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4. VICI Properties Inc. (NYSE:VICI)

Number of Hedge Fund Holders: 33

American-based VICI Properties Inc. (NYSE:VICI) is a real estate investment trust. It had been in the business of owning and acquiring casino, hospitality, and entertainment properties under long-term triple net leases.

The main segments that the company operates in are the real estate and golf course businesses. While there are multiple golf courses in the golf course business section, leased real property makes up the real property business segment.

In the second quarter of 2024, VICI Properties Inc. (NYSE:VICI) posted impressive financial results. With $957 million in revenue for the quarter, its revenue grew by 6.5% YoY. It also exceeded Wall Street projections by $3.32 million. At $741.3 million, net income attributable to common shareholders likewise increased by 7.3% year over year. Cash and cash equivalents available to the company at the end of the quarter totaled $347.2 million.

Strong cash flow is provided by solid, long-term contracts with significant casino operators like Caesars and MGM, which helps the company. Acknowledging the financial state of the casino industry, the firm gave Great Wolf Lodge a $250 million loan. This action fortifies its current alliance with the operator of a chain of hotels and indoor water parks. Furthermore, the VICI is growing its real estate holdings and financing alliances with well-known operators in a range of industries, such as Homefield, Bowlero, Cabot, Canyon Ranch, Chelsea Piers, and Kalahari Resorts. In addition, VICI Properties Inc. (NYSE:VICI) has 33 acres of undeveloped land close to the Las Vegas Strip and four championship golf courses.

Ken Griffin’s Citadel Investment Group is the largest shareholder in the company, with 10,447,154 shares worth $299.20 million.