Financial Data and Key Metrics Changes - The company reported an AFFO per share of $0.58 for Q1 2025, representing a 4.3% increase from $0.56 in Q1 2024 [20] - The net debt to annualized first quarter adjusted EBITDA is approximately 5.3 times, within the target leverage range of 5 to 5.5 [19] - The company raised its AFFO guidance for 2025 to between $2.47 billion and $2.50 billion, or between $2.33 and $2.36 per diluted common share, indicating a year-over-year growth of 3.8% [21][22] Business Line Data and Key Metrics Changes - The company successfully closed a $510 million delayed draw term loan facility for the development of the North Fork Mono Casino and Resort in partnership with Red Rock Resorts [12] - The casino is expected to feature 2,400 slot machines and 40 table games, indicating a significant investment in the gaming sector [12] Market Data and Key Metrics Changes - Las Vegas continues to show strong demand, with events like WWE's WrestleMania drawing nearly 125,000 fans, highlighting the city's appeal [15] - The company believes that Las Vegas may benefit from a domestic trade-down effect if Americans forgo international travel, as only 12% of Las Vegas visitation in 2024 was from international travelers [15] Company Strategy and Development Direction - The company emphasizes maintaining and growing cash income distributed to stockholders in the form of dividends, which is a key focus for REIT investors [5] - The partnership with Red Rock Resorts represents a strategic move into tribal land investments, showcasing the company's ability to identify high-quality opportunities in the gaming sector [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of property performance during periods of market volatility, focusing on strong relationships with tenants [16] - The management team highlighted the importance of dividends in total returns, especially in the current economic environment [10] Other Important Information - The company has approximately $3.2 billion in total liquidity, which includes $334 million in cash and $2.3 billion of availability under its revolving credit facility [19] - The company has a weighted average interest rate of 4.47% and a weighted average maturity of 6.7 years, reflecting proactive risk management [19] Q&A Session Summary Question: Can you provide more details on the new property deal and its market draw? - Management highlighted the large catchment area for the North Fork project, emphasizing the operator's experience and the potential to attract new customers [26][30] Question: Has the view on tribal sale leasebacks changed? - Management acknowledged the complexities of tribal sale leasebacks but expressed confidence in the current deal due to the operator's experience [34][35] Question: Are tariffs impacting construction budgets or timelines? - Management noted that experienced development partners are managing tariff-related challenges effectively [38][39] Question: What is the current pipeline outlook amid macro volatility? - Management indicated that while volatility affects growth ambitions, they continue to engage with operators to explore opportunities [44][46] Question: Can you elaborate on the capital structure of the Red Rock deal? - The total facility for the project is $725 million, with a blended yield around 7%, reflecting a strong partnership with Red Rock [84][85] Question: Is there an appetite for more construction lending? - Management clarified that while there is no general strategy for construction lending, they are open to opportunities that align with their relationship-based approach [92][93]

For the quarter ended March 2025, VICI Properties Inc. (VICI) reported revenue of $984.2 million, up 3.4% over the same period last year. EPS came in at $0.58, compared to $0.57 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $985.56 million, representing a surprise of -0.14%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.58.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Group 1: Financial Performance - VICI Properties Inc. reported quarterly funds from operations (FFO) of $0.58 per share, matching the Zacks Consensus Estimate and showing an increase from $0.56 per share a year ago [1] - The company posted revenues of $984.2 million for the quarter ended March 2025, slightly missing the Zacks Consensus Estimate by 0.14%, but up from $951.48 million year-over-year [2] - The current consensus FFO estimate for the upcoming quarter is $0.58 on revenues of $995.74 million, and for the current fiscal year, it is $2.33 on revenues of $3.99 billion [7] Group 2: Market Performance and Outlook - VICI Properties shares have increased approximately 10.4% since the beginning of the year, contrasting with a decline of -5.5% in the S&P 500 [3] - The estimate revisions trend for VICI Properties is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The outlook for the REIT and Equity Trust - Other industry is currently in the bottom 36% of Zacks industries, which may impact stock performance [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-38372 (VICI Properties Inc.) Commission file number: 333- ...

