VICI Properties Annual Report 2020
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Caesars Entertainment and VICI Properties Inc. Announce Sale of Bally's Atlantic City to Twin River Worldwide Holdings Inc
Caesars Entertainment and VICI Properties Inc. Announce Sale of Bally's Atlantic City to Twin River Worldwide Holdings Inc. April 24, 2020 LAS VEGAS, April 24, 2020 /PRNewswire/ -- Caesars Entertainment Corporation ("Caesars" or "Caesars Entertainment") (NASDAQ:CZR) and VICI Properties Inc. ("VICI" or "VICI Properties") (NYSE: VICI) today announced they have reached an agreement to sell the Bally's Atlantic City Hotel & Casino to Twin River Worldwide Holdings Inc. (NYSE:TRWH) for approximately $25 million in cash. VICI will receive approximately $19 million from the sale, while Caesars will receive approximately $6 million. The annual base rent payments under the Non-CPLV Master Lease between Caesars and VICI remain unchanged. "We look forward to the reopening of Bally's Atlantic City as soon as appropriate once the public health emergency related to COVID-19 has passed," said Caesars CEO Tony Rodio. "We appreciate Twin River's commitment to this property, which has a great future ahead under its stewardship." "The sale of Bally's Atlantic City demonstrates our ongoing commitment to work collaboratively with our tenants to optimize our individual businesses, even during these unprecedented times," said John Payne, President and COO of VICI Properties. "This transaction allows us to maintain the existing financial terms of our master lease with Caesars and helps balance our geographic diversification as we work to complete the acquisition of Harrah's Resort Atlantic City." Following the sale, Caesars will continue to operate Caesars Atlantic City, which will include the Wild Wild West casino area and The Book sports wagering facility, and Harrah's Resort Atlantic City. -
Caesars Entertainment Donates More Than 250,000 Pounds of Food and Thousands of Personal Protection Supplies Across the United States
Caesars Entertainment Donates More Than 250,000 Pounds of Food And Thousands of Personal Protection Supplies Across the United States March 26, 2020 In addition to the thousands of pounds of food donations, Caesars Entertainment's resorts have distributed thousands of items including masks, gloves, sanitizer and more to nearby communities throughout the U.S. LAS VEGAS, March 26, 2020 /PRNewswire/ -- Caesars Entertainment, one of the world's most diversified gaming and entertainment companies, remains committed to helping nearby communities in this time of need, donating food, as well as essential personal protection equipment across the country to assist healthcare workers, law enforcement and more. To date, the company has supplied more than 250,000 pounds of food, which is equivalent to approximately 208,000 meals to numerous food banks and charities. Additionally, Caesars Entertainment has provided thousands of items including gloves, masks and hand sanitizer to local hospitals, first responders and local charities. **For high-res images and video, click here** "During these extraordinary circumstances, we are dedicated to assisting our local communities across the country that are heavily impacted by donating perishables to nearby food banks and charities, as well as necessary supplies to first responders," said Tony Rodio, CEO of Caesars Entertainment. "We will continue to seek ways to give back to our neighbors who are in need as part of our commitment to help put this unprecedented situation we are all facing behind us." All Caesars Entertainment resorts and casinos across the United States have volunteered to assist their local communities, including in Las Vegas. The following are some examples: Caesars Entertainment Las Vegas Resorts Donated approximately 116,000 pounds of perishable food items to Three Square Food Bank. -
VICI PROPERTIES INC. Form 8-K Current Event Report Filed 2019-07-31
