VICI Properties Inc.

FAQs

What is VICI Properties?

We are a New York-based real estate investment trust (“REIT”) that owns, acquires, and develops single-tenant, triple-net leased properties, with a focus best-in-class gaming, hospitality and entertainment destinations that provide exceptional customer experiences. We partner with leading brands that are committed to driving customer loyalty and value through great service, superior products and constant innovation. Our strategy is to create the nation’s highest quality and most productive experiential real estate portfolio. We believe our specialized knowledge and targeted investment philosophy are key differentiators, providing us with a sustainable competitive advantage that presents a compelling value proposition for investors seeking current income as well as long-term growth.

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When was VICI Properties founded?

VICI Properties was formed as a Real Estate Investment Trust (“REIT”) and commenced operations on October 6, 2017, as a result of a spin-off from Caesars Entertainment Operating Company (“CEOC”) as part of a reorganization under Chapter 11.

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What is VICI Properties’ fiscal year?

VICI Properties’ fiscal year aligns with the calendar year, ending on December 31st.

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Where is VICI Properties’ common stock listed?

Our common stock is listed and traded on the New York Stock Exchange under the symbol VICI. For more detailed stock information, please visit our Stock Information page.

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When did VICI Properties become public?

The Company commenced trading its shares on the NYSE under the ticker VICI on February 1, 2018.

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When does VICI Properties typically release earnings?

The Company typically releases earnings for interim quarters at or around the end of the month following quarter-end. Additionally, the Company typically releases year-end earnings around the end of the second month following year-end.

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Does VICI Properties pay a dividend?

VICI Properties intends to pay regular quarterly distributions to holders of its common shares. VICI Properties Inc. paid its first dividends to public shareholders in March 2018. The declaration and payment of future dividends will be at the sole discretion of VICI Properties’ board of directors and will depend upon many factors, including its financial condition, earnings, legal requirements, restrictions in its credit facility and the indenture governing its debt securities and other factors the its board of directors deems relevant. There can be no assurance that VICI Properties will be able to make distributions to its shareholders or maintain its anticipated level of distributions over time.

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Does VICI Properties have a Dividend Reinvestment Plan (DRIP)?

At this time VICI Properties does not have a Dividend Reinvestment Plan (DRIP).

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Are dividends taxable to shareholders and, if so, at what rate?

Dividends are generally taxable in the year in which they are declared by VICI Properties. Following the end of each year we provide our US-based investors a Form 1099-DIV, and in relation to our non-US investors a Form 1042-S, and a tax status letter to shareholders that describes the taxability of the dividends paid in the preceding year, including a breakdown between ordinary and capital gain dividends. For information about taxes in respect of dividends received by you, you should consult your own tax advisor.

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What tax form does your Company generate at year end?

As a REIT, VICI Properties will be issuing a Form 1099-DIV, and in relation to our non-US investors a Form 1042-S.

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Who is the VICI Properties’ transfer agent and what is their contact information?

Our transfer agent is Computershare. For transfer agent inquiries by phone, please call 877-373-6374.  For additional information see: computershare.com/us

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Can I purchase shares directly from VICI Properties?

VICI’s common stock can be bought or sold through a stockbroker, bank or financial institution that offers brokerage services.

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How do I obtain copies of financial information for VICI Properties?

Most of VICI Properties’ reports and financial filings can be viewed and downloaded from the News Releases or SEC Filings pages on the company website. They can also be accessed via the Securities & Exchange Commission website under EDGAR search at sec.gov.

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How can I receive email alerts from VICI Properties?

A ‘subscribe to emails’ sign up for email alerts on our SEC filings, presentations, events, news, and end-of-day stock quotes, can be found in the ‘subscribe to emails’ area of the Investor section drop-down menu, and in the footer of this website.

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How can I request additional information from VICI Properties?

You can request information via our Contact page. Investors can contact us by email at investors@viciproperties.com or by phone at 646-949-4631. Media inquiries can contact us by email at pr@viciproperties.com or by phone at 646-949-4631.

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What is the nature of VICI Properties relationship with Caesars Entertainment?

