VICI Properties Q1 revenue up 8.4% to $951.5M; AFFO per share $0.56 (+6.1% YoY); guidance reaffirmed

VICI PROPERTIES INC.

2024-Q1 EPS reported $0.57 revenue$951,481,000

Net income attributable to common stockholders rose 13.7% to $590.0M ($0.57 per diluted share).
Completed $1.05B investment grade senior notes offering (5.75% due 2034 and 6.125% due 2054); proceeds used to refinance existing debt.
Announced up to $700M Partner Property Growth Fund investment at The Venetian Resort Las Vegas, with 7.25% yield on funded capital.
Provided up to $105M construction loan for Margaritaville Resort in Kansas City, KS; call option on resort and youth sports facilities.
Liquidity of $3.5B including $1.2B cash/equivalents/forward equity and $2.3B undrawn revolver; quarterly dividend maintained at $0.415/share.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VICI PROPERTIES INC. reported three months ended March 31, 2024 results: revenue 951.5 million, net income 590.0 million, EPS 0.57. Guidance reaffirmed.

Period: three months ended March 31, 2024
Revenue: 951.5 million
Net income: 590.0 million
EPS: 0.57
Guidance: reaffirmed
Result: reported results

Exact text from the filing

VICI Properties Inc. (NYSE: VICI) (“VICI Properties”, "VICI" or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2024. All per share amounts included herein are on a per diluted common share basis unless otherwise stated. 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 and, on a per share basis, increased 9.4% year-over-year to $0.57 • AFFO attributable to common stockholders increased 10.3% year-over-year to $583.2 million and, on a per share basis, increased 6.1% year-over-year to $0.56 • Announced an agreement to provide an up to $105.0 million construction loan to Homefield Kansas City to fund the development of a Margaritaville Resort in Kansas City, Kansas, and entered into a call right agreement that provides the Company with a call option on the

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Source: SEC EDGAR

accession 0001705696-24-000079

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