Q1 2024 VICI Properties Inc Earnings Call Transcript
Key Points
- VICI Properties Inc (VICI) reported a 6.1% growth in AFFO per share over Q1 2023, demonstrating strong financial performance.
- The company successfully refinanced $1.50 billion of maturing debt, capitalizing on favorable market conditions to secure a blended yield of 5.9%.
- VICI Properties Inc (VICI) continues to expand its investment scope, notably with a $700 million investment opportunity in The Venetian, enhancing a key Las Vegas asset.
- The company maintains a robust liquidity position with approximately $3.5 billion available, ensuring readiness for future investments and market fluctuations.
- VICI Properties Inc (VICI) has a diversified portfolio with ongoing growth in both gaming and non-gaming sectors, including significant investments in youth sports and wellness.
- Despite strong performance, the broader REIT sector was not invited to the 'party' in the equity markets, indicating potential sector-wide challenges.
- The company faces ongoing market volatility, with potential impacts on investment and refinancing activities highlighted by fluctuations in the MOVE and VIX indices.
- Interest rate volatility continues to affect transaction volumes in the gaming market, potentially impacting future growth opportunities.
- VICI Properties Inc (VICI) noted challenges in the regional gaming markets, including weather-related impacts and potential shifts in consumer discretionary spending.
- The broader economic environment remains uncertain, with potential impacts on consumer spending and investment returns, as noted in discussions of market conditions and Federal Reserve comments.
Good day, everyone, and thank you for standing by. Welcome to the VICI Properties First Quarter 2024 Earnings Conference Call. (Operator Instructions) Please note that this conference call is being recorded today, May 2, 2024. I will now turn the call over to Samantha Gallagher, General Counsel with VICI Properties.
Thank you, operator, and good morning. Everyone should have access to the company's first quarter 2024 earnings release and supplemental information. The release and supplemental information can be found in the Investors section of the VICI Properties website at www.viciproperties.com. Some of our comments today will be forward-looking statements within the meaning of the federal securities laws.
Forward-looking statements, which are usually identified by the use of words such as will, believe, expect, should, guidance, intends, outlook, projects or other similar phrases, are
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
