Slide 1: Supplemental Financial & Operating Data
VICI Q3 2021 Supplemental Financial & Operating Data SUP P L EMENTAL F I NANCI AL & OP ERAT I NG DATA T H I R D Q U A R T E R E N D E D S E P T E M B E R 3 0 , 2 0 2 1 Exhibit 99.2
Slide 2: Disclaimers
VICI Q3 2021 Supplemental Financial & Operating Data 2 Disclaimers Forward Looking Statements Certain statements in this presentation are forward-looking statements within the meaning of the federal securities laws. Forward‐looking statements are based on VICI Properties Inc.’s (“VICI” or the “Compa
Slide 3: Corporate Overview
VICI Q3 2021 Supplemental Financial & Operating Data Corporate Overview About VICI Properties (NYSE: VICI) Senior Management Edward Pitoniak John Payne David Kieske Samantha Gallagher Gabriel Wasserman Chief Executive Officer & Director President & Chief Operating Officer EVP, Chief Financial Office
Slide 4: Table of Contents
VICI Q3 2021 Supplemental Financial & Operating Data Table of Contents Consolidated Balance Sheets 6-7 Consolidated Statements of Operations 8-9 Non‐GAAP Financial Measures 10-11 2021 Guidance 15 Properties Breakdown 18-19 Summary of Current Lease Terms 20-21 Recent Activity 22-23 Definitions of Non
Slide 5: Portfolio & Financial Overview
VICI Q3 2021 Supplemental Financial & Operating Data Three Months Ended Sep. 30, 2021 Jun. 30, 2021 Mar. 31, 2021 Dec. 31, 2020 Sep. 30, 2020 Net Income Per Share Basic $0.29 $0.56 $0.50 $0.54 $0.75 Diluted $0.28 $0.54 $0.50 $0.53 $0.74 Funds From Operations Per Share Basic $0.29 $0.56 $0.50 $0.54 $
Slide 6: Consolidated Balance Sheets
VICI Q3 2021 Supplemental Financial & Operating Data Consolidated Balance Sheets (amounts in thousands, except share and per share data) 6 September 30, 2021 December 31, 2020 Assets Real estate portfolio: Investments in leases - sales-type, net 13,124,209$ 13,027,644$ Investments in leases - financ
Slide 7: Consolidated Balance Sheets – Quarterly
VICI Q3 2021 Supplemental Financial & Operating Data Consolidated Balance Sheets – Quarterly (amounts in thousands, except share and per share data) 7 September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 Assets Real estate portfolio: Investments in leases - sales-type and direct financi
Slide 8: Consolidated Statements of Operations
VICI Q3 2021 Supplemental Financial & Operating Data Consolidated Statements of Operations (amounts in thousands, except share and per share data) 1. Refer to Note 5 – Allowance for Credit Losses within our Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 for further details. 2
Slide 9: Consolidated Statements of Operations – Quarterly
VICI Q3 2021 Supplemental Financial & Operating Data Three Months Ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 Revenues Income from sales-type and direct financing leases 292,059$ 291,132$ 290,146$ 289,087$ Income from operating leases — — — — Income from lease financing r
Slide 10: Non-GAAP Financial Measures
VICI Q3 2021 Supplemental Financial & Operating Data Non‐GAAP Financial Measures 1. See definitions of Non-GAAP Financial Measures on page 25 of this presentation. 2. Includes swap breakage costs of approximately $64.2 million incurred by VICI PropCo in connection with the early settlement of the ou
Slide 11: Non-GAAP Financial Measures – Quarterly
VICI Q3 2021 Supplemental Financial & Operating Data 1. See definitions of Non-GAAP Financial Measures on page 25 of this presentation. 2. Includes swap breakage costs of approximately $64.2 million incurred by VICI PropCo in connection with the early settlement of the outstanding interest rate swap
Slide 12: Revenue Detail
VICI Q3 2021 Supplemental Financial & Operating Data 2021 2020 2021 2020 Contractual revenue from sales-type and direct financing leases Caesars Las Vegas Master Lease 100,652$ 90,181$ 301,956$ 216,805$ Caesars Regional Master Lease (excluding Harrah's NOLA, AC, and Laughlin) & Joliet Lease 126,603
Slide 13: Revenue Detail – Quarterly
VICI Q3 2021 Supplemental Financial & Operating Data Three Months Ended September 30, 2021 June 30, 2021 March 31, 2021 December 31, 2020 Contractual revenue from sales-type and direct financing leases Caesars Las Vegas Master Lease 100,652$ 100,652$ 100,652$ 100,052$ Caesars Regional Master Lease (
