VICI Properties Inc. Announces First Quarter 2024 Results
VICI Properties Inc. reported significant growth in the first quarter of 2024, with 8.4% year-over-year revenue increase, $1.05 billion investment grade senior notes offering, and capital investment in the Venetian Resort. The company reaffirmed guidance for full year 2024, with strong financial highlights including revenue growth, increased net income, AFFO, and successful capital management efforts. CEO Edward Pitoniak expressed satisfaction and highlighted strategic investments in youth sports, debt and equity markets, as well as commitment to enhancing guest experience at The Venetian Resort.
8.4% year-over-year revenue growth in the first quarter of 2024.
$1.05 billion investment grade senior notes offering for refinancing debt.
Capital investment in the Venetian Resort through the Partner Property Growth Fund.
Reaffirmed guidance for full year 2024 with strong financial performance.
Increased net income attributable to common stockholders by 13.7% year-over-year.
Improved AFFO by 10.3% year-over-year.
Successful access to debt and equity markets despite market volatility.
Strong liquidity position with $1.2 billion of cash and $2.3 billion of undrawn revolver capacity by quarter end.
Commitment to extensive reinvestment at The Venetian Resort with up to $700 million investment.
No negative aspects to report based on the provided press release information.
Insights
An examination of VICI Properties Inc.'s first quarter 2024 results reveals several noteworthy financial achievements that could influence an investor's perspective on the company's performance and future prospects. The reported 8.4% year-over-year revenue growth demonstrates a robust expansion in operations, signifying the company's ability to generate increased revenue streams in what could be perceived as a challenging economic landscape.
Most striking is the 13.7% increase in net income attributable to common stockholders, which, when distilled to a per share basis, reflects a 9.4% year-over-year increase. This is a strong indicator of the company's growing profitability and operational efficiency. The increase in Adjusted Funds from Operations (AFFO) by 10.3% adds another layer of positive news for investors, as AFFO is a key metric in real estate investment trusts (REITs) to assess a company's operational cash flow and its ability to sustain dividend payouts.
Furthermore, VICI's capital management strategies, including the completion of a
For the retail investor, the reaffirmation of full-year 2024 AFFO guidance provides a semblance of predictability and confidence in the company's outlook. However, one should consider the broader economic context, including interest rate trends and real estate market dynamics, which could impact future performance.
The strategic move by VICI Properties Inc. to invest up to
The market for experiential real estate, particularly in a high-profile location like Las Vegas, typically enjoys resilient demand, potentially insulating the investment from broader market downturns. The company's diversification into sports and recreation through the Homefield Kansas City transaction also highlights an adaptive strategy that could appeal to a wider demographic and provide alternate revenue sources.
Investors should note the potential for increased earnings as The Venetian Resort's extensive reinvestment projects are expected to elevate the guest experience and drive economic profitability. The forward-looking nature of VICI's growth fund strategy could be a compelling point for investors seeking companies with a proactive approach to capital deployment.
- Reports
- Completes
- Announced Capital Investment in the Venetian Resort through the Partner Property Growth Fund -
- Reaffirms Guidance for Full Year 2024 -
First Quarter 2024 Financial and Operating Highlights
-
Total revenues increased
8.4% year-over-year to$951.5 million -
Net income attributable to common stockholders increased
13.7% year-over-year to$590.0 million 9.4% year-over-year to$0.57 -
AFFO attributable to common stockholders increased
10.3% year-over-year to$583.2 million 6.1% year-over-year to$0.56 -
Announced an agreement to provide an up to
$105.0 million Kansas City, Kansas , and entered into a call right agreement that provides the Company with a call option on the Margaritaville Resort, two new Homefield youth sport facilities, and the existing Homefield youth sport complex inOlathe, Kansas -
Issued
$1.05 billion -
Raised
$305.5 million -
Ended the quarter with
$514.9 million $682.7 million -
Subsequent to quarter end, announced an up to
$700 million
CEO Comments
