Red Stag Casino Affiliates al estate investment trust (REIT) said it collected 100 percent of rent in the June quarter — no small feat when considering US casinos were closed for all of April and many were shuttered for significant portions of May and June. popular poker casino games VICI said that positive trend is continuing, as it’s collected all of owed July lease obligations. VICI remains our top idea of the gaming REITs, a space where we are bullish,” said Wolfe Research analyst Jared Shojaian. morongo casino outlets “We see attractive value and a path to multiple re-rating from gaming REIT convergence to the triple-net REIT average, improvement to its key tenant, Caesars and record low interest rates,” he continued. In late June, Shojaian initiated coverage of VICI with an “outperform” rating. Is Las Atlantis Casino Legit Swam He maintains a price target of on the owner of several Harrah’s properties, implying an upside of 33.

5 percent from Friday’s close. Kwik Trip Near Black Bear Casino Fzhc Neighborly SupportIn what is a rough climate for gaming companies, VICI is showing a willingness to work with tenants. easiest fanduel casino game For example, in June, the real estate firm helped Caesars, then Eldorado Resorts, monetize the Caesars Forum Convention Center at Caesars Palace on the Las Vegas Strip. They did that while buying 23 acres of unused land on the Strip from the casino giant. sam s town casino jobs Those deals were worth a combined 3. 5 million and were pivotal in helping Eldorado complete its quest to acquire Caesars. big dollar casino coupons

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The buyer subsequently took the seller’s name. mychoice casino locations cache creek casino free bus las vegas casino roulette table minimums VICI’s benevolence didn’t end there. The Rbovada 100 casino bonusEIT struck a deal with JACK Entertainment whereby it will spend million to refurbish the patio area at JACK Thistledown Racino in Ohio. clearwater casino lewiston id The benefit to VICI is that the lease on that property will be extended by five years, and starting in April 2022, the rent will go up by an “incremental” . harrah s cherokee casino bowling 8 million. Shojaian said the deal with JACK is another example of VICI exchanging “value for value,” and that could facilitate more growth down the road.

Other Fringe BenefitsAlthough VICI owns Caesars Palace and Harrah’s on the Las Vegas Strip — an area that’s struggling mightily because of the coronavirus pandemic — the largest US gaming center accounts for just 30 percent of the real estate firm’s annual rental income, a favorable trait in today’s challenging climate. Shojaian noted that VICI’s payout ratio based on a run-rate of acquired funds from operations (AFFO) is 64 percent, well below the 80 percent average on its peers. That could put a dividend increase on the table next month, according to the analyst. The REIT last boosted its payout in September 2019. doubledown casino 1m+ free chips casino slot interview questions “If VICI increases the dividend prior to its 75 percent target ratio, then the yield would jump to 6. popular table games casino 4 percent,” said the analyst.

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