Golden Entertainment Successfully Transitions to Private Family Ownership
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy VICI?
Source: PRnewswire
- Transaction Completion: Golden Entertainment successfully completed its transaction with VICI Properties on April 30, with shareholders receiving a $2.75 cash dividend and 0.902 shares of VICI stock per Golden share, marking the company's transition to private family ownership, which enhances its market flexibility and control.
- Asset Acquisition: VICI Properties acquired the real estate assets associated with seven of Golden Entertainment's casino resorts and entered into a triple-net lease with entities controlled by Sartini, providing VICI with a stable income stream while ensuring the continuity of Golden's operations.
- Legal Team Support: Greenberg Traurig represented Blake L. Sartini in this transaction, with a team of experienced attorneys showcasing their expertise in complex deals, further solidifying their position in the legal services market.
- Future Outlook: Golden Entertainment will continue to operate its full portfolio of casinos and taverns, and after transitioning to private ownership, it is expected to respond more flexibly to market changes, enhance customer experience, and drive long-term growth.
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Analyst Views on VICI
Wall Street analysts forecast VICI stock price to rise
12 Analyst Rating
7 Buy
5 Hold
0 Sell
Moderate Buy
Current: 28.580
Low
30.00
Averages
33.70
High
38.00
Current: 28.580
Low
30.00
Averages
33.70
High
38.00
About VICI
VICI Properties Inc. is a real estate investment trust (REIT). The Company is engaged in the business of owning and acquiring gaming, hospitality, wellness, entertainment and leisure destinations, subject to long-term triple net leases. The Company own 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas (the Venetian Resort). The portfolio comprises over 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by gaming, leisure and hospitality operators under long-term, triple-net lease agreements. The Company also owns four championship golf courses and approximately 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Golden Entertainment Transitions to Family-Owned Operation Successfully
- Successful Transaction: Golden Entertainment completed its transaction with VICI Properties on April 30, with shareholders receiving a $2.75 cash dividend and 0.902 shares of VICI stock per Golden share, marking a successful transition to a family-owned operation.
- Asset Acquisition: VICI Properties acquired the real estate assets associated with seven of Golden Entertainment's casino resorts and entered into a triple-net lease with entities controlled by Sartini, ensuring a stable income stream for the future.
- Continued Operations: Despite the privatization, Golden Entertainment will continue to operate its full portfolio of casinos and taverns, ensuring business continuity and competitive positioning in the market.
- Legal Team Support: Greenberg Traurig represented Sartini in this transaction, with a team of experienced attorneys demonstrating their expertise and industry influence in complex deals.
See More
Golden Entertainment Successfully Transitions to Private Family Ownership
- Transaction Completion: Golden Entertainment successfully completed its transaction with VICI Properties on April 30, with shareholders receiving a $2.75 cash dividend and 0.902 shares of VICI stock per Golden share, marking the company's transition to private family ownership, which enhances its market flexibility and control.
- Asset Acquisition: VICI Properties acquired the real estate assets associated with seven of Golden Entertainment's casino resorts and entered into a triple-net lease with entities controlled by Sartini, providing VICI with a stable income stream while ensuring the continuity of Golden's operations.
- Legal Team Support: Greenberg Traurig represented Blake L. Sartini in this transaction, with a team of experienced attorneys showcasing their expertise in complex deals, further solidifying their position in the legal services market.
- Future Outlook: Golden Entertainment will continue to operate its full portfolio of casinos and taverns, and after transitioning to private ownership, it is expected to respond more flexibly to market changes, enhance customer experience, and drive long-term growth.
See More
VICI Properties Q1 2026 Earnings Call Insights
- Capital Commitment Growth: VICI Properties achieved approximately $1.2 billion in new capital commitments in Q1 2026, marking the first two consecutive quarters of over $1 billion commitments, which enhances market confidence in its investment capabilities in experiential real estate.
- Strategic Loan Expansion: The company expanded its long-term strategic relationship with Cain and Eldridge Industries by providing a $1.5 billion mezzanine loan for the One Beverly Hills project, representing an incremental commitment beyond the previously announced $450 million investment, with phased delivery scheduled to commence in 2028, further solidifying its position in the high-end real estate market.
- Acquisition Progress: VICI announced the pending acquisition of four real estate assets in Alberta, Canada for $144 million at an 8% cap rate, linked to Pure Casino Entertainment's acquisition plans, demonstrating the company's proactive strategy in expanding its asset portfolio.
- AFFO Guidance Increase: The company raised its AFFO guidance for 2026 to between $2.665 billion and $2.695 billion, with expected per-share earnings between $2.44 and $2.47, reflecting strong cash flow and sound financial management, which boosts investor confidence in future growth.
