Deal Details

VICI Completes Near $1 Billion Follow-On Offering

Real Estate

VICI follow-on offering

Summary

VICI Properties, Inc. (“VICI” or the “Company”) (NYSE: VICI) completed an upsized follow-on offering of 30,302,500 shares of common stock at a price of $33.00 per share, inclusive of the underwriters’ option to purchase additional shares, generating gross proceeds of approximately $999.98 million. The Company expects to use net proceeds in connection with or in furtherance of its ongoing business and operations, including funding its pipeline for acquisitions, development and improvement of properties, origination and funding loans directly or indirectly secured by real estate, and other general corporate purposes, which may include capital expenditures, working capital and the repayment or refinancing of indebtedness.

Baird served as a Senior Co-Manager on this offering.

About

VICI is a real estate investment trust primarily engaged in the business of owning and acquiring gaming, hospitality, and entertainment destinations, subject to long-term triple net leases. As of today, its national, geographically diverse real estate portfolio consists of 49 gaming facilities across the United States and Canada comprising approximately 124 million square feet and features approximately 59,300 hotel rooms and more than 450 restaurants, bars, nightclubs, and sportsbooks. The Company also owns and operates four championship golf courses and 34 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI’s properties are leased to industry leading gaming and hospitality operators. VICI is headquartered in New York, New York.