VICI

Vici Properties Inc.

Halal Rating :
Uncomfortable
Last Price $30.1
Market Cap $31.74b
1D Change

0.03 %

1 Year Change

3.4 %

Next Earnings Date

Yet to be announced

Company Overview

VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations. Its portfolio consists of 29 gaming facilities, over 48 million square feet and features approximately 19,200 hotel rooms.

Revenue Sources

Fail

VICI Properties generates its revenue primarily from rental income from casino properties. The company's business model involves leasing properties to casino operators, which means a significant portion of their revenue is derived from gambling operations. Since gambling is considered haram in Islamic finance, and this represents the core business model of the company, the revenue from haram sources significantly exceeds the 2.5% threshold.

Reliance on Interest

Reporting Date Total Revenue Total Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio
Sept. 30, 2024 $760.15m $207.32m $-200,000,000.0 $207.32m 26.91% 100.00%
June 30, 2024 $755.15m $205.78m $-200,000,000.0 $205.78m 26.73% 100.00%
March 31, 2024 $751.74m $204.88m $-200,000,000.0 $204.88m 26.55% 100.00%
Dec. 31, 2023 $735.59m $205.18m $-200,000,000.0 $205.18m 26.84% 100.00%

Based on the financial data for the last four quarters, VICI Properties has significant interest expenses relative to total expenses. The interest expense consistently represents a material portion of the company's total expenses, which is typical for REITs but problematic from an Islamic finance perspective.

Operational Ethics

Pass

Based on available information, there is no evidence of significant ongoing associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.

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