US – VICI generates 72.3 per cent year-over-year revenue increase to a record $2.6bn in 2022By Phil - 1 March 2023
VICI Properties generated fourth quarter revenues of $769.9m for the quarter, an increase of 100.9 per cent compared to $383.2m for the quarter ended December 31, 2021.
Total revenues for the year increased 72.3 per cent year-over-year to a record $2.6bn.
The quarter saw VIVI announced a partnership with Canyon Ranch, providing up to $200m in financing related to a development in Austin, Texas and purchase options for additional Canyon Ranch properties
Following the quarter the copany acquired four gaming properties in Alberta, Canada for C$271.9m, representing the company’s first international investment
Edward Pitoniak, Chief Executive Officer of VICI Properties, said: “In 2022, less than 5 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.”