which wrapped up in late April<\/a>, VICI added nearly 41,000 hotel rooms and 1.2 million square feet of gaming space.<\/p>\nVICI now owns the property assets of Excalibur, Luxor, Mandalay Bay, MGM Grand, Mirage, New York New York, and Park MGM, as well as various regional casinos operated by MGM Resorts.<\/strong><\/p>\nVICI Dividend Sustainability<\/h2>\n Experienced investors know that while a company raising its payout is usually a good thing, it\u2019s more important that the firm has the resources to meet current payout obligations and continue growing the dividend over time.<\/p>\n
VICI checks those boxes. By way of the aforementioned acquisitions and others, the REIT added multiple new streams of rental income. Importantly, the company\u2019s contracts with tenants are long-term — often a decade or more — and feature inflation escalators. Alone, the MGP deal results in more than $1 billion in new rental income for VICI.<\/strong><\/p>\nAdditionally, VICI remains acquisitive, maintaining a knack for deals large and small. Last month, the company said it is buying the property assets of the Rocky Gap Casino Resort in Flinstone, Md. from Golden Entertainment (NASDAQ: GDEN) for $204 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"VICI Properties (NYSE: VICI), the largest casino landlord in the US, said today it is raising its quarterly to 39 cents a share, an 8.3% increase from current levels. The move elevates the Caesar Palace owner\u2019s annual payout to $1.56 a share from $1.44. The gaming real estate investment trust (REIT) yields 4.31%, or more […]<\/p>\n","protected":false},"author":46,"featured_media":231036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81903,81898],"acf":[],"yoast_head":"\n
VICI Properties Is Raising Its Dividend By More Than 8%<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n