SECURITIES AND EXCHANGE COMMISSION FORM 8-K Current report filing Filing Date: 2019-07-31 | Period of Report: 2019-07-31 SEC Accession No. 0001705696-19-000135 (HTML Version on secdatabase.com) FILER VICI PROPERTIES INC. Mailing Address Business Address 430 PARK AVENUE, 8TH 430 PARK AVENUE, 8TH CIK:1705696| IRS No.: 814177147 | State of Incorp.:MD | Fiscal Year End: 1231 FLOOR FLOOR Type: 8-K | Act: 34 | File No.: 001-38372 | Film No.: 19989056 NEW YORK NY 10022 NEW YORK NY 10022 SIC: 6798 Real estate investment trusts (646) 949-4631 Copyright © 2019 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________________________ FORM 8-K __________________________________________________ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): July 31, 2019 __________________________________________________ VICI Properties Inc. (Exact Name of Registrant as Specified in its Charter) __________________________________________________ Maryland 001-38372 81-4177147 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 430 Park Avenue, 8th Floor New York, New York 10022 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code: (646) 949-4631 Not Applicable (Former Name or Former Address, if Changed Since Last Report) __________________________________________________ -
Gaming and Leisure Properties Inc
Krause Fund Research April 12th, 2021 Spring 2021 Current Price $43.34 Target Price $50-55 Gaming and Leisure Properties, Inc. (NYSE: GLPI) Company Overview Real Estate Gaming and Leisure Properties, Inc. (NYSE:GLPI) is the first real estate investment trust to focus on acquiring real property assets Recommendation: BUY leased to gaming operators. The portfolio currently consists of 48 gaming properties diversified across 16 states including premier Analysts tenants like Penn National Gaming, Caesars Entertainment, Boyd Gaming Corporation, and more. Through triple-net lease Adam Schliesmann arrangements, GLPI expects to grow their portfolio by acquiring [email protected] gaming facilities of which they lease back to gaming operators. In Cameron Pietzsch [email protected] an industry poised to grow as state policy is changed, GLPI is Ethan Good positioned to emerge as a leader. [email protected] Evan Pyle [email protected] Stock Performance Highlights Kyle Bucsa 52 Week High $45.75 [email protected] 52 Week Low $24.39 Beta Value 1.58 Investment Thesis Key Statistics Market Cap (B) $10.55 We recommend a BUY rating for Gaming and Leisure Properties, Shares Outstanding 232,452 Inc. due to state wide policy reform and their sound business Dividend (Yield) 2.06 (6.01%) structure. EPS (2021E) 2.16 GLPI Exhibits Potential Strength: Company Performance Highlights ● State governments are deregulating gambling restrictions ROE 10.02% due to the tax collection opportunities casinos pose. This FFO (M) $684.39 increases GLPI’s ability to accumulate new properties in P/FFO $12.56 diversified markets from the increase of non-tribal gambling. -
View Presentation
Jefferies Virtual Consumer Conference June 23 - 24, 2020 Forward-Looking Statements Certain statements made in this news release contain various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” and similar words or similar expressions (or negative versions of such words or expressions). Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, among others, that may affect actual results or outcomes include the following: • the impact of the novel coronavirus (COVID-19) pandemic and related economic matters on our results of operations, financial conditions and prospects • the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit • additional or increased taxes and fees • public perceptions or lack of confidence in the integrity of our business or any deterioration in our reputation • loss of key or highly skilled personnel • restrictions in our debt facilities limiting our flexibility to operate our business • general risks related to real estate ownership, including fluctuations in market values and environmental regulations • catastrophic events -
Caesars Entertainment and VICI Properties Complete Sale of Harrah's Reno to CAI Investments
Caesars Entertainment and VICI Properties Complete Sale of Harrah's Reno to CAI Investments September 30, 2020 LAS VEGAS and NEW YORK, Sept. 30, 2020 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ: CZR) ("Caesars Entertainment" or "Caesars") and VICI Properties Inc. (NYSE:VICI) ("VICI Properties" or "VICI") today announced they have completed the previously disclosed transaction to sell Harrah's Reno Hotel and Casino ("Harrah's Reno") to an affiliate of CAI Investments for $41.5 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. About Caesars Entertainment Caesars Entertainment is the largest casino-entertainment company in the U.S. and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate. About VICI Properties VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. -
VICI Properties Inc. to Acquire JACK Cleveland Casino and JACK Thistledown Racino in Sale Leaseback Transaction with JACK Entertainment
