VICI Properties raises annual FFO forecast on experiential assets
April 30 (Reuters) - VICI Properties VICI.N raised forecast for 2025 adjusted funds from operations (FFO) on Wednesday, banking on its investments in experiential real estate.
The real estate investment trust now expects full-year adjusted FFO to range between $2.33 and $2.36 per share, compared with the previous forecast of $2.32 to $2.35 per share.
The company, whose portfolio includes casinos such as Caesars Palace CZR.O and MGM Grand MGM.N in Las Vegas, reported a quarterly adjusted FFO of $0.58 per share, compared with analysts' estimates of $0.61 per share, according to data compiled by LSEG.
VICI has shifted its investments toward experience-focused real estate, reflecting a broader trend in which consumers favour experiences over material goods.
In addition to its core casino holdings, the company has diversified its portfolio to include golf courses, indoor water parks, wellness resorts, and bowling alleys.
In February, the company announced a $300 million investment in a collaborative project in Beverly Hills that features a Hilton hotel along with high-end retail, dining and cultural experiences on campus.
Total revenue for the quarter ended March 31 was at $984.2 million, while analysts had, on average, expected revenue of $976.3 million, according to data compiled by LSEG.
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