VICI Properties Inc


VICI

Price

29.79


Change

0.04


High

29.94


Low

29.625


Avg Volume

6,881,955


PE Ratio

12.06


52 Week High

32.28


52 Week Low

25.9



Profile

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.


Top Streaming News


Quotes delayed 15 minutes for NASDAQ, and 20 minutes for NYSE and AMEX.

Data provided by IEX Cloud

About

Copyright © 2020 Finaza.IO. All Rights Reserved.