See More
Real Estate Stocks Attract Investor Interest
- High Yield Appeal: The Vanguard Real Estate Index Fund ETF yields 3.66%, more than triple the S&P 500, attracting numerous investors seeking dividend income, highlighting the investment potential of real estate stocks.
- Strong GLPI Performance: Gaming and Leisure Properties (GLPI) reported adjusted funds from operations (AFFO) slightly exceeding Wall Street estimates and raised its 2026 guidance, indicating that its 6.59% dividend yield is not a yield trap and has growth potential.
- Liquidity Assurance: GLPI concluded the first quarter with $2.4 billion in liquidity, including $275 million in cash, and with spending unlikely to exceed $850 million this year, demonstrating financial stability and reducing the need for capital market financing.
- Regional Market Advantage: GLPI's management prefers the relative stability of regional markets, and while it owns some Las Vegas assets, it is not rushing to expand in that area, reflecting cautious management of investor capital and strategic thinking for long-term growth.
See More
Gaming and Leisure Properties Raises 2026 Guidance Amid Strong Performance
- 2026 Guidance Raised: Gaming and Leisure Properties raised its 2026 guidance following first-quarter results that slightly exceeded Wall Street estimates, indicating strong financial health and potential for increased shareholder returns.
- Attractive Dividend Yield: With a dividend yield of 6.59%, significantly higher than the Vanguard Real Estate Index Fund's 3.66%, this REIT appeals to income-seeking investors, underscoring its competitive position in the real estate dividend stock sector.
- Robust Balance Sheet: The company reported liquidity of $2.4 billion, including $275 million in cash, with expected spending not exceeding $850 million this year, indicating that Gaming and Leisure Properties is unlikely to seek additional debt through capital markets, thereby boosting investor confidence.
- Strong Tenant Performance: Penn Entertainment, the largest tenant of Gaming and Leisure Properties, also posted strong first-quarter results, confirming its ability to meet rent obligations and further solidifying the REIT's revenue base.
See More
Investment Potential Analysis of Vici and PepsiCo
- Vici's Market Performance: Vici Properties, a real estate investment trust, boasts a market cap of $30 billion with a current stock price of $28.61 and a dividend yield of 6.27%, significantly surpassing the S&P 500's 1.1%, highlighting its advantages in stable cash flows and high returns.
- Diversified Asset Base: Despite a 7.5% drop in visitor traffic in Las Vegas in 2025, Vici's assets are diversified across North America, mitigating excessive reliance on any single market, while its Bowlero bowling alley portfolio enhances its footprint outside the gambling sector.
- PepsiCo's Growth Potential: PepsiCo's net revenue surged 8.5% year-over-year in Q1 2023 to $19.44 billion, with operating profit soaring 24% to $3.21 billion, demonstrating robust performance in international markets despite concerns over GLP-1 weight-loss drugs.
- Dividend Growth Stability: PepsiCo has increased its dividend for 53 consecutive years; although its 3.7% yield is lower than that of the REIT sector, its characteristics as a consumer staple provide stability during economic downturns, bolstering investor confidence.
See More
Golden Entertainment Transitions to Family-Owned Operation Successfully
- Successful Transaction: Golden Entertainment completed its transaction with VICI Properties on April 30, with shareholders receiving a $2.75 cash dividend and 0.902 shares of VICI stock per Golden share, marking a successful transition to a family-owned operation.
- Asset Acquisition: VICI Properties acquired the real estate assets associated with seven of Golden Entertainment's casino resorts and entered into a triple-net lease with entities controlled by Sartini, ensuring a stable income stream for the future.
- Continued Operations: Despite the privatization, Golden Entertainment will continue to operate its full portfolio of casinos and taverns, ensuring business continuity and competitive positioning in the market.
- Legal Team Support: Greenberg Traurig represented Sartini in this transaction, with a team of experienced attorneys demonstrating their expertise and industry influence in complex deals.
See More
Golden Entertainment Successfully Transitions to Private Family Ownership
- Transaction Completion: Golden Entertainment successfully completed its transaction with VICI Properties on April 30, with shareholders receiving a $2.75 cash dividend and 0.902 shares of VICI stock per Golden share, marking the company's transition to private family ownership, which enhances its market flexibility and control.
- Asset Acquisition: VICI Properties acquired the real estate assets associated with seven of Golden Entertainment's casino resorts and entered into a triple-net lease with entities controlled by Sartini, providing VICI with a stable income stream while ensuring the continuity of Golden's operations.
