Private equity behemoth Blackstone (NYSE: BX) has agreed to sell its interests in two casino properties to VICI Properties (NYSE: VICI), a real estate investment trust (REIT) focused on experiential properties. The transaction will boost VICI's cash flow, supporting its ability to sustain and expand its 4.6%-yielding dividend.

Meanwhile, it will provide Blackstone's non-traded REIT, BREIT, with a cash infusion that it can use to continue expanding in its highest growth areas. That growth should eventually flow down to Blackstone to help support its 5.9%-yielding payout. 

The deal could make both stocks more appealing long-term investments for income-seeking investors.

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Source Fool.com