VICI Properties Inc (NYSE: VICI) posted mixed results for the first quarter of FY 19. VICI has reported the adjusted Funds From Operations (“AFFO”) attributable to common stockholders was $151.5 million for the quarter ended March 31, 2019, compared to $124.7 million, for the quarter ended March 31, 2018.

Moreover, VICI has signed two interest rate swap transactions having an aggregate notional amount of $500.0 million with an effective date of January 22, 2019 and a termination date of January 22, 2021. These transactions effectively fix the LIBOR component of the interest rate on $500 million of the outstanding debt under the Company’s Term Loan B Facility at a blended rate of 2.38%. After the effectiveness of these swap transactions and taking into account the previously existing swap agreements, approximately 98% of the Company’s debt is effectively fixed-rate debt and approximately 2% is variable-rate debt. During the first quarter ended March 31, 2019 the company had sold approximately 6.1 million shares of common stock under its at-the-market offering program at a weighted-average price of $21.28 per share for aggregate net proceeds, after fees and expenses, of $128.1 million

VICI in the first quarter of FY 19 has reported the adjusted earnings per share of 37 cents, beating the analysts’ estimates for the adjusted earnings per share of 36 cents. The company had reported the adjusted revenue growth of 6.5 percent to $214 million in the first quarter of FY 19, beating the analysts’ estimates for revenue of $224.72 billion.

Additionally, VICI has completed the previously announced acquisition of the land and real estate assets of the Margaritaville Resort Casino, located in Bossier City, Louisiana, for $261.1 million in cash, with Penn National Gaming Inc. and has acquired the operating assets of the Margaritaville Resort Casino for approximately $114.9 million in cash. Meanwhile, a subsidiary of Penn National entered into a triple-net lease with a subsidiary of the Company. The lease has an initial total annual rent of approximately $23.2 million and an initial term of 15 years, with four five-year tenant renewal options.

In addition, VICI and Seminole Hard Rock Entertainment, Inc. have signed  the definitive agreements to acquire the JACK Cincinnati Casino, located in downtown Cincinnati, Ohio. Pursuant to the agreements, VICI Properties will acquire 100% of the membership interests of a subsidiary of JACK Cincinnati that owns the land and real estate assets of JACK Cincinnati for $558.3 million, and Hard Rock will acquire the operating assets of JACK Cincinnati for $186.5 million.