Edward Pitoniak, Chief Executive Officer of VICI Properties, said, “We’re pleased and proud to report that in the first quarter of 2024, we increased our quarterly revenue by approximately
“Subsequent to quarter end, we have committed to increasing our investment in The Venetian Resort through an agreement to provide up to
First Quarter 2024 Financial Results
Total Revenues
Total revenues were
Net Income Attributable to Common Stockholders
Net income attributable to common stockholders was
Funds from Operations (“FFO”)
FFO attributable to common stockholders was
Adjusted Funds from Operations (“AFFO”)
AFFO attributable to common stockholders was
First Quarter 2024 Acquisitions and Portfolio Activity
Acquisitions and Investments
On January 23, 2024, the Company announced that it had entered into a construction loan agreement for up to
Subsequent to quarter end, on May 1, 2024, the Company announced that it will provide up to
First Quarter 2024 Capital Markets Activity
On March 18, 2024, VICI Properties L.P., a subsidiary of the Company, issued
From March 2023 through March 2024, the Company entered into seven forward-starting interest rate swap agreements having an aggregate notional amount of
During the three months ended March 31, 2024, the Company sold a total of 9,662,116 shares under its ATM program at a weighted average price per share of
The following table details the issuance of outstanding shares of common stock, including restricted common stock:
|
|
Three Months Ended March 31, |
||
Common Stock Outstanding |
|
2024 |
|
2023 |
Beginning Balance January 1, |
|
1,042,702,763 |
|
963,096,563 |
Issuance of common stock upon physical settlement of forward sale agreements |
|
— |
|
40,592,592 |
Issuance of restricted and unrestricted common stock under the stock incentive program, net of forfeitures |
|
434,268 |
|
515,763 |
Ending Balance March 31, |
|
1,043,137,031 |
|
1,004,204,918 |
The following table reconciles the weighted-average shares of common stock outstanding used in the calculation of basic earnings per share to the weighted-average shares of common stock outstanding used in the calculation of diluted earnings per share:
|
Three Months Ended March 31, |
||
(in thousands) |
2024 |
|
2023 |
Determination of shares: |
|
|
|
Weighted-average shares of common stock outstanding |
1,042,405 |
|
1,001,527 |
Assumed conversion of restricted stock |
412 |
|
1,073 |
Assumed settlement of forward sale agreements |
495 |
|
1,232 |
Diluted weighted-average shares of common stock outstanding |
1,043,312 |
|
1,003,831 |
Balance Sheet and Liquidity
As of March 31, 2024, the Company had approximately
The Company’s outstanding indebtedness as of March 31, 2024 was as follows:
($ in millions USD) |
March 31, 2024 |
|
Revolving Credit Facility |
|
|
USD Borrowings |
$ |
— |
CAD Borrowings(1) |
|
158.8 |
GBP Borrowings(1) |
|
11.4 |
|
|
750.0 |
|
|
500.0 |
|
|
800.0 |
|
|
500.0 |
|
|
1,250.0 |
|
|
750.0 |
|
|
750.0 |
|
|
350.0 |
|
|
1,250.0 |
|
|
750.0 |
|
|
1,000.0 |
|
|
1,000.0 |
|
|
1,000.0 |
|
|
1,500.0 |
|
|
550.0 |
|
|
750.0 |
|
|
500.0 |
Total Unsecured Debt Outstanding |
$ |
14,120.2 |
MGM Grand/Mandalay Bay CMBS Debt Due 2032 |
$ |
3,000.0 |
Total Debt Outstanding |
$ |
17,120.2 |
Cash, Cash Equivalents and Short-Term Investments |
$ |
514.9 |
Net Debt |
$ |
16,605.3 |
___________________
|
||
Dividends
On March 7, 2024, the Company declared a regular quarterly cash dividend of
2024 Guidance
The Company is reaffirming AFFO guidance for the full year 2024. In determining AFFO, the Company adjusts for certain items that are otherwise included in determining net income attributable to common stockholders, the most comparable generally accepted accounting principles in
The Company estimates AFFO for the year ending December 31, 2024 will be between
The following is a summary of the Company’s full-year 2024 guidance:
For the Year Ending December 31, 2024 ($ in millions): |
|
Low |
|
High |
Estimated Adjusted Funds From Operations (AFFO) |
|
|
|
|
Estimated Adjusted Funds From Operations (AFFO) per diluted share |
|
|
|
|
Estimated Weighted Average Share Count for the Year (in millions) |
|
1,046.0 |
|
1,046.0 |
The above per share estimates reflect the dilutive effect of the 22,856,855 shares pending under the Company's outstanding forward sale agreements as calculated under the treasury stock method. VICI partnership units held by third parties are reflected as non-controlling interests and the income allocable to them is deducted from net income to arrive at net income attributable to common stockholders and AFFO; accordingly, guidance represents AFFO per share attributable to common stockholders based solely on outstanding shares of VICI common stock.
