VICI Properties Inc. (VICI) Misses Q3 EPS by 4c, Revenues Beat; Offers FY18 EPS Views Below Consensus

VICI Properties Inc. (NYSE: VICI) reported Q3 EPS of $0.35, $0.04 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $232.7 million versus the consensus estimate of $230.92 million.

Edward Pitoniak, Chief Executive Officer of VICI Properties, said, “The third quarter of 2018 marked another step in building VICI into a top-tier REIT. With the Octavius Tower transaction closing in July, we now own all of Caesars Palace Las Vegas and collect $200 million of yearly rent, before any annual lease escalators. With our triple net model, this $200 million of rent results in $200 million of net operating income (“NOI”) and as best as we can tell this makes Caesars Palace one of the highest NOI producing real estate assets owned by a REIT in America. We continue to execute our business strategy, relying on our blue-chip capability and governance to build stable portfolio income through all cycles and our sector\'s best internal and external growth pipeline.”

GUIDANCE:

VICI Properties Inc. sees FY2018 EPS of $1.44-$1.45, versus the consensus of $1.52.

For earnings history and earnings-related data on VICI Properties Inc. (VICI) click here.

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