VICI Q1 revenue $877.6M (+110.7% YoY), AFFO $0.53, closes $1.3B MGM Grand JV buyout

VICI PROPERTIES INC.

2023-Q1 EPS reported $0.52 revenue$877,647,000

Net income $518.7M ($0.52 EPS), up 115.8% YoY; AFFO $528.6M ($0.53) up 73%.
Acquired four Canadian casinos from PURE for C$271.9M; master lease at 8.0% cap rate.
Bought remaining 49.9% of MGM Grand/Mandalay Bay JV for $1.3B cash plus debt assumption.
Entered triple-net lease with Cherokee Nation for Gold Strike Casino at $40M annual rent.
Reaffirmed full-year 2023 AFFO guidance; dividend $0.39/share.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VICI PROPERTIES INC. reported the quarter ended March 31, 2023 results: revenue $877.6 million, net income $518.7 million, EPS $0.52. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $877.6 million
Net income: $518.7 million
EPS: $0.52
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter 2023 Financial and Operating Highlights • Total revenues increased 110.7% year-over-year to $877.6 million • Net income attributable to common stockholders increased 115.8% year-over-year to $518.7 million and, on a per share basis, increased 47.9% year-over-year to $0.52

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Source: SEC EDGAR

accession 0001705696-23-000071

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