Vici Properties has released its financial results for the fourth quarter and full year of 2023.
Q4 2023
In the fourth quarter of 2023, Vici Properties experienced a year-on-year increase in total revenue to a sum of $931.9m, up 21%. Total revenue during the quarter included $131.8m of non-cash leasing and financing adjustments, and $18.3m of other income.
Net income attributable to common stockholders rose from $604.1m to $747.8m, or $0.72 per share.
The Funds from Operations (FFO) attributable to common stockholders climbed to $747.8m for the quarter, or $0.72 per share, while Adjusted Funds from Operations (AFFO) attributable to common stockholders also increased, by 17%, to $570.4m.
FY 2023
The figures highlighted in the fourth quarter were echoed in the full year, with growth in all financial measures.
Total revenue was valued at $3.61bn for the year, a 38.9% rise when compared with 2022’s figure of $2.60bn. This figure for 2023 included $515.5m of non-cash leasing and financing adjustments, and $73.3m of other income.
Growth was also seen in net income attributable to common stockholders. This was set at $2.51bn, or $2.47 per share, for 2023.
FFO attributable to common stockholders was $2.52bn for the year, or $2.48 per share, and AFFO attributable to common stockholders was $2.19bn for the year, or $2.15 per share for the year.
Comments
Vici Properties CEO Edward Pitoniak said: “In 2023, Vici successfully deployed capital every single month of the year despite volatility across commercial real estate and in the capital markets.
“This year, our $1.8 billion of capital commitments with best-in-class operators across gaming and other experiential sectors came with several Vici milestones.
"We consummated our first international real estate acquisitions of gaming properties in Canada and grew financing partnerships in Saint Lucia and the UK, made our first real estate acquisition in the family entertainment sector, significantly expanded our partnerships with Canyon Ranch and Cabot, and converted our first loan to real estate ownership.”
In other financial news, Bally’s Corporation released its financial results, showing revenue growth in all segments in Q4 2023.
