VICI Properties Inc. reported strong financial performance for the third quarter of 2024, with revenue reaching $964.7 million, surpassing analyst estimates. The company's Adjusted Funds From Operations (AFFO) for the quarter was $0.57 per share, exceeding the consensus estimate of $0.56 per share. This performance highlights the company's operational strength and the stability of its triple-net lease model.
In a further positive development, VICI Properties raised the lower end of its full-year 2024 AFFO guidance. The updated outlook is now set between $2.25 and $2.26 per diluted share, an increase from the previous range of $2.24 to $2.26. This upward revision reflects confidence in VICI's continued cash flow generation and the accretive nature of its investments.
The strong third-quarter results and improved guidance underscore VICI Properties' ability to deliver consistent financial performance. The company's focus on high-quality gaming and entertainment assets under long-term leases provides predictable revenue streams, contributing to its robust financial health and potential for sustained growth.
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