Tropicana Entertainment from Icahn Enterprises LP, the billionaire’s holding company, for $1.85 billion. Rodio was CEO of Tropicana, too. With the Caesars transaction, Reno, Nevada-based Eldorado is expanding its portfolio to 60 casino resorts and gaming facilities in 16 states. It had just two as of 2014, according to Bloomberg Intelligence. There are the benefits of getting bigger, but at the same time, Eldorado’s calculations leave little room for error. Its offer for Caesars is a combination of cash and stock that amounts to $12.75 a share, a significant bump from its earlier $10.50-a-share bid that was reported this month by the New York Post, citing an unnamed source. On average, analysts pegged the stand-alone value of Caesars shares at $11 apiece. The final takeover price is a 35% premium to its average closing level over the past 20 trading sessions, though Icahn himself notes that it’s 51% higher than Caesars’ stock price before he won three seats on the board in March and began making his sale push. Icahn built his stake when the stock was trading below $9. Eldorado estimates $500 million of cost savings from the deal, a figure that has analysts from Sanford C. Bernstein skeptical. “While Eldorado has been successful in rolling up gaming assets across the U.S., this acquisition of a whale operator is at a completely different level,” they wrote in a report published Monday. The synergies estimate is also double what Brian Egger, an analyst for Bloomberg Intelligence, had assumed.The suitor beat out Golden Nugget owner Tilman Fertitta, but now it needs to prove to investors that it was worth it. As for Icahn, once again, the house wins. To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Eldorado Resorts (NASDAQ: ERI ) will acquire Caesars Entertainment (NASDAQ: CZR ) in a cash-and-stock transaction of .3 billion . Caesars is one of the world's largest gambling companies and has had a ...
Shares of Caesars Entertainment Corp. soared 16% toward an 11-month high in premarket trading Monday, after the casino operator agreed to be bought out by Eldorado Resorts Inc. in a deal that values Caesars at about $8.6 billion. Under terms of the deal, Caesars shareholders will receive a value of $12.75 for each share they own, which represents a 28% premium to Friday's stock closing price. The buyout bid consists of $8.40 in cash and 0.0899 Eldorado shares, based on the 30-day volume-weighted average price of Eldorado shares as of May 23. The total value of the deal is $17.3 billion, including $7.2 billion in cash, 77 million Eldorado shares and the assumption of Caesars debt. "Eldorado's combination with Caesars will create the largest owner and operator of U.S. gaming assets and is a strategically, financially and operationally compelling opportunity that brings immediate and long-term value to stakeholders of both companies," said Eldorado Chief Executive Tom Reeg. Separately, Eldorado announced a deal with VICI Properties Inc. in which VICI will buy the real estate associated with three Harrah's branded assets for $1.8 billion and leases to two casino assets are amended. Eldorado's stock dropped 6.1% ahead of the open while VICI shares were still inactive. Caesars' stock has rallied 15% over the past three months while the S&P 500 has gained 5.4%.
VICI Properties Inc. (VICI) (“VICI Properties” or the “Company”), an experiential asset real estate investment trust, today announced it has commenced an underwritten public offering of 90,000,000 shares of its common stock. The Company expects that it will issue and sell 30,000,000 shares directly to the underwriters at closing and that the underwriters will purchase 60,000,000 shares related to the forward sale agreements described below.
VICI Properties Inc. (VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced it has entered into a definitive agreement (the “Master Transaction Agreement”) with Eldorado Resorts, Inc. (ERI) (“Eldorado”) in connection with Eldorado’s proposed business combination with Caesars Entertainment Corporation (CZR) (“Caesars”). Per the terms of the Master Transaction Agreement, VICI Properties will acquire the land and real estate assets associated with Harrah’s New Orleans, Harrah’s Laughlin, and Harrah’s Atlantic City and modify certain provisions of the existing Caesars lease agreements for total consideration of approximately $3.2 billion in cash.
COLORADO SPRINGS, Colo., June 17, 2019 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or "the Company"), announced today that it has entered into a definitive agreement to acquire the operations of Isle Casino Cape Girardeau ("Cape Girardeau"), Lady Luck Caruthersville ("Caruthersville") and Mountaineer Casino, Racetrack and Resort ("Mountaineer") from Eldorado Resorts, Inc. (Nasdaq Capital Market®: ERI) ("Eldorado Resorts") for approximately $107.0 million.
VICI Properties Inc. (VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced it has, together with Century Casinos, Inc. (CNTY) (“Century”), entered into definitive agreements to acquire Isle Casino Cape Girardeau in Cape Girardeau, Missouri, Lady Luck Casino Caruthersville in Caruthersville, Missouri, and Mountaineer Casino, Racetrack & Resort in New Cumberland, West Virginia, from Eldorado Resorts, Inc. (ERI) (“Eldorado”) for an aggregate purchase price of approximately $385.0 million in cash. Pursuant to the agreements, VICI Properties will acquire the land and real estate assets of the properties for approximately $278.0 million, and Century will acquire the operating assets of the properties for approximately $107.0 million.
Is VICI Properties Inc. (NYSE:VICI) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to […]
VICI Properties Inc. (VICI) (“VICI Properties” or the “Company”) announced today that its board of directors has declared a regular quarterly cash dividend of $0.2875 per share of common stock for the period from April 1, 2019 to June 30, 2019. VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties’ national, geographically diverse portfolio consists of 23 gaming facilities comprising over 40 million square feet and features approximately 15,200 hotel rooms and more than 150 restaurants, bars and nightclubs.
VICI Properties Inc. announced today that management will present at Nareit’s REITWeek 2019 Investor Conference at the New York Hilton Midtown on Tuesday, June 4, 2019 at 8:45 a.m.
Disappointing performances by gambling stocks over the last five trading days result from concerns over the trade war between Beijing and Washington.
VICI Properties Inc. , an experiential real estate investment trust, today announced it has completed the previously disclosed transaction to acquire the land and real estate assets of the Greektown Casino-Hotel , located in downtown Detroit, Michigan, for approximately $700 million in cash, with Penn National Gaming, Inc.
VICI Properties Inc. announced today that the Company has amended its revolving credit facility to, among other things, increase borrowing capacity by $600 million to a total of $1.0 billion and extend the maturity date to May 2024.
How do you pick the next stock to invest in? One way would be to spend hours of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
Billionaire George Soros is one of the greatest investors of all time. His overall performance ranks up there with Simons, Buffett, Icahn, and other famous names. Soros has also shown his shrewdness in the futures market, forex market, and the equity market. Unlike some other markets, we as average investors get to see how his fund, Soros […]
VICI Properties Inc. (VICI) (“VICI Properties” or the “Company”) announced today that it will release its first quarter 2019 financial results on Wednesday, May 1, 2019 after the close of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, May 2, 2019 at 10:00 a.m. Eastern Time (ET). A live audio webcast of the conference call will be available through the “Investors” section of the Company’s website, www.viciproperties.com, on May 2, 2019, beginning at 10:00 a.m. ET.
VICI announced Friday that it will acquire 100 percent of the land and real estate assets of JACK Cincinnati for $558 million. JACK Cincinnati opened in 2013 as the Horseshoe Casino before being rebranded as JACK in 2016.