Exhibit 99.1 VICI PROPERTIES INC. ANNOUNCES FIRST QUARTER 2025 RESULTS - Entered Agreement to Provide up to $510.0 Million for Development of Tribal Casino to be Managed by Red Rock Resorts - - Completed $1.3 Billion Investment Grade Senior Notes Of ering - - Raises Guidance for Full Year 2025 - NEW YORK, NY – April 30, 2025 – VICI Properties Inc. (NYSE: VICI) ("VICI Properties", "VICI" or the "Company"), an experiential real estate investment trust, today reported results for the quarter ended March 31, 20 ...

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock. While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, ...

VICI Properties Inc. (VICI) is slated to report first-quarter 2025 earnings results on April 30, after the closing bell. Its quarterly results are expected to exhibit growth in revenues and adjusted funds from operations (AFFO) per share.In the last reported quarter, this New York-based experiential REIT, which owns the portfolios of market-leading gaming, hospitality and entertainment destinations, reported an AFFO per share of 57 cents, in line with the Zacks Consensus Estimate.Over the preceding four qua ...

Core Viewpoint - The article emphasizes the importance of focusing on dividend income rather than stock price volatility, especially in the current uncertain economic environment. It highlights three specific stocks that offer reliable dividends. Group 1: TD Bank - TD Bank's shares are nearly 30% below their 2022 highs, placing it in a bear market, which has resulted in a historically high yield of around 5% [2][3] - Despite regulatory challenges due to money laundering issues in its U.S. business, TD Bank's core Canadian operations remain strong, allowing it to sustain and grow its dividend, which was recently raised by 3% [3] - The bank's ability to provide a reliable and growing dividend makes it a low-risk investment opportunity for conservative investors [3] Group 2: Vici Properties - Vici Properties is a net lease REIT primarily investing in casinos, which is perceived as risky; however, it does not operate the casinos and will continue to receive rent payments regardless of the economic conditions [4][5] - The REIT has consistently increased its dividend since its IPO, with a current yield of 5.3%, supported by long-term leases that include inflation-based rent hikes [5] - Vici's business model is designed to maintain dividends even during economic downturns, making it a stable investment option [5] Group 3: Enbridge - Enbridge is a North American midstream company with reliable cash flows from transporting oil and natural gas, allowing it to increase its dividend annually for 30 consecutive years [6][7] - The company is diversifying its operations, with 25% of its business focused on regulated natural gas utilities and clean energy, positioning it for long-term sustainability [7] - Enbridge offers a dividend yield of 5.7%, appealing to investors looking for both current income and long-term growth potential [6][7]

Core Viewpoint - Investing in dividend stocks, particularly VICI Properties, is an effective strategy for generating passive income through high-yield dividends Group 1: Company Overview - VICI Properties owns significant experiential real estate, including iconic casinos on the Las Vegas Strip such as Caesars Palace, MGM Grand, and Venetian Resort, leased under long-term triple net leases, providing stable and growing rental income for dividends [2] Group 2: Dividend Details - The current quarterly dividend is $0.4325 per share, which annualizes to $1.73, requiring ownership of 2,890 shares to generate $5,000 in annual dividend income, translating to an investment of over $94,000 at a share price of approximately $32.50 [3][4] - VICI Properties has consistently increased its dividend payout every year since its formation, achieving a 7% compound annual growth rate over seven consecutive years, indicating a strong potential for rising dividend income [6] Group 3: Comparative Analysis - The investment required to generate $5,000 in annual dividend income from VICI Properties is significantly lower than that needed for an S&P 500 index fund, which would require over $350,000 due to its lower dividend yield of 1.4% compared to VICI's 5.3% [5]

As a 31-year-old, the bulk of my income is derived from good old labor. Therefore, I can take on a lot more risk when talking about investing. Around half of my portfolio consists of deep-value or pretty distressed REITsI'm Luuk Wierenga, an economics teacher from the Netherlands with a strong focus on income investing. My investment journey began during COVID-19, and since then, I've specialized in identifying high-yield Real Estate Investment Trusts (REITS) that provide stable passive income and/or a poss ...