A significant proportion of our properties are leased to Caesars Entertainment through a master lease agreement. They operate those properties, providing market-leading experiences to an intensely loyal consumer base.

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What are Funds From Operations (“FFO”) and FFO as adjusted?

The National Association of Real Estate Investment Trusts (“NAREIT”) developed FFO as a relative non-GAAP financial measure of performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP and management provides FFO herein because it believes this information is useful to investors in this regard.

FFO is a widely used measure of the operating performance of real estate companies and is provided here as a supplemental measure to GAAP net income available to common shareholders and earnings per share. Pursuant to the definition of FFO by the Board of Governors of NAREIT, we calculate FFO as net income available to common shareholders, computed in accordance with GAAP, excluding gains and losses from sales [or acquisitions] of depreciable operating properties and impairment losses of depreciable real estate, plus real estate related depreciation and amortization, and after adjustments for unconsolidated partnerships, joint ventures and other affiliates. Adjustments for unconsolidated partnerships, joint ventures and other affiliates are calculated to reflect FFO on the same basis. We have calculated FFO for all periods presented in accordance with this definition.

In addition, we present FFO as adjusted by adding to FFO costs (gains) associated with loan refinancing or payoff, net, transaction costs (benefit), retirement severance expense, provision for loan losses, preferred share redemption costs and termination fees associated with tenants’ exercises of education properties buy-out options and by subtracting gain on early extinguishment of debt, gain (loss) on sale of land, gain on insurance recovery and deferred income tax benefit (expense). FFO and FFO as adjusted are a non-GAAP financial measures. FFO and FFO as adjusted do not represent cash flows from operations as defined by GAAP and are not indicative that cash flows are adequate to fund all cash needs and are not to be considered an alternative to net income or any other GAAP measure as a measurement of the results of our operations or our cash flows or liquidity as defined by GAAP. It should also be noted that not all REITs calculate FFO and FFO as adjusted the same way so comparisons with other REITs may not be meaningful.

For further definitions and additional information, please visit NAREIT’s website at reit.com.

back to top
What is VICI Properties?

We are a New York-based real estate investment trust (“REIT”) that owns, acquires, and develops single-tenant, triple-net leased properties, with a focus best-in-class gaming, hospitality and entertainment destinations that provide exceptional customer experiences. We partner with leading brands that are committed to driving customer loyalty and value through great service, superior products and constant innovation. Our strategy is to create the nation’s highest quality and most productive experiential real estate portfolio. We believe our specialized knowledge and targeted investment philosophy are key differentiators, providing us with a sustainable competitive advantage that presents a compelling value proposition for investors seeking current income as well as long-term growth.

back to top
When was VICI Properties founded?

VICI Properties was formed as a Real Estate Investment Trust (“REIT”) and commenced operations on October 6, 2017, as a result of a spin-off from Caesars Entertainment Operating Company (“CEOC”) as part of a reorganization under Chapter 11.

back to top
What is VICI Properties’ fiscal year?

VICI Properties’ fiscal year aligns with the calendar year, ending on December 31st.

back to top
Where is VICI Properties’ common stock listed?

Our common stock is listed and traded on the New York Stock Exchange under the symbol VICI. For more detailed stock information, please visit our Stock Information page.

back to top
When did VICI Properties become public?

The Company commenced trading its shares on the NYSE under the ticker VICI on February 1, 2018.

back to top
When does VICI Properties typically release earnings?

The Company typically releases earnings for interim quarters at or around the end of the month following quarter-end. Additionally, the Company typically releases year-end earnings around the end of the second month following year-end.

back to top
Does VICI Properties pay a dividend?

VICI Properties intends to pay regular quarterly distributions to holders of its common shares. VICI Properties Inc. paid its first dividends to public shareholders in March 2018. The declaration and payment of future dividends will be at the sole discretion of VICI Properties’ board of directors and will depend upon many factors, including its financial condition, earnings, legal requirements, restrictions in its credit facility and the indenture governing its debt securities and other factors the its board of directors deems relevant. There can be no assurance that VICI Properties will be able to make distributions to its shareholders or maintain its anticipated level of distributions over time.

back to top
Does VICI Properties have a Dividend Reinvestment Plan (DRIP)?

