VICI Properties revenues up 20.3% in Q3 amid acquisition of four Canadian casinos

VICI Properties finalized the sale-leaseback of the four Alberta properties in September

VICI Properties has reflected positively on its Q3 financial report after increasing revenues to C$1.25bn (US$904.3m) during the three-month period.

The number represents a 20.3% increase YoY while net income, attributable to common stockholders, increased YoY to C$769.3m from C$457.6m.

Crucially, the quarter also saw VICI Properties complete its acquisition of four casino properties in Alberta from its partner Century Casinos – Century Casino & Hotel Edmonton, Century Casino St. Albert, Century Mile Racetrack and Casino, and Century Downs Racetrack and Casino.

Edward Pitoniak, CEO, VICI Properties, said: “VICI’s third quarter financial performance reflects our sustained, sustainable commitment to accretive growth and capital deployment through acquisitions and strategic financing activity, exemplified by approximately 20% revenue growth and nearly 11% growth in AFFO per share year-over-year.

“During the quarter, in addition to closing Rocky Gap and announcing the expansion of our Canyon Ranch Growth Partnership, we expanded our international presence through closing the acquisition of four casino properties in Alberta, Canada with our existing tenant and partner, Century Casinos.”

Additionally, VICI Properties ended the quarter with C$706.5m in cash and cash equivalents and C$1.1bn of estimated available forward sale equity proceeds.

The firm also declared a quarterly cash dividend of $0.415 per share, representing a 6.4% YoY increase.

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