Vici Properties Reports 2024 Financial Results and Strategic Developments

Vici Properties ( (VICI) ) has released its Q4 earnings. Here is a breakdown of the information Vici Properties presented to its investors.

Vici Properties Inc. is a real estate investment trust focused on experiential properties, including gaming, hospitality, wellness, entertainment, and leisure destinations, with a notable presence on the Las Vegas Strip. The company recently reported its financial results for the fourth quarter and full year 2024, highlighting several strategic developments and financial performance metrics.

In the fourth quarter of 2024, Vici Properties saw a 4.7% increase in total revenues, reaching $976.1 million. However, net income attributable to common stockholders experienced a decline of 17.8%, primarily due to changes in the CECL allowance. On a positive note, adjusted funds from operations (AFFO) increased by 5.4% year-over-year. For the full year 2024, the company reported a 6.6% increase in total revenues, amounting to $3.8 billion, and a 6.6% rise in net income attributable to common stockholders.

Key strategic announcements included the establishment of a strategic relationship with Cain International and Eldridge Industries, as well as a capital commitment of approximately $1.1 billion at an initial yield of 8.1%. Vici Properties also upgraded its issuer credit rating to ‘Baa3′ and issued $1.8 billion in investment-grade senior notes to refinance existing debt. The company ended the year with $524.6 million in cash and cash equivalents.

Vici Properties’ outlook for 2025 remains optimistic, with guidance estimating AFFO between $2,455 million and $2,485 million, reflecting the company’s continued focus on strategic investments and partnerships in the experiential real estate sector. The management believes that disciplined execution and robust partnerships will drive long-term growth and value for shareholders.