MARKET COMPOSITE
VICI - VICI Properties Inc9:00:02 PM 2/20/2024
Price
$29.56
+ 0.03 (0.10%)
Vici Properties is a real estate investment trust specializing in casino properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation. It owns 32 casinos, hotels, and racetracks and 4 golf courses throughout the United States. Vici Properties was formed as part of the Chapter 11 bankruptcy reorganization of Caesars Entertainment Operating Company , the largest division of Caesars Entertainment. After placing CEOC into bankruptcy in January 2015, Caesars proposed splitting CEOC into two companies: a REIT, which would own the company's casinos, and an operating company, which would manage them. The plan was designed to maximize value for CEOC's creditors by taking advantage of favorable tax treatment for REITs. Several members of Congress opposed the plan, calling it an abuse of the REIT laws. They asked the Internal Revenue Service to deny tax-free status to the spin-off, but their protest went unheeded.
Financials
Quarterly financials
(USD)Sep 2023Q/Q
Revenue904.3MM+1%
Gross Profit898MM-
Cost Of Revenue6.3MM-4%
Operating Income566.1MM-20%
Operating Expenses331.9MM-
Net Income556.3MM-19%
G&A14.4MM-3%
Interest Expense204.9MM+1%
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