VICI Dividend Growth & Investment Grade Ratings
AN OPPORTUNITY TO UNLOCK INDEX INCLUSION FOR MGP'S SHARES
49MM SHARES OF ILLUSTRATIVE INDEX DEMAND FOLLOWING MGP ACQUISITION CLOSING (1)
Corporate Structure
S&P 500
CRSP
Russell 1000
RMZ
FTSE NAREIT
Dow Jones U.S. Real Estate
Dow Jones Select REIT
VICI
Corporation
Eligible, not included
MGM GROWTH
PROPERTIES"
LLC
Excludes LLCs
Excludes LLCs
X
Excludes LLCs
X
Excludes LLCs
X
Excludes LLCs
X
Excludes LLCs
.
Due to MGP's LLC structure, it currently
is not eligible for a number of indices in
which VICI is currently included
⚫ With the closing of the MGP acquisition,
anticipated index rebalancing is expected
to drive demand
VICI
Eligible, not included
4Q'21 OWNERSHIP ANALYSIS (2)
% Index Ownership
30%
VICI
7%
MGM GROWTH
PROPERTIES"
(1) Based on 214mm VICI shares issued in stock for stock transaction, assuming 157mm MGP shares outstanding as of February 14, 2022 (FY'21 Reference Date) and an exchange ratio of 1.366. Index shares demand as the product
between 214mm VICI shares and the difference between VICI and MGP % index ownership (30 % -7%) (2) Percent index ownership calculated by the division of shares held by index funds and total shares outstanding as of FY'21
(VICI shares of common stock; excludes shares issued on a forward basis and MGP = Class A common shares).
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