The estimates set forth above reflect management’s view of current and future market conditions, including assumptions with respect to the earnings impact of the events referenced in this release. The estimates set forth above may be subject to fluctuations as a result of several factors and there can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above.
Supplemental Information
In addition to this release, the Company has furnished Supplemental Financial Information, which is available on our website in the “Investors” section, under the menu heading “Financials”. This additional information is being provided as a supplement to the information in this release and our other filings with the SEC. The Company has no obligation to update any of the information provided to conform to actual results or changes in the Company’s portfolio, capital structure or future expectations, except as may be required by applicable law.
Conference Call and Webcast
The Company will host a conference call and audio webcast on Thursday, May 2, 2024 at 10:00 a.m. Eastern Time (ET). The conference call can be accessed by dialing +1 833-470-1428 (domestic) or +1 929-526-1599 (international) and entering the conference ID 260548. An audio replay of the conference call will be available from 1:00 p.m. ET on May 2, 2024 until midnight ET on May 9, 2024 and can be accessed by dialing +1 866-813-9403 (domestic) or +44 204-525-0658 (international) and entering the passcode 949359.
A live audio webcast of the conference call will be available in listen-only mode through the “Investors” section of the Company’s website, www.viciproperties.com, on May 2, 2024, beginning at 10:00 a.m. ET. A replay of the webcast will be available shortly after the call on the Company’s website and will continue for one year.
About VICI Properties
VICI Properties Inc. is an S&P 500® 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 owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance, or achievements. Among those risks, uncertainties and other factors are: the impact of changes in general economic conditions and market developments, including inflation, interest rates, supply chain disruptions, consumer confidence levels, changes in consumer spending, unemployment levels and depressed real estate prices resulting from the severity and duration of any downturn in the
Although the Company believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. The Company cannot assure you that the assumptions upon which these statements are based will prove to have been correct. Additional important factors that may affect the Company’s business, results of operations and financial position are described from time to time in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and the Company’s other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
Non-GAAP Financial Measures
This press release presents Funds From Operations (“FFO”), FFO per share, Adjusted Funds From Operations (“AFFO”), AFFO per share and Adjusted EBITDA, which are not required by, or presented in accordance with, generally accepted accounting principles in
FFO is a non-GAAP financial measure that is considered a supplemental measure for the real estate industry and a supplement to GAAP measures. Consistent with the definition used by The National Association of Real Estate Investment Trusts (Nareit), we define FFO as net income (or loss) attributable to common stockholders (computed in accordance with GAAP) excluding (i) gains (or losses) from sales of certain real estate assets, (ii) depreciation and amortization related to real estate, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) our proportionate share of such adjustments from our investment in unconsolidated affiliate.
AFFO is a non-GAAP financial measure that we use as a supplemental operating measure to evaluate our performance. We calculate AFFO by adding or subtracting from FFO non-cash leasing and financing adjustments, non-cash change in allowance for credit losses, non-cash stock-based compensation expense, transaction costs incurred in connection with the acquisition of real estate investments, amortization of debt issuance costs and original issue discount, other non-cash interest expense, non-real estate depreciation (which is comprised of the depreciation related to our golf course operations), capital expenditures (which are comprised of additions to property, plant and equipment related to our golf course operations), impairment charges related to non-depreciable real estate, gains (or losses) on debt extinguishment and interest rate swap settlements, other losses (gains), deferred income tax benefits and expenses, other non-recurring non-cash transactions, our proportionate share of non-cash adjustments from our investment in unconsolidated affiliate (including the amortization of any basis differences) with respect to certain of the foregoing and non-cash adjustments attributable to non-controlling interest with respect to certain of the foregoing.
We calculate Adjusted EBITDA by adding or subtracting from AFFO contractual interest expense (including the impact of the forward-starting interest rate swaps and treasury locks) and interest income (collectively, interest expense, net), income tax expense and our proportionate share of such adjustments from our investment in unconsolidated affiliate.
