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Fly News Breaks for December 20, 2019
VICI, GLPI
Dec 20, 2019 | 07:14 EDT
Melius Research analyst Daniel Adam believes a deal between Gaming and Leisure Properties (GLPI) and VICI Properties (VICI) could make sense. Vici currently trades at around 14.9 times estimated 2020 adjusted funds from operations, or over two turns higher than Gaming and Leisure's 12.1 times multiple, so a deal at current prices would be accretive, Adam tells investors in a research note. From an accretion standpoint, the analyst estimates VICI could, but likely would not, pay up to $52 per share for Gaming and Leisure before a deal would be dilutive.
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