VICI Properties Focus of Corporate Governance Case Study
06 Luglio 2022 - 10:15PM
Business Wire
VICI Properties Inc. (NYSE: VICI) (“VICI,” “VICI Properties” or
the “Company”), an experiential real estate investment trust, is
the focus of a case study recently published by the Corporate
Governance Research Initiative at the Stanford University Graduate
School of Business as part of the Stanford Closer Look Series.
The study can be found at
https://www.gsb.stanford.edu/faculty-research/publications/vici-properties-creating-value-ashes-caesars-demise.
The study’s authors state in their introduction that “VICI
Properties—a publicly traded REIT that emerged out of the
post-bankruptcy ashes of Caesars Entertainment—offers an
interesting example in which the eventual controllers of the assets
were able to design critical corporate governance features de novo
with the purposeful intention of creating a system that would add
significant value to their ownership securities. Through this
Closer Look, we can learn important lessons about how appropriate
governance choices can change the course of a corporation and
establish a foundation for long-term success. In particular, we
will focus on the role governance can play in creating stakeholder
trust…”
VICI Board of Directors Chair, James Abrahamson, said of the
case study, “We believe this case study is a fair and full
depiction of the governance values and principles that we put into
practice when we founded VICI in 2017 and have further enhanced
with a continued focus on the role governance plays in the success
of our company. VICI’s commitment to governance quality is
reflected in our currently standing fourth in Green Street’s REIT
governance quality rankings of all evaluated American REITs.”
Samantha Sacks Gallagher, Executive Vice President and General
Counsel, added, “Governance rigor and quality is a key reason, we
believe, that VICI has achieved the investor support that has been
so vital to our growth in scale and institutional quality, as
dramatized by our taking less than 5 years to migrate from
emergence to investment-grade credit status and, moreover, S&P
500 inclusion. Indeed, VICI recently became the first REIT ever to
achieve S&P 500 inclusion in under five years from IPO.
Establishing trust in VICI’s governance early on has been integral
to developing investor trust in VICI.”
About VICI Properties
VICI Properties Inc. is an experiential real estate investment
trust that owns one of the largest portfolios of market-leading
gaming, hospitality and entertainment destinations, including
Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las
Vegas, three of the most iconic entertainment facilities on the Las
Vegas Strip. VICI Properties’ national, geographically diverse
portfolio consists of 43 gaming facilities comprising over 122
million square feet and features approximately 58,700 hotel rooms
and more than 450 restaurants, bars, nightclubs and sportsbooks.
Its properties are leased to industry leading gaming and
hospitality operators, including Caesars Entertainment, Inc.,
Century Casinos, Inc., the Eastern Band of Cherokee Indians, Hard
Rock International Inc., JACK Entertainment LLC, MGM Resorts
International, Penn National Gaming, Inc., and The Venetian Las
Vegas. VICI Properties also has an investment in the Chelsea Piers,
New York facility and owns four championship golf courses and 34
acres of undeveloped and underdeveloped land adjacent to the Las
Vegas Strip. VICI Properties’ strategy is to create the nation’s
highest quality and most productive experiential real estate
portfolio. For additional information, please visit
www.viciproperties.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220706005733/en/
Investor Contacts:
Investors@viciproperties.com (646) 949-4631
Or
David Kieske EVP, Chief Financial Officer
DKieske@viciproperties.com
Danny Valoy Vice President, Acquisitions & Finance
DValoy@viciproperties.com
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