VICI PROPERTIES INC.

10-K & 10-Q Filings

VICI Properties is a Maryland corporation primarily engaged in the business of owning and acquiring gaming, hospitality, and entertainment destinations, subject to long-term triple net leases. The company owns and leases properties to leading operators, including Caesars, MGM, and Hard Rock, among others. VICI Properties conducts its real property business through VICI Operating Partnership (VICI OP) and its golf course business through a taxable REIT subsidiary, VICI Golf LLC. The company's portfolio consists of 93 experiential assets, including 54 gaming properties and 39 other experiential properties across the United States and Canada. The company's website is viciproperties.com, and its ticker symbol is VIC. VICI Properties aims to generate stable and transparent cash flows through long-term triple net leases, with a focus on mission-critical complex real estate and strategic financing relationships with leading experiential operators.

12 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$187.61
897.98
894.80
1225.57
1509.57
Cost of Revenue (-)
$42.66
17.63
20.76
Gross Profit (+)
$
798.80
875.90
1207.94
1488.81
Selling, General & Administrative (-)
$
24.43
24.57
30.66
33.12
Depreciation & Amortization (-)
$0.75
3.69
3.83
3.73
3.09
Non-recurring Operating Expenses (-)
$
12.73
Operating Expenses (-)
$0.75
140.02
52.30
321.02
75.63
Costs & Expenses (Total) (-)
$43.41
140.02
52.30
338.65
96.39
Operating Income/Loss (+)
$144.20
757.95
842.50
886.92
1413.17
Non-operating Income/Expense (+)
$-38.49
-23.04
-58.14
-39.06
-15.50
Interest Expense (-)
$63.35
212.66
248.38
308.61
392.39
Earnings before Tax (+)
$42.64
533.56
555.99
897.04
1026.05
Tax Expense (-)
$-1.90
1.44
1.71
0.83
2.89
Income/Loss (Continuing Operations) (+)
$44.54
532.12
554.28
896.21
1023.16
Profit/Loss (+)
$
532.12
554.28
896.21
1023.16
Net Income/Loss (NCI) (-)
$
8.50
8.32
4.53
9.31
Net Income/Loss (+)
$44.54
523.62
545.96
891.67
1013.85
Net Income/Loss (Common) (+)
$44.54
523.62
545.96
891.67
1013.85
EPS (Basic)
$
1.43
1.25
1.76
1.80
EPS (Diluted)
$
1.43
1.24
1.75
1.76
Weighted Avg Shares (Basic)
370.13
367.23
435.07
506.14
564.47
Weighted Avg Shares (Diluted)
367.32
439.15
510.91
577.07
Cash
$183.65
577.88
1101.89
315.99
739.61
208.93
522.57
247.67
485.32
19.04%95.95%Short-term Investments
$
520.88
59.47
19.97
217.34
29.58
Securities & Long-term Investments
$1184.00
10098.49
10828.96
3313.47
3296.40
17580.12
19506.01
18091.27
19642.43
59.52%8.57%Property, Plant & Equipment (Net)
$1184.70
1158.17
1157.06
Other Assets
$7187.37
64.60
118.24
13414.17
13561.36
19569.43
24031.26
23513.87
24000.55
22.28%2.07%Assets (Total)
$9739.71
11333.37
13265.62
17063.61
17597.37
37575.83
44059.84
41852.81
44157.87
28.60%5.51%Accounts Payable
$32.16
174.08
227.55
317.07
339.84
593.57
664.84
617.50
624.32
