VICI Properties has reported results for the quarter and year ended December 31, 2022.
For the full year, total revenues increased 72.3 per cent year-over-year to $2.6bn. Net income attributable to common stockholders increased 10.2 per cent year-over-year to $1.1bn and, on a per share basis, decreased 27.7 per cent year-over-year to $1.27, primarily due to the impact of CECL and increased weighted average share count.
CEO Edward Pitoniak said: “In 2022, less than five years from our IPO, VICI became a top 10 REIT in the RMZ REIT Index, a member of the S&P 500 and an investment grade issuer of credit.
“In the first half of the year, we completed our transformational acquisitions of MGM Growth Properties and the Venetian Resort Las Vegas, thereby becoming the leading real estate owner on America’s most dynamic commercial street, The Las Vegas Strip.
“In the second half of the year and into 2023, we demonstrated the advantage and flexibility provided by VICI’s scale and liquidity as we announced and originated approximately $4.5bn of investments across a variety of gaming and non-gaming opportunities, diversifying our relationships and expanding internationally into Canada with our PURE Canadian Gaming announcement in January 2023.
“Finally, we are proud that VICI generated the highest – and only positive – total shareholder return of all S&P 500 REITs in 2022. We are confident that our 2022 activities and achievements will continue to put VICI in position for sustainable accretive growth and value creation for our shareholders into 2023 and beyond.”