- Legal Team Support: Greenberg Traurig represented Blake L. Sartini in this transaction, with a team of experienced attorneys showcasing their expertise in complex deals, further solidifying their position in the legal services market.
- Future Outlook: Golden Entertainment will continue to operate its full portfolio of casinos and taverns, and after transitioning to private ownership, it is expected to respond more flexibly to market changes, enhance customer experience, and drive long-term growth.
See More
VICI Properties Q1 2026 Earnings Call Insights
- Capital Commitment Growth: VICI Properties achieved approximately $1.2 billion in new capital commitments in Q1 2026, marking the first two consecutive quarters of over $1 billion commitments, which enhances market confidence in its investment capabilities in experiential real estate.
- Strategic Loan Expansion: The company expanded its long-term strategic relationship with Cain and Eldridge Industries by providing a $1.5 billion mezzanine loan for the One Beverly Hills project, representing an incremental commitment beyond the previously announced $450 million investment, with phased delivery scheduled to commence in 2028, further solidifying its position in the high-end real estate market.
- Acquisition Progress: VICI announced the pending acquisition of four real estate assets in Alberta, Canada for $144 million at an 8% cap rate, linked to Pure Casino Entertainment's acquisition plans, demonstrating the company's proactive strategy in expanding its asset portfolio.
- AFFO Guidance Increase: The company raised its AFFO guidance for 2026 to between $2.665 billion and $2.695 billion, with expected per-share earnings between $2.44 and $2.47, reflecting strong cash flow and sound financial management, which boosts investor confidence in future growth.
See More
Real Estate Stocks Attract Investor Interest
- High Yield Appeal: The Vanguard Real Estate Index Fund ETF yields 3.66%, more than triple the S&P 500, attracting numerous investors seeking dividend income, highlighting the investment potential of real estate stocks.
- Strong GLPI Performance: Gaming and Leisure Properties (GLPI) reported adjusted funds from operations (AFFO) slightly exceeding Wall Street estimates and raised its 2026 guidance, indicating that its 6.59% dividend yield is not a yield trap and has growth potential.
- Liquidity Assurance: GLPI concluded the first quarter with $2.4 billion in liquidity, including $275 million in cash, and with spending unlikely to exceed $850 million this year, demonstrating financial stability and reducing the need for capital market financing.
- Regional Market Advantage: GLPI's management prefers the relative stability of regional markets, and while it owns some Las Vegas assets, it is not rushing to expand in that area, reflecting cautious management of investor capital and strategic thinking for long-term growth.
See More
Gaming and Leisure Properties Raises 2026 Guidance Amid Strong Performance
- 2026 Guidance Raised: Gaming and Leisure Properties raised its 2026 guidance following first-quarter results that slightly exceeded Wall Street estimates, indicating strong financial health and potential for increased shareholder returns.
- Attractive Dividend Yield: With a dividend yield of 6.59%, significantly higher than the Vanguard Real Estate Index Fund's 3.66%, this REIT appeals to income-seeking investors, underscoring its competitive position in the real estate dividend stock sector.
- Robust Balance Sheet: The company reported liquidity of $2.4 billion, including $275 million in cash, with expected spending not exceeding $850 million this year, indicating that Gaming and Leisure Properties is unlikely to seek additional debt through capital markets, thereby boosting investor confidence.
- Strong Tenant Performance: Penn Entertainment, the largest tenant of Gaming and Leisure Properties, also posted strong first-quarter results, confirming its ability to meet rent obligations and further solidifying the REIT's revenue base.
See More
Investment Potential Analysis of Vici and PepsiCo
- Vici's Market Performance: Vici Properties, a real estate investment trust, boasts a market cap of $30 billion with a current stock price of $28.61 and a dividend yield of 6.27%, significantly surpassing the S&P 500's 1.1%, highlighting its advantages in stable cash flows and high returns.
- Diversified Asset Base: Despite a 7.5% drop in visitor traffic in Las Vegas in 2025, Vici's assets are diversified across North America, mitigating excessive reliance on any single market, while its Bowlero bowling alley portfolio enhances its footprint outside the gambling sector.
- PepsiCo's Growth Potential: PepsiCo's net revenue surged 8.5% year-over-year in Q1 2023 to $19.44 billion, with operating profit soaring 24% to $3.21 billion, demonstrating robust performance in international markets despite concerns over GLP-1 weight-loss drugs.
- Dividend Growth Stability: PepsiCo has increased its dividend for 53 consecutive years; although its 3.7% yield is lower than that of the REIT sector, its characteristics as a consumer staple provide stability during economic downturns, bolstering investor confidence.
See More
