VICI Q2 AFFO up 68% to $430M; closes MGP acquisition, issues $5B notes

VICI PROPERTIES INC.

2022-Q2 EPS reported $0.23 revenue$1,079,248,000

AFFO per share $0.48 (+3.7% YoY); net loss $(0.06)/share due to $551.9M CECL allowance increase.
Total revenues $662.6M (+76% YoY); reaffirms FY2022 AFFO guidance of $1.66-1.69B ($1.89-1.92/share).
Closed MGP acquisition on Apr 29, issuing 214.6M shares and paying $4.4B cash to MGM; new MGM Master Lease with initial annual rent $860M.
Issued $5.0B inaugural investment-grade senior notes (weighted avg rate 5.00%) to fund MGP cash consideration and revolver paydown.
Added to S&P 500 on June 8; quarterly dividend maintained at $0.36/share; new loans/agreements with Cabot and Great Wolf.

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