Palace Station Hotel And Casino Oyster Bar 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. is online gambling legal in ct 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. “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. bovada casino cleveland Ruby Slots 50 Free Ruas 5 percent from Friday’s close.

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. Those deals were worth a combined 3. intertops casino no deposit codes liberty slots promo codes mohegan sun casino events wilkes barre 5 million and were pivotal in helping Eldorado complete its quest to acquire Caesars. black hawk casino tribe Golden Nugget Casino Water Slide Hlax The buyer subsequently took the seller’s name. is the mohegan sun casino in connecticut open VICI’s benevolence didn’t end there.

Key Insights and Expert Analysis

The Rbicycle casino poker atlasEIT struck a deal with JACK Entertainment whereby it will spend million to refurbish the patio area at JACK Thistledown Racino in Ohio. scarlet pearl casino careers 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” . Hallmark Casino Reviews Jxmz 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. morongo casino events 2020 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. black hawk casino covid rules That could put a dividend increase on the table next month, according to the analyst.

The REIT last boosted its payout in September 2019. a casino roulette wheel “If VICI increases the dividend prior to its 75 percent target ratio, then the yield would jump to 6. 4 percent,” said the analyst. “We find that to be attractive value, particularly against other alternatives and the risk-free rate. cool cat casino app ” Amid a flurry of recently positive travel news, Macau is on the right track when it comes to gaming industry recovery from the coroanvirus pandembicycle casino poker atlasic. pechanga casino union no deposit bonus casino india 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. lucky creek casino no deposit bonus codes october 2021 The Grand Lisboa in Macau.

Analysts expect news flow on travel restrictions will improve and be brisk over the near-term. (Image: Bloomberg)Earlier this month, Guangdong province scrapped its 14-day quarantine policy previously applied to travelers arriving from Macau. Scarlet Pearl Casino Mibibippi Xhsn This week, it was reported that Chinese officials will resume issuing travel permits for mainland residents seeking entry to the gaming hub for academic, business, and family purposes. The visa news is widely viewed as a positive. But Beijing continues holding off on lifting a freeze on individual visit scheme (IVS) permits — the pass that half of Chinese nationals twin river casino open hours