NEWS RELEASE VICI Properties Inc. to Acquire JACK Cleveland Casino and JACK Thistledown Racino in Sale Leaseback Transaction With JACK Entertainment 10/28/2019 – Acquiring Market-Leading Properties at Attractive 7.8% Capitalization Rate – – Further Diversifying Tenant Roster Through Long-Term Partnership with JACK Entertainment – – Acquisition Expected to be Immediately Accretive at Closing – NEW YORK--(BUSINESS WIRE)-- VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced it has entered into a denitive agreement with an aliate of JACK Entertainment LLC (“JACK Entertainment”) to acquire 100% of the membership interests of its aliates that own casino-entitled land and real estate and related assets associated with JACK Cleveland Casino, located in downtown Cleveland, Ohio, and JACK Thistledown Racino, located approximately 10 miles southeast of downtown Cleveland in the city of North Randall, Ohio, for an aggregate purchase price of approximately $843.3 million in cash. Simultaneous with the closing of the transaction, the Company will enter into a master triple-net lease agreement with JACK Entertainment related to the assets. The master lease will have an initial total annual rent of $65.9 million, for an implied capitalization rate of 7.8%, and an initial term of 15 years with four 5-year tenant renewal options. The rent coverage ratio at closing is expected to be approximately 1.72x and the tenant’s obligations under the lease will be guaranteed by Rock Ohio Ventures LLC. Additionally, the Company will provide a $50 million loan secured by certain non-gaming real estate assets of Rock Ohio Ventures LLC, which will bear interest at 9.0% for a period of ve years with two 1-year extension options. -
Caesars Entertainment Bankruptcy
CAESARS ENTERTAINMENT BANKRUPTCY NATHAN MOONEY, ZICHONG PENG, CHAO WANG, AND JOANNA XU SUBMITTED TO: PROF. EDWARD ALTMAN & PROF. STUART KOVENSKY FOR: FINC-GB.3198.01 - CORPORATE BANKRUPTCY AND REORGANIZATION DATE: DECEMBER 14TH, 2017 FINC-GB.3198.01 TABLE OF CONTENTS Executive Summary 1 Part I – Pre-Leveraged Buyout History of Harrah’s Entertainment 1 Section 1.1 – From Humble Beginnings to Formidable Industry Player 1 Section 1.2 – Developing the Total Rewards Program 2 Section 1.4 Macroeconomic Environment Pre-LBO 3 Part II – The 2008 Leveraged Buyout by Apollo and TPG Capital 4 Section 2.1 Investment Thesis 4 Section 2.2 - Deal Structure 7 Part III – Could Bankruptcy Have Been Predicted? 8 Section 3.1 - External Factors for Decline 8 Section 3.2 - Internal Factor - Aggressive Capital Structure 9 Section 3.3 - Internal Factor - Missed Opportunity in Asian Markets 12 Part IV – Out-of-Court Restructuring Attempts 12 Section 4.1 – Capital Markets Transactions 13 Section 4.2 – Structural Reorganization and Related Asset Sales 14 Section 4.3 - Creditor’s Response and the Road to Bankruptcy 18 Part V – Major Pre-Bankruptcy Litigation 19 Part VI – The Bankruptcy Filing 21 Section 6.1 – Overview of the Bankruptcy 21 Section 6.2 – The Examiner’s Report 23 Part VII – Similar Cases 31 Section 7.1 – Case Study: Dynegy 32 Section 7.2 – Case Study: Sears Holdings 33 Part VII – Conclusion 34 CAESARS ENTERTAINMENT BANKRUPTCY EXECUTIVE SUMMARY In October 2006, Harrah’s Entertainment Inc. (“Harrah’s” or “HET”), later renamed Caesars Entertainment Corporation (“Caesars” or “CEC”), was the subject of a takeover offer from famous buyout firms Apollo Global Management (“Apollo”) and Texas Pacific Group Capital (“TPG”) (together, the “Sponsors”) that changed the company’s course forever. -
1 Order 2020-87 an Order of the Indiana Gaming
ORDER 2020-87 AN ORDER OF THE INDIANA GAMING COMMISSION CONCERNING GRANTING TRANSFER OF OWNERSHIP INTEREST IN OWNER’S LICENSES I. BACKGROUND On July 9, 2019, the Indiana Gaming Commission (“Commission”) received an application from Eldorado Resorts, Inc. (“Eldorado”) seeking the Commission’s approval to acquire Caesars Entertainment Corporation (“Caesars”) through a public merger. Eldorado is presently the parent company of Indiana casino owner’s licensee Aztar Indiana Gaming Company, LLC, operating as Tropicana Evansville Casino (“Tropicana Evansville”) located in Evansville, Indiana. Caesars is presently the owner of two (2) Indiana riverboat owner’s licenses and two (2) gambling games licenses (collectively, the “Indiana Caesars Licenses”) through its wholly-owned subsidiaries Caesars Resort Collection, LLC (“CRC”) and Caesars