VICI Properties Earnings Reports

VICI Properties delivered solid Q3 results with revenue and AFFO growth, maintained strong liquidity, and continued expanding its portfolio with the addition of a new tenant.

VICI Properties delivered solid Q2 2025 performance, driven by increases in leasing income and strategic investment expansions. Net income rose due to favorable credit loss adjustments.

VICI Properties achieved solid operational results with increased AFFO and total revenue, supported by strategic investments, despite a drop in net income driven by non-cash credit loss allowances.

VICI Properties posted a revenue increase of 4.7% YoY to $976.1 million in Q4 2024. However, net income decreased 17.8% to $614.6 million due to a change in CECL allowance. AFFO grew 5.4% to $601.3 million, and the company ended the quarter with $524.6 million in cash and cash equivalents.

VICI Properties reported a strong third quarter in 2024, with a 6.7% increase in total revenues year-over-year, reaching $964.7 million. Net income attributable to common stockholders increased by 31.7% to $732.9 million, and AFFO attributable to common stockholders increased by 8.4% to $593.9 million. The company deployed $230 million of capital and updated its AFFO guidance for the full year 2024 to between $2,360 million and $2,370 million.

VICI Properties Inc. reported a strong second quarter with a 6.6% increase in total revenues to $957.0 million and a 7.3% increase in net income attributable to common stockholders to $741.3 million, or $0.71 per share. The company also announced significant capital investments and raised its AFFO guidance for the full year 2024.

VICI Properties Inc. announced its Q1 2024 results, featuring an 8.4% year-over-year increase in total revenues to $951.5 million and a 13.7% increase in net income attributable to common stockholders to $590.0 million. The company reaffirmed its full-year 2024 AFFO guidance and made strategic investments, including a construction loan for a Margaritaville Resort in Kansas City and a capital investment in The Venetian Resort Las Vegas.

VICI Properties Inc. announced a 21.0% year-over-year increase in total revenues, reaching $931.9 million for the fourth quarter of 2023. Net income attributable to common stockholders increased by 23.8% to $747.8 million, with AFFO also increasing by 17.0% to $570.4 million. The company completed significant acquisitions and investments, including the acquisition of 38 bowling entertainment centers from Bowlero Corp and the leasehold interest of Chelsea Piers in New York City.

VICI Properties Inc. reported a strong third quarter with a 20.3% increase in total revenues, driven by strategic acquisitions and partnerships. Net income attributable to common stockholders increased significantly, and AFFO also saw a substantial rise. The company expanded its portfolio with the acquisition of Rocky Gap Casino Resort, Century Casinos' Canadian properties, and entered the family entertainment sector with Bowlero. Increased AFFO guidance for full year 2023.

VICI Properties Inc. announced strong second quarter 2023 results, featuring a 35.5% year-over-year increase in total revenues to $898.2 million and a rise in net income attributable to common stockholders to $690.7 million, or $0.69 per share. The company expanded its international footprint with the acquisition of Century Casinos' gaming properties in Canada and updated its full-year 2023 AFFO guidance to between $2,130 million and $2,160 million, or between $2.11 and $2.14 per diluted share.

VICI Properties Inc. reported a significant increase in total revenues, net income, and AFFO for the quarter ended March 31, 2023. Total revenues increased by 110.7% year-over-year to $877.6 million. Net income attributable to common stockholders increased by 115.8% year-over-year to $518.7 million. AFFO attributable to common stockholders increased by 73.0% year-over-year to $528.6 million. The company reaffirmed its full year 2023 AFFO guidance.

VICI Properties Inc. reported strong Q4 2022 results, with total revenues increasing by 100.9% year-over-year to $769.9 million and net income attributable to common stockholders increasing by 114.6% year-over-year to $604.1 million. The company also announced several strategic acquisitions and partnerships, expanding its portfolio and investment reach.

VICI Properties Inc. reported strong Q3 2022 results, with total revenues increasing by 100.0% year-over-year to $751.5 million. Net income attributable to common stockholders was $330.9 million, or $0.34 per share. AFFO attributable to common stockholders increased 82.8% year-over-year to $470.7 million, with AFFO per share increasing 8.5% year-over-year to $0.49. The Company also announced the acquisition of Rocky Gap Casino Resort and expanded its partnership with Great Wolf Resorts.

VICI Properties Inc. reported a transformational second quarter in 2022, marked by significant growth and strategic acquisitions. Total revenues increased by 76.0% year-over-year to $662.6 million. The company completed the acquisition of MGM Growth Properties LLC and was added to the S&P 500 index.

VICI Properties Inc. reported an 11.3% year-over-year increase in total revenues to $416.6 million for the quarter ended March 31, 2022. The company completed the acquisition of the land and real estate assets of the Venetian Resort Las Vegas for $4.0 billion and closed the acquisition of MGM Growth Properties LLC for $17.2 billion subsequent to quarter-end.

VICI Properties Inc. reported a 2.7% increase in total revenues for Q4 2021, reaching $383.2 million. Net income attributable to common stockholders was $281.5 million, or $0.44 per share. AFFO increased by 10.8% to $278.9 million, although AFFO per share decreased by 5.8% to $0.44. The company completed the disposition of Harrah's Louisiana Downs and entered into an agreement related to the Mirage Hotel & Casino in Las Vegas.

VICI Properties Inc. reported a 10.6% year-over-year increase in total revenues to $375.7 million for the quarter ended September 30, 2021. The company also announced the strategic acquisition of MGM Growth Properties LLC for $17.2 billion and a strategic arrangement with BigShots Golf. AFFO increased 12.9% year-over-year to $257.4 million.

VICI Properties Inc. announced strong second-quarter results, with a 45.9% year-over-year increase in total revenues to $376.4 million. Net income attributable to common stockholders was $300.7 million, or $0.54 per share. The company reaffirmed its full-year 2021 AFFO guidance and entered into a strategic arrangement with Great Wolf Resorts, Inc.

VICI Properties Inc. reported a strong first quarter in 2021, marked by a 46.8% year-over-year increase in total revenues to $374.3 million. The company also announced a significant $4.0 billion acquisition of the Venetian Resort Las Vegas and the Sands Expo and Convention Center, expected to generate $250 million of incremental annual rent upon closing.

VICI Properties reported a strong Q3 2020, marked by a 52.6% increase in total revenues to $339.7 million and net income of $398.3 million, driven by strategic acquisitions and investments including the Caesars transaction. The company also completed its first investment outside of gaming through a mortgage loan to Chelsea Piers New York.

VICI Properties reported strong Q2 2020 results, with total revenues increasing by 16.8% year-over-year to $257.9 million and net income attributable to common stockholders reaching $229.4 million, or $0.47 per share. The company also announced $503.5 million in acquisitions and investments and maintained 100% rent collection during the quarter.

VICI Properties reported a revenue increase of 19.2% year-over-year, reaching $255.0 million. However, the company experienced a net loss of $(24.0) million, or $(0.05) per diluted share, primarily due to the adoption of the CECL accounting standard and the redemption of Second Lien Notes. Adjusted Funds From Operations (AFFO) increased by 18.8% to $180.0 million, or $0.38 per diluted share.

VICI Properties reported an increase in total revenues for Q4 2019, driven by higher leasing revenues. However, net income and FFO decreased due to costs related to debt termination and an increased share count. Adjusted Funds From Operations (AFFO) saw a significant increase.