Slide 14: Current Annualized Contractual Rent and Income from Mortgage Loans
VICI Q3 2021 Supplemental Financial & Operating Data Assets Per Lease Locations Annualized Rent Annualized Contractual Rent Caesars Las Vegas Master Lease 2 Las Vegas $402.6 Caesars Regional Master Lease (including Harrah's NOLA, AC, and Laughlin) & Joliet Lease 17 Regional 640.0 Margaritaville Leas
Slide 15: 2021 Guidance
VICI Q3 2021 Supplemental Financial & Operating Data 2021 Guidance Updated Guidance Prior Guidance For the Year Ending December 31, 2021: Low High Low High Estimated Adjusted Funds From Operations (AFFO) $1,040.0 $1,045.0 $1,010.0 $1,035.0 Estimated Adjusted Funds From Operations (AFFO) per diluted
Slide 16: Capitalization
VICI Q3 2021 Supplemental Financial & Operating Data 1. Borrowings under the Revolving Credit Facility will bear interest at a rate based on a leverage-based pricing grid with a range of 1.75% to 2.00% over LIBOR, depending on our total net debt to adjusted total assets ratio. Commitment fees (0.375
Slide 17: Contractual Rent Diversification
VICI Q3 2021 Supplemental Financial & Operating Data Contractual Rent Diversification1 1. Pro forma for the pending acquisitions of MGM Growth Properties (including MGP’s pending acquisition of MGM Springfield) and the Venetian Resort, which are subject to customary closing conditions and regulatory
Slide 18: Properties Breakdown
VICI Q3 2021 Supplemental Financial & Operating Data Properties Breakdown 1. On September 3, 2020, VICI and Caesars entered into definitive agreements to sell Harrah’s Louisiana Downs for $22 million to a third party. The proceeds of the transaction shall be split ~$5.5 million to VICI and ~$16.5 mi
Slide 19: Properties Breakdown (Continued)
VICI Q3 2021 Supplemental Financial & Operating Data Properties Breakdown (Continued) Major MSAs Served Property Name Location Total Sq. Ft. (000s) Casino Sq. Ft. (000s) Meeting Sq. Ft. (000s) Slot Machines Table Games Hotel Rooms Philadelphia Caesars Atlantic City Atlantic City, NJ 3,816 113 29 2,1
Slide 20: Summary of Current Lease Terms
VICI Q3 2021 Supplemental Financial & Operating Data Summary of Current Lease Terms 1. Regional Master Lease consists of 17 Caesars properties leased from VICI and the Las Vegas Master Lease consists of Caesars Palace Las Vegas and Harrah’s Las Vegas. 2. Cash rent amounts are presented prior to acco
Slide 21: Summary of Current Lease Terms (Continued)
VICI Q3 2021 Supplemental Financial & Operating Data Summary of Current Lease Terms (Continued) 1. As amended on October 4, 2021. Commencing April 1, 2022, rent will increase by $1.8 million in connection with the funding of a new gaming patio amenity at JACK Thistledown Racino. 2. Starting in lease
Slide 22: Recently Announced Transaction Activity
VICI Q3 2021 Supplemental Financial & Operating Data Recently Announced Transaction Activity 1. On August 4, 2021, VICI entered into definitive agreements to acquire MGM Growth Properties’ 15 property portfolio for total consideration of $17.2 billion, subject to regulatory approvals, approval by th
Slide 23: Investment & Capital Markets Activities
VICI Q3 2021 Supplemental Financial & Operating Data Investment & Capital Markets Activities ($ in millions) Financing Activities Repaid Secured Term Loan B Facility • On September 15, 2021, repaid in full the $2.1 billion Term Loan B facility and terminated related swap agreements Unsecured Notes O
Slide 24: Embedded Growth Pipeline
VICI Q3 2021 Supplemental Financial & Operating Data Embedded Growth Pipeline Location / Jurisdiction Las Vegas Strip Anderson, IN Shelbyville, IN LV Strip Baltimore, MD New York, NY Danville, VA Casino Space Sq.Ft. 68,400 72,300 95,300 64,500 32,900 55,300 105,100 -- 122,000 -- -- # of Tables 70 11
Slide 25: Definitions of Non-GAAP Financial Measures
VICI Q3 2021 Supplemental Financial & Operating Data 25 Definitions of Non-GAAP Financial Measures FFO is a non-GAAP financial measure that is considered a supplemental measure for the real estate industry and a supplement to GAAP measures. Consistent with the definition used by the National Associa