These non-GAAP financial measures: (i) do not represent cash flow from operations as defined by GAAP; (ii) should not be considered as an alternative to net income as a measure of operating performance or to cash flows from operating, investing and financing activities; and (iii) are not alternatives to cash flow as a measure of liquidity. In addition, these measures should not be viewed as measures of liquidity, nor do they measure our ability to fund all of our cash needs, including our ability to make cash distributions to our stockholders, to fund capital improvements, or to make interest payments on our indebtedness. Investors are also cautioned that FFO, FFO per share, AFFO, AFFO per share and Adjusted EBITDA, as presented, may not be comparable to similarly titled measures reported by other real estate companies, including REITs, due to the fact that not all real estate companies use the same definitions. Our presentation of these measures does not replace the presentation of our financial results in accordance with GAAP.
Reconciliations of net income to FFO, FFO per share, AFFO, AFFO per share and Adjusted EBITDA are included in this release.
VICI Properties Inc. Consolidated Balance Sheets (In thousands, except share and per share data) |
|||||
|
March 31, 2024 |
|
December 31, 2023 |
||
Assets |
|
|
|
||
Real estate portfolio: |
|
|
|
||
Investments in leases - sales-type, net |
$ |
22,985,837 |
|
$ |
23,015,931 |
Investments in leases - financing receivables, net |
|
18,266,712 |
|
|
18,211,102 |
Investments in loans and securities, net |
|
1,224,987 |
|
|
1,144,177 |
Land |
|
150,727 |
|
|
150,727 |
Cash and cash equivalents |
|
485,318 |
|
|
522,574 |
Short-term investments |
|
29,579 |
|
|
— |
Other assets |
|
1,014,713 |
|
|
1,015,330 |
Total assets |
$ |
44,157,873 |
|
$ |
44,059,841 |
|
|
|
|
||
Liabilities |
|
|
|
||
Debt, net |
$ |
16,711,739 |
|
$ |
16,724,125 |
Accrued expenses and deferred revenue |
|
186,556 |
|
|
227,241 |
Dividends and distributions payable |
|
437,766 |
|
|
437,599 |
Other liabilities |
|
1,003,254 |
|
|
1,013,102 |
Total liabilities |
|
18,339,315 |
|
|
18,402,067 |
|
|
|
|
||
Stockholders’ equity |
|
|
|
||
Common stock |
|
10,431 |
|
|
10,427 |
Preferred stock |
|
— |
|
|
— |
Additional paid-in capital |
|
24,124,875 |
|
|
24,125,872 |
Accumulated other comprehensive income |
|
156,640 |
|
|
153,870 |
Retained earnings |
|
1,122,878 |
|
|
965,762 |
Total VICI stockholders’ equity |
|
25,414,824 |
|
|
25,255,931 |
Non-controlling interests |
|
403,734 |
|
|
401,843 |
Total stockholders’ equity |
|
25,818,558 |
|
|
25,657,774 |
Total liabilities and stockholders’ equity |
$ |
44,157,873 |
|
$ |
44,059,841 |
_______________________________________________________
|
|||||
VICI Properties Inc. Consolidated Statement of Operations (In thousands, except share and per share data) |
|||||||
|
Three Months Ended March 31, |
||||||
|
2024 |
|
2023 |
||||
Revenues |
|
|
|
||||
Income from sales-type leases |
$ |
512,772 |
|
|
$ |
478,394 |
|
Income from lease financing receivables, loans and securities |
|
409,301 |
|
|
|
371,069 |
|
Other income |
|
19,312 |
|
|
|
18,339 |
|
Golf revenues |
|
10,096 |
|
|
|
9,845 |
|
