NYSE$VICI
VICI Properties Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
VICI Properties reported a 20.3% year-over-year revenue growth, completed a first sale-leaseback transaction in the family entertainment sector with Bowlero, acquired Century Casinos' four gaming properties in Alberta, Canada, announced an expansion of partnership with Canyon Ranch, and increased guidance for full year 2023.
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.
- Total revenues increased 20.3% year-over-year to $904.3 million.
- Net income attributable to common stockholders increased year-over-year to $556.3 million, with EPS at $0.55.
- AFFO attributable to common stockholders increased 16.4% year-over-year to $547.6 million, with AFFO per share at $0.54.
- Completed key acquisitions, including Rocky Gap Casino Resort and Century Casinos' four gaming properties in Alberta, Canada, and entered the family entertainment sector with Bowlero.
Headline financials
Revenue & EPS history
VICI Properties · Revenue · Quarterly
$904M
Revenue by segment
VICI Properties · $904M total across 4 segments · Q3 2023
- Income from Sales-Type Leases$500M+33.0%55.3%
- Lease Financing and Loans$379M+7.9%41.9%
- Other Income$18.2M+1.8%2.0%
- Golf Revenues$7.43M+11.0%0.8%
Forward guidance
The Company is increasing AFFO guidance for the full year 2023 to between $2,170 million and $2,180 million, or between $2.14 and $2.15 per diluted share.
Tailwinds
- Estimated Adjusted Funds From Operations (AFFO) between $2,170 million and $2,180 million.
- Estimated Adjusted Funds From Operations (AFFO) per diluted share between $2.14 and $2.15.
- Estimated Weighted Average Share Count for the Year (in millions) 1,014.4
- Reflects the dilutive effect of the 8,170,658 shares pending under the Q2 and Q3 2023 ATM Forward Sale Agreements as calculated under the treasury stock method.
- Reflects management’s view of current and future market conditions, including assumptions with respect to the earnings impact of the events referenced in this release.
Headwinds
- Guidance does not include the impact on operating results from any pending or possible future acquisitions or dispositions.
- Guidance does not include the impact on operating results from capital markets activity.
- Guidance does not include the impact on operating results from other non-recurring transactions.
- The estimates set forth above may be subject to fluctuations as a result of several factors.
- There can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.0%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-1.0%
Avg return
30 days after
47%
16 / 34 earnings
Positive
+4.8%
Q3 2022
Best reaction
-7.5%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -2.0% | -1.5% | |
| Q4 2025 | +2.2% | -0.1% | -12.0% | |
| Q3 2025 | +1.9% | +2.2% | -2.4% | |
| Q1 2025 | -1.6% | -1.5% | -1.0% | |
| Q4 2024 | +1.7% | +5.3% | +2.5% | |
| Q3 2024 | -3.0% | -1.2% | +0.6% | |
| Q2 2024 | -0.3% | -2.1% | +6.6% | |
| Q1 2024 | +0.9% | +1.8% | +0.6% | |
| Q4 2023 | +1.3% | -0.9% | -2.8% | |
| Q3 2023 | -1.4% | -2.8% | +2.5% | |
| Q2 2023 | -2.8% | -4.1% | -7.1% | |
| Q1 2023 | -3.7% | -3.3% | -8.9% | |
| Q4 2022 | -0.5% | +0.2% | -7.2% | |
| Q3 2022 | +4.8% | +6.7% | +8.8% | |
| Q2 2022 | +2.8% | +4.0% | +2.3% | |
| Q1 2022 | -0.6% | -8.9% | +4.9% | |
| Q4 2021 | +0.8% | +2.4% | +0.0% | |
| Q3 2021 | -0.6% | -2.1% | -7.9% | |
| Q2 2021 | -2.4% | -3.3% | -3.8% | |
| Q1 2021 | +0.7% | +0.7% | -1.1% | |
| Q4 2020 | +2.4% | +3.6% | +2.6% | |
| Q3 2020 | +2.7% | +4.5% | +13.5% | |
| Q2 2020 | +4.6% | +6.2% | +11.0% | |
| Q1 2020 | -7.5% | -8.2% | +9.6% | |
| Q4 2019 | +2.5% | -2.8% | -55.2% | |
| Q3 2019 | +2.3% | +0.3% | +3.1% | |
| Q2 2019 | -2.4% | -3.0% | +3.1% | |
| Q1 2019 | +0.1% | -0.2% | -2.7% | |
| Q4 2018 | -0.9% | -1.2% | -0.1% | |
| Q3 2018 | -0.7% | +1.0% | +0.8% | |
| Q2 2018 | -2.3% | -0.7% | +4.5% | |
| Q1 2018 | +0.8% | +3.0% | +11.2% | |
| Q4 2017 | -0.1% | -0.1% | -6.8% | |
| Q3 2017 | -0.8% | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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