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VICI

VICI Properties

$20.60

0.07 (0.34%)

, PENN

Penn National

$33.25

0.19 (0.57%)

07:02
06/19/18
06/19
07:02
06/19/18
07:02

VICI to buy real estate assets of Margaritaville Resort Casino for approx. $261M

VICI Properties (VICI) announced that it has entered into definitive agreements pursuant to which VICI will acquire the land and real estate assets of the Margaritaville Resort Casino, located in Bossier City, Louisiana, for approximately $261M in cash, and Penn National Gaming (PENN) will acquire the operating assets of the Margaritaville Resort Casino for approximately $115M in cash. The aggregate purchase price payable in connection with the acquisition of the real property and operations of the Margaritaville Resort Casino is approximately $376M in cash. Simultaneous with the closing of this transaction, Penn National will enter into a triple-net lease agreement with the company. The lease will have an initial total annual rent of approximately $23M and an initial term of 15 years, with four 5-year renewal options. The rent coverage ratio in the first year after closing is expected to be 1.9x and the Tenant's obligations under the lease will be guaranteed by Penn National. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the second half of 2018. Dependent on timing of closing, the company expects to fund the purchase with cash on its balance sheet, or with a combination of cash and draws upon its credit facility.

VICI

VICI Properties

$20.60

0.07 (0.34%)

PENN

Penn National

$33.25

0.19 (0.57%)

  • 31

    Jul

VICI VICI Properties
$20.60

0.07 (0.34%)

05/17/18
DBAB
05/17/18
INITIATION
Target $22
DBAB
Buy
VICI Properties initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Carlo Santarelli started VICI Properties with a Buy rating and $22 price target. The company offers "embedded growth at a compelling relative valuation," Santarelli tells investors in a research note.
03/27/18
UGAM
03/27/18
INITIATION
Target $23
UGAM
Buy
VICI Properties initiated with a Buy at Union Gaming
Union Gaming initiated VICI Properties with a Buy and $23 price target.
02/26/18
02/26/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Walmart (WMT) initiated with a Neutral and Target (TGT) initiated with an Outperform at Credit Suisse. 2. Hudson (HUD) initiated with a Buy at Goldman Sachs, a Buy at UBS, an Equal Weight at Morgan Stanley and an Outperform at Credit Suisse. 3. VICI Properties (VICI) initiated with a Buy at Stifel, a Neutral at Goldman Sachs and an Equal Weight at Barclays. 4. Sage Therapeutics (SAGE) initiated with an Overweight at Morgan Stanley. 5. Sol-Gel Technologies (SLGL) initiated with a Buy at Jefferies and an Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/26/18
MSCO
02/26/18
INITIATION
Target $21
MSCO
Equal Weight
VICI Properties initiated with an Equal Weight at Morgan Stanley (pre-open)
Morgan Stanley analyst Thomas Allen started VICI Properties with an Equal Weight rating and $21 price target.
PENN Penn National
$33.25

0.19 (0.57%)

