Green’s Dictionary of Slang

a promiscuous man, a womanizer.

1577		Misogonus in Farmer (1906) II iv: Disdain you Sir John? as good as you will have his company, As the fellowiest priest that in this shire; To all the lusty guts he is known for his honesty; Has not one drop of priests blood in him.
1583		P. Stubbes Anatomie of Abuses 92: The king anointed [...] a hundred lustie guttes.
1599		H. Porter Two Angry Women of Abington C3: Well lustie guts, I meane to make ye stay.
1603–37		N. Breton Fantastickes in Grosart (1879) II 33/2: While lustie-guts and his best beloued were casting Sheepes eyes at a Cods head.