earnings
confidence medium
sentiment positive
materiality 0.75
VICI Q4 revenue +4.7% to $976M; AFFO $0.57 (+5.4%); FY24 AFFO $2.26; 2025 guidance
VICI PROPERTIES INC.
2024-FY EPS reported
$2.56
revenue$3,849,205,000
- Q4 total revenues $976.1M (+4.7% YoY); net income $614.6M ($0.58) down 17.8% on CECL change.
- Q4 AFFO $601.3M ($0.57) up 5.4% YoY; FY24 AFFO $2.37B ($2.26) up 8.4%.
- Announced ~$1.1B capital commitments at 8.1% yield in 2024 (Venetian $700M, Great Wolf $250M, Homefield $105M).
- Post-Q4: new $2.5B revolving credit facility; $300M mezzanine loan for One Beverly Hills with Cain/Eldridge.
- Moody's upgraded to Baa3; annualized dividend increased 4.2% in Q3.