VICI Q1 revenue $416.6M (+11.3%); completes $17.2B MGP and $4B Venetian acquisitions

VICI PROPERTIES INC.

2022-Q1 EPS reported $0.35 revenue$416,625,000

AFFO $305.5M (+19.8% YoY); AFFO per share $0.44 (down from $0.47 on dilution).
Q1 net income $240.4M ($0.35 diluted EPS); CECL allowance increased $80.8M related to Venetian loan.
Completed $4.0B Venetian land acquisition Feb 23, 2022; financed with $3.2B forward equity and $600M credit facility.
After quarter end, closed $17.2B MGP acquisition April 29; issued 214.5M shares plus $4.4B cash to MGM.
Raised 2022 AFFO guidance to $1.66–1.69B (prior $1.317–1.347B); diluted share count estimated at 878.6M.

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