Entertainment Operating Company, LLC (“CEOC”). Those Indiana Caesars Licenses are: Hoosier Park, LLC, operating as Harrah’s Hoosier Park Racing & Casino located in Anderson, Indiana; Horseshoe Hammond, LLC operating as Horseshoe Hammond Casino located in Hammond, Indiana; Caesars Riverboat Casino, LLC, operating as Caesars Southern Indiana Casino located in Elizabeth, Indiana; and Centaur Acquisition, LLC, operating as Indiana Grand Racing & Casino located in Shelbyville, Indiana. Eldorado announced the merger with Caesars on June 24, 2019. Eldorado will acquire all of Caesars’ outstanding shares. The total cost of the merger is nearly $17 billion dollars. Upon completion of the merger, Eldorado will undergo a corporate name change to become Caesars Entertainment, Inc. As appropriate, references to and requirements of “Eldorado” in this Order includes and extends to the post-merger and closure entity Caesars Entertainment, Inc. If the merger is approved, the new company would own and operate approximately sixty (60) domestic gaming facilities across sixteen (16) states, including the Indiana Caesars Licenses and Tropicana Evansville (collectively referred to as “Indiana Licenses”). -
Let Us Suggest an Itinerary
Let us suggest an itinerary IN The Memory Maker 1 Tour the Harrison County Discovery Center, discover what brings Harrison County’s history from the dusty page into the living world. Explore history, natural science, caves, the Civil War, and more through hands on and immersive experiences. 2 A fascinating history lesson is in order with a guided tour of Indiana’s First State Capitol and Governor Hendricks Headquarters. 3 Step on guide of Historic Corydon and tour of the Civil War Battle Park 4 A special stop at the famous Butt Drugs where you can enjoy a cup of coffee, a milkshake, or a soda from the old fashioned soda fountain. • Additional Itinerary ideas: Zimmerman Art Glass Factory, The Artisan Center, a history themed meal The Weekender 1 Wine tasting and in-depth tour of Turtle Run Winery where you will learn what it takes to make great wine. 2 Shop for antiques, crafts and collectibles, take a walking tour, visit the old-fashioned soda fountain in downtown Corydon’s shopping district. 3 Watch in amazement a demonstration of hand-blown art glass at Zimmerman Art Glass Factory and browse the gift shop for a unique handmade item. • Additional Itinerary ideas: Best Vineyards Winery & Distillery, Indian Creek Winery The Outdoor Enthusiast 1 Explore Squire Boone Caverns discovered in 1790 by brothers Squire and Daniel Boone. You can also enjoy panning for gemstones, candle making, soap making and the gift shop. 2 Guided tour of Marengo Cave A United States National Natural Landmark offering a variety of underground splendor rarely seen in a single cave. -
Directions to Horseshoe Casino in Southern Indiana
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Introduction to 3 Easy High Roller Slots Tricks
High Limit Slots Tricks (Winning Strategy 6) | MP, OH, OK Slots 2018 PS 35: High Limit Slots Tricks (Winning Strategy 6) | MP, OH, OK Slots 2018 Opening Hello! Today’s episode #35 of the Professor Slots podcast discusses three High Limit Slots Tricks including Winning Strategy 6. Plus, in this episode I’ll be covering the current state of slot machine casino gambling in the great U.S. territory of Northern Mariana Islands as well as the great U.S. states of Ohio and Oklahoma. Thank you for joining me for the Professor Slots podcast show. I’m Jon Friedl and this is the podcast about slot machine casino gambling. It is where I provide knowledge, insights, and tools for helping you improve your slot machine gambling performance. “Jon Friedl from The Professor Slots Blog reveals all of his tips and tricks for thriving in the casino environment. Discover how to assess casinos to pick the best near you, choose winning slot machines, and identify your gambling goals: being entertained, earning comps, winning take-home cash, or combine them. Jon has won 90 taxable jackpots and a luxury car in 9 months of slots play - and made a profit at slots gambling since 2013.” On Last Week’s Episode… In case you missed it, on last week’s episode I went over Winning Strategy 5: Winning Holiday Patterns, explaining how holidays are its own kind of special casino event to be taken advantage of from the slots player’s point of view. Also last week, I reviewed New York, North Carolina, and North Dakota slot machine casino gambling.