Oct 30 (Reuters) - VICI Properties VICI.N raised the lower end of its 2025 adjusted funds from operations forecast on Thursday, banking on its investments in experiential real estate.
The company uses a sale-leaseback model, acquiring existing real estate assets and leasing them back to operators, often delivering an immediate increase in income.
Its portfolio, which includes casinos such as Caesars Palace CZR.O and MGM Grand MGM.N in Las Vegas, is in sync with growing consumer preference for experiences over goods.
Beyond casinos, the REIT has diversified into leisure and entertainment assets, including bowling alleys, wellness resorts, indoor water parks and golf courses.
The company reported a third-quarter adjusted FFO of 60 cents per share, marginally above analysts' estimates of 59 cents per share, according to data compiled by LSEG.
It now expects its full-year adjusted FFO to range between $2.36 and $2.37 per share, from its earlier projection of $2.35 to $2.37 apiece.
Total revenue for the quarter ended September 30 stood at $1 billion, marking a 4.4% increase from last year and in line with estimates.
(Reporting by Aishwarya Jain and Utkarsh Shetti in Bengaluru; Editing by Alan Barona)
((Aishwarya.Jain@thomsonreuters.com))