• VICI Properties average operating margin for 2023 was 84.16%, a 27.28% increase from 2022.
• VICI Properties average operating margin for 2022 was 66.12%, a 27.19% increase from 2021.
• VICI Properties average operating margin for 2021 was 90.81%, a 18.33% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.