Lake Tahoe Casino For Sale 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. VICI said that positive trend is continuing, as it’s collected all of owed July lease obligations. pechanga casino maluma bellagio casino deals VICI remains our top idea of the gaming REITs, a space where we are bullish,” said Wolfe Research analyst Jared Shojaian. “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. He maintains a price target of on the owner of several Harrah’s properties, implying an upside of 33. mountaineer casino steakhouse 5 percent from Friday’s close. santa ana casino fireworks draftkings casino download st croix casino in turtle lake online gambling age

Neighborly SupportIn what is a rough climate for gaming companies, VICI is showing a willingness to work with tenants. 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. valley forge casino open today Those deals were worth a combined 3. 5 million and were pivotal in helping Eldorado complete its quest to acquire Caesars. The buyer subsequently took the seller’s name. VICI’s benevolence didn’t end there. winstar world casino and resort hotel

Key Insights and Expert Analysis

The Rhollywood casino outdoor concert seriesEIT struck a deal with JACK Entertainment whereby it will spend million to refurbish the patio area at JACK Thistledown Racino in Ohio. Island View Casino Lazy River Vwnq Netherlands 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” . 8 million. seminole casino explosion Shojaian said the deal with JACK is another example of VICI exchanging “value for value,” and that could facilitate more growth down the road. borgata casino in nj 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. Las Atlantis Casino No Deposit Bonus Codes September 2021 That could put a dividend increase on the table next month, according to the analyst.

The REIT last boosted its payout in September 2019. “If VICI increases the dividend prior to its 75 percent target ratio, then the yield would jump to 6. 4 percent,” said the analyst. free poker slots 4u “We find that to be attractive value, particularly against other alternatives and the risk-free rate. Hard Rock Casino Events Vgwx ” Amid a flurry of recently positive travel news, Macau is on the right track when it comes to gaming industry recovery from the coroanvirus pandemhollywood casino outdoor concert seriesic. ouverture table poker casino But there’s still work to be done, and investors should brace for a steady stream of news over the coming months, according to investment bank Jefferies. The Grand Lisboa in Macau. silver oak casino free spins 2020

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