At this time VICI Properties does not have a Dividend Reinvestment Plan (DRIP).

back to top
Are dividends taxable to shareholders and, if so, at what rate?

Dividends are generally taxable in the year in which they are declared by VICI Properties. Following the end of each year we provide our US-based investors a Form 1099-DIV, and in relation to our non-US investors a Form 1042-S, and a tax status letter to shareholders that describes the taxability of the dividends paid in the preceding year, including a breakdown between ordinary and capital gain dividends. For information about taxes in respect of dividends received by you, you should consult your own tax advisor.

back to top
What tax form does your Company generate at year end?

As a REIT, VICI Properties will be issuing a Form 1099-DIV, and in relation to our non-US investors a Form 1042-S.

back to top
Who is the VICI Properties’ transfer agent and what is their contact information?

Our transfer agent is Computershare. For transfer agent inquiries by phone, please call 877-373-6374.  For additional information see: computershare.com/us

back to top
Can I purchase shares directly from VICI Properties?

VICI’s common stock can be bought or sold through a stockbroker, bank or financial institution that offers brokerage services.

back to top
How do I obtain copies of financial information for VICI Properties?

Most of VICI Properties’ reports and financial filings can be viewed and downloaded from the News Releases or SEC Filings pages on the company website. They can also be accessed via the Securities & Exchange Commission website under EDGAR search at sec.gov.

back to top
How can I receive email alerts from VICI Properties?

A ‘subscribe to emails’ sign up for email alerts on our SEC filings, presentations, events, news, and end-of-day stock quotes, can be found in the ‘subscribe to emails’ area of the Investor section drop-down menu, and in the footer of this website.

back to top
How can I request additional information from VICI Properties?

You can request information via our Contact page. Investors can contact us by email at investors@viciproperties.com or by phone at 646-949-4631. Media inquiries can contact us by email at pr@viciproperties.com or by phone at 646-949-4631.

back to top
What is the nature of VICI Properties relationship with Caesars Entertainment?

A significant proportion of our properties are leased to Caesars Entertainment through a master lease agreement. They operate those properties, providing market-leading experiences to an intensely loyal consumer base.

back to top
What are Funds From Operations (“FFO”) and FFO as adjusted?

The National Association of Real Estate Investment Trusts (“NAREIT”) developed FFO as a relative non-GAAP financial measure of performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP and management provides FFO herein because it believes this information is useful to investors in this regard.

FFO is a widely used measure of the operating performance of real estate companies and is provided here as a supplemental measure to GAAP net income available to common shareholders and earnings per share. Pursuant to the definition of FFO by the Board of Governors of NAREIT, we calculate FFO as net income available to common shareholders, computed in accordance with GAAP, excluding gains and losses from sales [or acquisitions] of depreciable operating properties and impairment losses of depreciable real estate, plus real estate related depreciation and amortization, and after adjustments for unconsolidated partnerships, joint ventures and other affiliates. Adjustments for unconsolidated partnerships, joint ventures and other affiliates are calculated to reflect FFO on the same basis. We have calculated FFO for all periods presented in accordance with this definition.

In addition, we present FFO as adjusted by adding to FFO costs (gains) associated with loan refinancing or payoff, net, transaction costs (benefit), retirement severance expense, provision for loan losses, preferred share redemption costs and termination fees associated with tenants’ exercises of education properties buy-out options and by subtracting gain on early extinguishment of debt, gain (loss) on sale of land, gain on insurance recovery and deferred income tax benefit (expense). FFO and FFO as adjusted are a non-GAAP financial measures. FFO and FFO as adjusted do not represent cash flows from operations as defined by GAAP and are not indicative that cash flows are adequate to fund all cash needs and are not to be considered an alternative to net income or any other GAAP measure as a measurement of the results of our operations or our cash flows or liquidity as defined by GAAP. It should also be noted that not all REITs calculate FFO and FFO as adjusted the same way so comparisons with other REITs may not be meaningful.

For further definitions and additional information, please visit NAREIT’s website at reit.com.

back to top