06/08/18
06/08/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Outperform from Market Perform at Bernstein with analyst Bob Brackett saying the company's "stalwart global portfolio" and Brent pricing helps insulate it from Permian congestion impacting other E&Ps. 2. DexCom (DXCM) upgraded to Overweight from Neutral at JPMorgan with analyst Robbie Marcus saying glucose measurement is becoming an essential tool for patients and DexCom, with the launch of the G6, is the "clear market leader" from a technological standpoint. 3. Penn National (PENN) reinstated with an Overweight from Neutral at JPMorgan with analyst Joseph Gref saying he sees a favorable setup for the shares given an "attractive regional gaming landscape" and the company's margin improvement initiatives. 4. Marathon Oil (MRO) upgraded to Buy from Hold at Tudor Pickering. 5. Quest Diagnostics (DGX) upgraded to Outperform from Market Perform at William Blair with analyst Amanda Murphy citing the recent UnitedHealthcare (UNH) contract change and positive secular trends for larger labs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/18
JPMS
06/08/18
UPGRADE
Target $40
JPMS
Overweight
Penn National reinstated with an Overweight from Neutral at JPMorgan
JPMorgan analyst Joseph Gref upgraded Penn National Gaming to Overweight from Neutral and raised his price target for the shares to $40 from $26 following a period of restriction. The analyst sees a favorable setup for the shares given an "attractive regional gaming landscape" and the company's margin improvement initiatives. He "reasonably" sees adjusted EBITDAR margins expanding into the low 30%s from 2017's 27.9%.
05/15/18
BOFA
05/15/18
NO CHANGE
BOFA
Supreme Court ruling on sports betting positive for regionals, game tech, says BofA/Merrill
BofA/Merrill analyst Shaun Kelley notes that the Supreme Court ruled 6-3 to repeal the Professional and Amateur Sports Protection Act, which had effectively banned full sports betting in every state except Nevada. While the analyst expects operator margins to be low, he sees upside for all of regional gaming, while gaming tech could be a key beneficiary. Reflecting sports betting in higher multiples, Kelley raised his price targets for Boyd Gaming (BYD) to $45 from $42, Penn National (PENN) to $36 from $32, Scientific Games (SGMS) to $70 from $60, and International Game (IGT) to $36 from $34.
05/14/18
JEFF
05/14/18
NO CHANGE
JEFF
Jefferies says Penn National, Caesars among winners from sports gaming ruling
After the Supreme Court ruled that the PASPA provision prohibiting state authorization of organized sports gambling violates the tenth amendment, Jefferies analyst David Katz reiterated his view on which companies are positioned to be key beneficiaries of the decision. He continues to identify Penn National (PENN) and Caesars (CSR) as among the top winners in terms of casino operators, followed by Eldorado Resorts (ERI), Churchill Downs (CHDN), Boyd Gaming (BYD), Monarch Casino (MCRI), and MGM Resorts (MGM). He also sees "location-agnostic" suppliers Scientific Games (SGMS) and International Game (IGT) as winners, Katz tells investors.

TODAY'S FREE FLY STORIES

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WIN

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BF.A

Brown-Forman, also tag with BFA, BFB

$49.12

0.73 (1.51%)

, LVS

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$61.50

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KLAC

KLA-Tencor

$114.50

1.55 (1.37%)

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AMAT

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NXP Semiconductors

$94.49

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AVGO

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Marvell

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MU

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Qualcomm

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ETFC

E-Trade

$48.89

0.65 (1.35%)

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CAT

Caterpillar

$138.77

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, XRX

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$31.50

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AT&T

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Nokia

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AIMT

Aimmune

$23.70

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, AZN

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AZN

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TEVA

Teva

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NVS

Novartis

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DNA

Bought by RHHBY

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REGN

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SNY

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ALK

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KALV

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OPTN

Optinose

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ETFC

E-Trade

$48.89

0.65 (1.35%)

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TEX

Terex

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-0.3 (-0.84%)

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CZR

Caesars

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ERJ

Embraer

$20.85

0.17 (0.82%)

, BA

Boeing

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$20.85

0.17 (0.82%)

BA

Boeing

$424.05

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BXG

Bluegreen Vacations

$14.47

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SM

SM Energy

$16.88

-0.13 (-0.76%)

17:57
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AN

AutoNation

$37.22

-1.15 (-3.00%)

17:47
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TSLA

Tesla

$294.60

3.42 (1.17%)

, NSANY

Nissan

$0.00

(0.00%)

17:42
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TSLA

Tesla

$294.60

3.42 (1.17%)

NSANY

Nissan

$0.00

(0.00%)

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FSFG

First Savings Financial Group

$51.33

0.22 (0.43%)

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MSFT

Microsoft

$110.97

1.5 (1.37%)

17:31
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ENT

Global Eagle

$2.66

(0.00%)

17:23
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17:23
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Global Eagle to cut workforce by roughly 15% »

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17:15
02/22/19
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17:15
02/22/19
17:15
General news
Breaking General news story  »

New York Federal Reserve…

NOC

Northrop Grumman

$288.84

2.54 (0.89%)

17:13
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17:13
Hot Stocks
Northrop Grumman exec Kalan sells 4,312 common shares »

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LYB

LyondellBasell

$89.14

0.63 (0.71%)

17:07
02/22/19
02/22
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17:07
Syndicate
Breaking Syndicate news story on LyondellBasell »

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TCCO

Technical Comm Corp

$2.76

0.17 (6.56%)

17:06
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17:06
Hot Stocks
Technical Comm Corp to submit plan to regain compliance with Nasdaq by March 4 »

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