VICI's Strategic Diversification And GLPI's Future Acquisitions: Goldman Sachs Weighs Investor Sentiments
Portfolio Pulse from Lekha Gupta
Goldman Sachs analyst Caitlin Burrows provided investor feedback on VICI Properties Inc's diversification strategy and Gaming and Leisure Properties Inc's future acquisitions. VICI's recent $432.9 million sale-leaseback deal with Bowlero Corp was seen positively due to Bowlero's strength and the potential for more acquisitions. VICI's non-gaming exposure is expected to grow, with an 11.6% AFFOPS growth projected for 2023. GLPI, however, has limited visibility into future acquisitions. VICI is rated as Buy and GLPI as Neutral by Goldman Sachs. VICI's stock saw a slight decrease, while GLPI's stock increased.
December 22, 2023 | 7:00 pm
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POSITIVE IMPACT
Bowlero Corp's sale-leaseback deal with VICI is seen as a positive move, showcasing Bowlero as a strong operator with potential for more acquisitions.
The successful sale-leaseback transaction with VICI reflects positively on Bowlero's operational strength and growth prospects, which could positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
VICI's diversification strategy and recent Bowlero deal are viewed positively, with an expected AFFOPS growth of 11.6% in 2023. Goldman Sachs rates VICI as a Buy.
VICI's diversification into non-gaming sectors and the successful Bowlero transaction are likely to be seen as positive developments by investors, potentially leading to stock appreciation. The Buy rating by Goldman Sachs further supports a positive short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
GLPI has limited visibility into future acquisitions, leading to mixed investor sentiments. Goldman Sachs rates GLPI as Neutral.
The lack of clarity on future acquisitions for GLPI creates uncertainty, which may result in a neutral short-term impact on the stock. The Neutral rating by Goldman Sachs aligns with this sentiment.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70