Vici Properties Report Impressive Q3 Profits

Vici Properties have announced their third-quarter revenue performance, which has confirmed that American gaming has been one of the world’s most dynamic leisure/hospitality sectors over the past year.

The Q3 figures show a revenue increase of 10.6% to $375.7m and a 12.9% net income increase to $257.4m, taking into account a $333.4m one-time cost for lease modification.

Vici Properties have also secured a $4bn deal to purchase The Venetian Resort Las Vegas and the Sands Expo and Convention Center along with a deal which is expected to be concluded in the first quarter of 2022 to purchase the MGM Growth Properties for an estimated $17.2bn.

Edward Pitoniak - Chief Executive Officer of Vici Properties

In 2021, a year in which American gaming has been one of the world’s most dynamic leisure/hospitality sectors, and a year that has seen Las Vegas generate visitation levels unrivaled in global tourism, Vici has been one of the world’s most dynamic and productive real estate investment managers.

We have announced over $21bn of transactions so far in 2021, with our $4bn acquisition of The Venetian and our transformative $17.2bn acquisition of MGM Growth Properties. We strongly believe owners of Vici are uniquely positioned to benefit from the quality and composition of our real estate portfolio as the institutionalization of our asset class continues.

Edward PitoniakChief Executive Officer of Vici Properties

The highly impressive US portfolio of Vici is comprised of twenty-eight properties, which include Penn National Gaming, Jack Entertainment, and Hard Rock International.

As well as the casino properties, Vici also own around thirty-four acres of land, which is situated next to the Las Vegas Strip along with four championship golf courses.