Photo: Julian Paefgen / Unsplash. Illustrative stock photograph; not a property or company discussed in this article. The biggest landlord on the Las Vegas Strip just set money aside for its own biggest tenant. Vici Properties recorded $458 million in expected credit losses in the third quarter, according to Commercial Observer. Of that, $331 million is tied to its lease with Caesars Entertainment, which runs through 2055. The charge pulled down Vici’s headline results. Funds from operations for common stockholders…
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Vici Just Set Aside $331 Million for Its Caesars Lease. The Strip’s Biggest Landlord Is Planning for New Terms.
Vici records a Caesars lease credit-loss allowance as it weighs potential changes, while rent payments continue and adjusted earnings guidance rises.
