IPO Date: February 1, 2018, under the ticker VICI.
BackgroundVICI Properties is a real estate investment trust (REIT) focused on casino, gaming, hospitality, entertainment, and leisure properties (often under triple-net leases). It was formed on October 6, 2017, as a spin-off from Caesars Entertainment Operating Company (CEOC) during its Chapter 11 bankruptcy reorganization. The company started with a portfolio including iconic assets like Caesars Palace Las Vegas.
It rejected an acquisition offer from MGM Growth Properties and proceeded with the IPO. Proceeds were primarily used to pay down debt.
VICI has since grown significantly through acquisitions (e.g., Venetian-related assets) and is now an S&P 500 component with a large portfolio of experiential real estate assets.
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