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This statistic highlights Vici Properties’ Revenue by Segment, split between Golf revenues, Income from lease financing receivables and loans, Income from operating leases, Income from sales-type and direct financing leases, and other income.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Income from lease financing receivables and loans||$52.82||$69.99||$70.21||19%|
|Income from operating leases||$3.64||–||–||–|
|Income from sales-type and direct financing leases||$270.27||$291.13||$292.05||78%|
(All figures in millions, except percentages)
The total revenue of Vici Properties stood at $375.70 million in Q3 2021, which marks a 10.60% increase when compared with the revenue made in Q3 2020, which was $339.64 million. The total revenue in Q2 2021 stood at $376.38 million.
The revenue contribution of this segment comes from activities related to the company’s Golf Course Use Agreement, and is recognised as “Revenue from Contracts with Customers.” Additional revenues come from golf course operations, food and beverage sales, and item sales that are reported net of sales tax. Revenue from golf operations increased from $5.64 million in Q3 2020 to $6.51 million in Q3 2021, increasing by 15.42%. However, it has declined by 21.37% between Q2 2021 and Q3 2021. This segment contributed 1.7% to the total revenue in Q3 2021.
Income from lease financing receivables and loans
This segment recognises associated income from the company’s sales-type leases, direct financing leases, and lease financing receivables. Income from lease financing receivables and loans has gone up by 32.92% between Q3 2020 and Q3 2021, when the revenue contribution from this segment was $52.82 million and $70.21 million, respectively. It has increased from $69.99 million in Q2 2021 to $70.21 million in Q3 2021. This segment has contributed 18.68% to the total revenue.
Income from operating leases
The last revenue contribution from the Operating Leases segment was $3.64 million in Q3 2020. Vici Properties discontinued this segment from Q2 2021 onwards.
Income from sales-type and direct financing leases
If the lease component of the company is categorised as a sales-type lease or direct financing lease, then the income earned from it is categorised in this particular segment. This segment of Vici Properties has been on a constant rise; in the latest quarter of Q3 2021 it stands at $292.05 million, which is 8.05% higher than the revenue contribution of Q3 2020, which was $270.27 million. The segment recently witnessed a quarterly increase of $0.92 million when compared to Q2 2021. It is the highest revenue-generating segment of the company as it contributed 77.72% to the total revenue in Q3 2021.
Other income primarily consists of sublease income related to particular ground and use leases, the cost of which is handed to the company’s tenants through the Lease Agreements. These proceeds and the concerned expenses are recorded on a gross basis. The other income segment declined from $7.27 million to $6.93 million between Q3 2020 and Q3 2021, resulting in a decrease of 4.7%. However, it has been constant at around $6.9 million in the last few quarters.
Vici Properties is a Maryland corporation that is concerned with the business of owning and obtaining gaming, hospitality, and entertainment destinations. The company is in a business of long-term triple net leases. Its geographically varied portfolio comprises 28 market-foremost properties. Vici Properties also owns and controls four championship golf courses. The company conducts its real property business through its Operating Partnership and its golf course business, through a taxable REIT (Real Estate Investment Trust) subsidiary, which is known as VICI Golf. Vici Properties’ common stock is listed on the NASDAQ with the ticker symbol ‘VICI’.
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