65.67%1.11%Debt (Non-current)
$
4122.26
4791.56
6765.53
4694.52
13739.67
16724.13
16606.24
16711.74
0.64%Other Liabilities
$4931.19
136.01
197.52
487.26
375.84
952.47
1013.10
954.54
1003.25
-23.18%5.10%Liabilities (Total)
$4963.35
4432.35
5216.63
7569.87
5410.20
15285.71
18402.07
18178.28
18339.31
24.41%0.89%Retained Earnings
$42.66
187.10
208.07
139.45
346.03
93.15
965.76
220.25
1122.88
68.19%409.81%AOCI
$
-22.12
-65.08
-92.52
0.88
185.35
153.87
170.44
156.64
-8.10%Shareholder's Equity
$4776.36
6901.02
8048.99
9493.75
12187.17
22290.11
25657.77
23674.53
25818.56
32.34%9.06%Liabilities & Equity
$9739.71
11333.37
13265.62
17063.61
17597.37
37575.83
44059.84
41852.81
44157.87
28.60%5.51%Net Income/Loss
$44.54
532.12
554.28
896.21
1023.16
1136.27
2554.62
527.86
599.80
96.38%13.63%Depreciation & Amortization
$0.75
9.66
36.87
23.60
74.54
35.55
50.42
14.46
11.53
101.60%-20.21%Increase/Decrease in Working Capital
$
75.06
-27.65
-47.98
86.82
-46.45
14.02
12.42
46.06
270.76%Share-based Compensation
$
2.34
5.22
7.39
9.37
12.99
15.54
3.47
3.79
9.40%Adjustments to Reconcile Net Income
$0.75
-28.04
127.88
-12.57
-126.81
807.13
-373.61
-5.83
-56.06
-861.98%Net Cash (Operating)
$45.29
504.08
682.16
883.64
896.35
1943.40
2181.01
522.03
543.74
90.74%4.16%Capital Expenditure
$
772.22
1.68
2697.27
2.50
8594.26
1512.08
1273.99
8.31
-99.35%Net Cash (Investing)
$
-1140.88
-1361.38
-4548.76
41.45
-9304.01
-2899.09
-1468.86
-109.16
92.57%Increase/Decrease in Debt
$
-690.06
586.46
1962.46
-2100.00
5000.00
169.15
102.70
-21.47
-120.90%Increase/Decrease in Equity
$
2000.38
1108.25
1481.95
2354.65
3072.91
2480.00
1272.27
-2.80
-100.22%Interest Expenses
$
213.31
209.38
323.22
466.81
762.61
178.05
217.97
22.42%Dividends Paid
$
262.68
503.96
612.21
758.79
1219.12
1583.84
382.61
434.81
13.64%Net Cash (Financing)
$
1037.84
1182.67
2879.22
-514.18
6829.94
1031.79
985.49
-471.78
-147.87%Cash Taxes Paid
$
1.38
2.59
1.79
3.02
4.92
Effect of Exchange Rate
$
-0.06
0.07
-0.05
-172.97%Increase/Decrease in Cash
$
401.04
503.45
-785.90
423.62
-530.68
313.64
38.74
-37.26
-196.17%Cash (Beginning)
$0.92
381.05
598.45
1101.89
315.99
739.61
208.93
208.93
522.57
147.00%150.12%Cash (Ending)
$381.05
1176.33
1101.89
315.99
739.61
208.93
522.57
247.67
485.32
5.40%95.95%NOPAT
$144.20
757.95
842.50
886.92
1413.17
Gross Margin %
88.96%
97.89%
98.56%
98.62%
Operating Margin %
76.86%
84.41%
94.16%
72.37%
93.61%
NOPAT Margin %
76.86%
84.41%
94.16%
72.37%
93.61%
Net Margin %
23.74%
58.31%
61.02%
72.76%
67.16%
ROA
1.48%
6.69%
6.35%
5.20%
8.03%
ROE
3.02%
10.98%
10.47%
9.34%
11.60%
Equity Multiplier
2.04
1.64
1.65
1.80
1.44
1.69
1.72
1.77
1.71
Debt/Equity Ratio
0.60
0.60
0.71
0.39
0.62
0.65
0.70
0.65
Dividend Payout Ratio %
34.66%
59.82%
69.03%
53.69%
Total Payout
$
-834.33
-981.37
-2832.21
827.36
-6386.99
-302.70
-814.31
677.05
183.14%Payout Ratio %
-110.08%
-116.48%
-319.33%
58.55%