Total revenues |
|
951,481 |
|
|
|
877,647 |
|
|
|
|
|
||||
Operating expenses |
|
|
|
||||
General and administrative |
|
16,192 |
|
|
|
15,005 |
|
Depreciation |
|
1,133 |
|
|
|
814 |
|
Other expenses |
|
19,312 |
|
|
|
18,339 |
|
Golf expenses |
|
6,511 |
|
|
|
5,952 |
|
Change in allowance for credit losses |
|
106,918 |
|
|
|
111,477 |
|
Transaction and acquisition expenses |
|
305 |
|
|
|
(958 |
) |
Total operating expenses |
|
150,371 |
|
|
|
150,629 |
|
|
|
|
|
||||
Income from unconsolidated affiliate |
|
— |
|
|
|
1,280 |
|
Interest expense |
|
(204,882 |
) |
|
|
(204,360 |
) |
Interest income |
|
5,293 |
|
|
|
3,047 |
|
Other (losses) gains |
|
(156 |
) |
|
|
1,963 |
|
Income before income taxes |
|
601,365 |
|
|
|
528,948 |
|
Provision for income taxes |
|
(1,562 |
) |
|
|
(1,087 |
) |
Net income |
|
599,803 |
|
|
|
527,861 |
|
Less: Net income attributable to non-controlling interests |
|
(9,787 |
) |
|
|
(9,121 |
) |
Net income attributable to common stockholders |
$ |
590,016 |
|
|
$ |
518,740 |
|
|
|
|
|
||||
Net income per common share |
|
|
|
||||
Basic |
$ |
0.57 |
|
|
$ |
0.52 |
|
Diluted |
$ |
0.57 |
|
|
$ |
0.52 |
|
|
|
|
|
||||
Weighted average number of common shares outstanding |
|
|
|||||
Basic |
|
1,042,404,634 |
|
|
|
1,001,526,645 |
|
Diluted |
|
1,043,311,636 |
|
|
|
1,003,831,325 |
|
VICI Properties Inc. Reconciliation of Net Income to FFO, FFO per Share, AFFO, AFFO per Share and Adjusted EBITDA (In thousands, except share and per share data) |
|||||||
Three Months Ended March 31, |
|||||||
|
2024 |
|
2023 |
||||
Net income attributable to common stockholders |
$ |
590,016 |
|
|
$ |
518,740 |
|
Real estate depreciation |
|
— |
|
|
|
— |
|
Joint venture depreciation and non-controlling interest adjustments |
|
— |
|
|
|
1,426 |
|
FFO attributable to common stockholders |
|
590,016 |
|
|
|
520,166 |
|
Non-cash leasing and financing adjustments |
|
(135,666 |
) |
|
|
(122,834 |
) |
Non-cash change in allowance for credit losses |
|
106,918 |
|
|
|
111,477 |
|
Non-cash stock-based compensation |
|
3,793 |
|
|
|
3,467 |
|
Transaction and acquisition expenses |
|
305 |
|
|
|
(958 |
) |
Amortization of debt issuance costs and original issue discount |
|
16,509 |
|
|
|
19,682 |
|
Other depreciation |
|
846 |
|
|
|
783 |
|
Capital expenditures |
|
(432 |
) |
|
|
(988 |
) |
Other losses (gains) (1) |
|
156 |
|
|
|
(1,963 |
) |
Deferred income tax provision |
|
435 |
|
|
|
— |
|
Joint venture non-cash adjustments and non-controlling interest adjustments |
|
291 |
|
|
|
(227 |
) |
AFFO attributable to common stockholders |
|
583,171 |
|
|
|
528,605 |
|
Interest expense, net |
|
183,080 |
|
|
|
181,631 |
|
Income tax expense |
|
1,127 |
|
|
|
1,087 |
|
Joint venture adjustments and non-controlling interest adjustments |
|
(2,128 |
) |
|
|
(1,021 |
) |
Adjusted EBITDA attributable to common stockholders |
$ |
765,250 |
|
|
$ |
710,302 |
|
|
|
|
|
||||
Net income per common share |
|
|
|
||||
Basic |
$ |
0.57 |
|
|
$ |
0.52 |
|
Diluted |
$ |
0.57 |
|
|
$ |
0.52 |
|
FFO per common share |
|
|
|
||||
Basic |
$ |
0.57 |
|
|
$ |
0.52 |
|
Diluted |
$ |
0.57 |
|
|
$ |
0.52 |
|
AFFO per common share |
|
|
|
||||
Basic |
$ |
0.56 |
|
|
$ |
0.53 |
|
Diluted |
