The earnings call highlighted VICI Properties' strong liquidity position, consistent capital deployment, and growth opportunities in Las Vegas. However, concerns about volatile capital market conditions, challenges in regional gaming markets, and potential consumer weakness were also noted.

Company Guidance

During the VICI Properties Q3 2024 earnings call, the company provided guidance indicating an AFFO (Adjusted Funds From Operations) range of $2.36 billion to $2.37 billion, equating to $2.25 to $2.26 per diluted share for the full year. The call highlighted VICI's robust financial position with $2.9 billion in liquidity, comprising $160 million in cash, $430 million from forward sale agreements, and $2.3 billion available under its revolving credit facility. The company maintains a target leverage ratio of 5x to 5.5x, with a current net debt to annualized adjusted EBITDA ratio of approximately 5.4x. VICI emphasized its strategic capital allocation, deploying $230 million in Q3, which included $150 million towards the Venetian capital investment. The company remains focused on growth opportunities in gaming, particularly in Las Vegas, and continues to leverage its experiential real estate strategy, positioning itself to deliver consistent and sustainable growth despite market volatility.

Strong Liquidity Position

VICI Properties reported approximately $2.9 billion in total liquidity, including $160 million in cash and cash equivalents, $430 million of estimated proceeds available under outstanding forwards, and $2.3 billion of availability under the revolving credit facility.

Consistent Capital Deployment

The company deployed $230 million of capital in Q3 2024, marking the 13th consecutive quarter of capital deployment.

AFFO Growth

AFFO per share was $0.57 for the quarter, an increase of 4.9% compared to $0.54 for the quarter ended September 30, 2023.

Las Vegas Investment Opportunities

VICI is positioned to benefit from investment opportunities in Las Vegas, particularly in the sports triangle area at the south end of the Las Vegas Strip.

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Vici Properties (DE:1KN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:1KN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 02, 2018	2018 (Q2)	- / 0.37	0	―	―	―
Nov 01, 2018	2018 (Q3)	- / 0.34	0	―	―	―
Feb 14, 2019	2018 (Q4)	- / 0.36	0.184	94.74% (+0.17)	―	―
May 01, 2019	2019 (Q1)	- / 0.36	0.319	12.12% (+0.04)	―	―
Jul 31, 2019	2019 (Q2)	- / 0.36	0.367	-2.63% (>-0.01)	―	―
Oct 31, 2019	2019 (Q3)	- / 0.30	0.338	-11.43% (-0.04)	―	―
Feb 20, 2020	2019 (Q4)	- / 0.20	0.357	-43.24% (-0.15)	―	―
Apr 30, 2020	2020 (Q1)	- / -0.05	0.357	-113.51% (-0.41)	―	―
Jul 29, 2020	2020 (Q2)	- / 0.45	0.357	27.03% (+0.10)	―	―
Oct 28, 2020	2020 (Q3)	- / 0.71	0.299	138.71% (+0.42)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:1KN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	€28.89	€28.99	+0.36%
Jul 31, 2024	€28.51	€28.38	-0.45%
May 02, 2024	€25.90	€26.20	+1.15%
Feb 22, 2024	€25.77	€26.22	+1.72%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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