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VICI Properties Inc. is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.
The company is one of the United States' largest owners of gaming, hospitality and entertainment destinations. 43 gaming facilities comprising over 122 million square feet and features approximately 58,700 hotel rooms and more than 450 restaurants, bars, nightclubs and sportsbooks.
2017: Vici acquired Harrah's Las Vegas from Caesars in December for $1.1 billion. As a spin-off from Caesars Entertainment Corporation as part of its bankruptcy reorganization. Leased it back at an initial annual rent of $87.4 million.
2018: The company moved its headquarters to New York City from the Las Vegas area mid-year. Vici completed two transactions with Caesars, purchasing the Octavius Tower at Caesars Palace for $508 million and Harrah's Philadelphia for $242 million, leasing them back to Caesars for $35 million and $21 million per year, respectively.
2019: Vici bought a second casino from Greektown seller Jack Entertainment, Jack Cincinnati Casino, in September, paying $558 million for the real estate; Hard Rock International leased the property for $43 million per year.
2020: In July, Eldorado Resorts acquired Caesars Entertainment, becoming Vici's primary tenant, and renamed itself to Caesars Entertainment.
2021: In March, Vici agreed to purchase the real estate of the Venetian complex on the Las Vegas Strip from Las Vegas Sands for $4 billion.
2022: VICI purchased the real estate of the Venetian complex on the Las Vegas Strip from Las Vegas Sands for $4 billion. In April, VICI acquired MGM Growth Properties for $17.2 billion (including $5.7 billion in assumed debt). The purchase added full ownership of thirteen properties to VICI's portfolio, and half ownership of the MGM Grand Las Vegas and Mandalay Bay resorts, and increased VICI's annual revenue by $1 billion.
“VICI Properties aims to deliver sustained income and value growth through its strategy of creating the highest quality and most productive experiential asset portfolio in American real estate investment management.”
“Our vision is to enable our customers' long-term economic success by delivering relevant and trusted technology solutions.”
https://en.wikipedia.org/wiki/Vici_Properties
https://www.zippia.com/vici-properties-careers-2172944/history/
https://www.crunchbase.com/organization/vici-properties
https://investors.viciproperties.com/home/default.aspx
https://sec.report/CIK/0001705696
https://companiesmarketcap.com/largest-companies-by-revenue/
https://finance.yahoo.com/quote/VICI/
https://www.investing.com/equities/vici-properties
https://www.forbes.com/companies/vici-properties/
https://www.bloomberg.com/profile/company/1545980D:US
https://www.wsj.com/articles/casino-owner-vici-properties-to-buy-mgm-growth-properties-11628081073