$ |
0.56 |
|
|
$ |
0.53 |
|
Weighted average number of shares of common stock outstanding |
|||||||
Basic |
|
1,042,404,634 |
|
|
|
1,001,526,645 |
|
Diluted |
|
1,043,311,636 |
|
|
|
1,003,831,325 |
|
____________________
|
|||||||
VICI Properties Inc. Revenue Breakdown (In thousands) |
|||||||
|
Three Months Ended March 31, |
||||||
|
2024 |
|
2023 |
||||
Contractual revenue from sales-type leases |
|
|
|
||||
Caesars Regional Master Lease (excluding Harrah's NOLA, AC, and |
$ |
137,624 |
|
|
$ |
132,952 |
|
Caesars Las Vegas Master Lease |
|
117,305 |
|
|
|
113,619 |
|
MGM Grand/Mandalay Bay Lease |
|
77,984 |
|
|
|
69,922 |
|
The Venetian Resort Las Vegas Lease |
|
65,019 |
|
|
|
63,125 |
|
Greektown Lease |
|
13,213 |
|
|
|
12,830 |
|
Hard Rock Cincinnati Lease |
|
11,541 |
|
|
|
11,176 |
|
Southern Indiana Lease |
|
8,371 |
|
|
|
8,247 |
|
Century Master Lease (excluding Century Canadian Portfolio) |
|
10,971 |
|
|
|
6,865 |
|
Margaritaville Lease |
|
6,676 |
|
|
|
6,394 |
|
Income from sales-type leases non-cash adjustment (1) |
|
64,068 |
|
|
|
53,264 |
|
Income from sales-type leases |
|
512,772 |
|
|
|
478,394 |
|
|
|
|
|
||||
Contractual income from lease financing receivables |
|
|
|
||||
MGM Master Lease |
|
186,150 |
|
|
|
187,500 |
|
Harrah's NOLA, AC, and |
|
44,477 |
|
|
|
42,966 |
|
JACK Entertainment Master Lease |
|
17,685 |
|
|
|
17,423 |
|
Mirage Lease |
|
22,950 |
|
|
|
22,500 |
|
Gold Strike Lease |
|
10,733 |
|
|
|
5,000 |
|
Foundation Gaming Master Lease |
|
6,123 |
|
|
|
6,063 |
|
PURE Canadian Master Lease |
|
4,067 |
|
|
|
3,809 |
|
Century Canadian Portfolio |
|
3,206 |
|
|
|
— |
|
Bowlero Master Lease |
|
7,900 |
|
|
|
— |
|
Chelsea Piers Lease |
|
6,000 |
|
|
|
— |
|
Income from lease financing receivables non-cash adjustment (1) |
|
71,641 |
|
|
|
69,577 |
|
Income from lease financing receivables |
|
380,932 |
|
|
|
354,838 |
|
|
|
|
|
||||
Contractual interest income |
|
|
|
||||
Senior Secured Notes |
|
2,401 |
|
|
|
108 |
|
Senior Secured Loans |
|
7,849 |
|
|
|
10,264 |
|
Mezzanine Loans & Preferred Equity |
|
18,162 |
|
|
|
5,866 |
|
Income from loans non-cash adjustment (1) |
|
(43 |
) |
|
|
(7 |
) |
Income from loans |
|
28,369 |
|
|
|
16,231 |
|
Income from lease financing receivables and loans |
|
409,301 |
|
|
|
371,069 |
|
|
|
|
|
||||
Other income |
|
19,312 |
|
|
|
18,339 |
|
Golf revenues |
|
10,096 |
|
|
|
9,845 |
|
Total revenues |
$ |
951,481 |
|
|
$ |
877,647 |
|
____________________
|
|||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240501417022/en/
Investor Contacts:
Investors@viciproperties.com
(646) 949-4631
Or
David Kieske
EVP, Chief Financial Officer
DKieske@viciproperties.com
Moira McCloskey
SVP, Capital Markets
MMcCloskey@viciproperties.com
Source: VICI Properties Inc.
FAQ
What was the revenue growth percentage in the first quarter of 2024 for VICI Properties Inc.?
What was the purpose of the $1.05 billion investment grade senior notes offering by VICI Properties Inc.?
What was the capital investment made by VICI Properties Inc. through the Partner Property Growth Fund?
Who is the CEO of VICI Properties Inc.?
What was the total revenues for VICI Properties Inc. in the first quarter of 2024?
