Earnings summaries and quarterly performance for VICI PROPERTIES.
Executive leadership at VICI PROPERTIES.
Board of directors at VICI PROPERTIES.
Research analysts who have asked questions during VICI PROPERTIES earnings calls.
Anthony Paolone
JPMorgan Chase & Co.
4 questions for VICI
Also covers: ARE, BDN, BNL +29 more
Barry Jonas
Truist Securities
4 questions for VICI
Also covers: BALY, BYD, CHDN +15 more
David Katz
Jefferies Financial Group Inc.
4 questions for VICI
Also covers: AGS, BALY, BYD +34 more
Caitlin Burrows
Goldman Sachs
3 questions for VICI
Also covers: ALX, BNL, BRX +19 more
Chris Darling
Green Street
3 questions for VICI
Also covers: APLE, DRH, GLPI +6 more
John DeCree
CBRE
3 questions for VICI
Also covers: BYD, CZR, FLL +9 more
Daniel Guglielmo
Capital One
2 questions for VICI
Also covers: ARKO, CHDN, CZR +7 more
Greg McGinniss
Scotiabank
2 questions for VICI
Also covers: BRX, COLD, EPRT +14 more
James Kammert
Evercore ISI
2 questions for VICI
Also covers: ADC, ARE, CHCT +6 more
John Kilichowski
Wells Fargo & Company
2 questions for VICI
Also covers: ADC, CTRE, EPRT +15 more
Rich Hightower
Barclays
2 questions for VICI
Also covers: ADC, AMH, AVB +18 more
Ronald Kamdem
Morgan Stanley
2 questions for VICI
Also covers: AAT, ADC, AHR +36 more
Smedes Rose
Citigroup
2 questions for VICI
Also covers: ADC, DRH, EPR +16 more
Bennett Rose
Citigroup
1 question for VICI
Also covers: ADC, DRH, EPR +8 more
Cheryl Rollins
Wells Fargo
1 question for VICI
Dan Guglielmo
Capital One Financial Corporation
1 question for VICI
Also covers: ARKO, EPRT, GLPI +3 more
Haendel St. Juste
Mizuho Financial Group
1 question for VICI
Also covers: AAT, ADC, AIV +21 more
Jamie Feldman
Wells Fargo & Company
1 question for VICI
Also covers: AMH, ARE, AVB +17 more
Jenny Li
Morgan Stanley
1 question for VICI
Also covers: EXR, GLPI, PSA
Jeremy Kuhl
Goldman Sachs
1 question for VICI
Also covers: EXR, SAFE
Max Marsh
CBRE Group, Inc.
1 question for VICI
Also covers: FLUT, RHP
Nicholas Joseph
Citigroup
1 question for VICI
Also covers: AMH, ARE, CUBE +13 more
Ravi Vaidya
Mizuho
1 question for VICI
Also covers: AAT, CUBE, EXR +9 more
Recent press releases and 8-K filings for VICI.
VICI Properties declares Q4 2025 dividend amid market volatility
VICI
Dividends
- Declared a $0.45 quarterly dividend per share for October–December 2025, marking the eighth consecutive annual increase and a 4% year-over-year rise.
- Shares trading near their 52-week low at $27.70, offering a 6.4% dividend yield.
- Maintains strong profitability with a 92.6% operating margin and 70.18% net margin.
- Faces analyst concerns about the Caesars regional gaming lease, posing a potential risk to future earnings.
4 days ago
VICI Properties plans $1.16B acquisition of Golden Entertainment casinos
VICI
M&A
New Projects/Investments
- VICI Properties will acquire the land and real estate of seven Nevada casino properties from Golden Entertainment in a $1.16 billion sale-leaseback deal.
- Golden shareholders will receive ≈0.9 VICI share plus $2.75 cash per Golden share, reflecting a 41% premium.
- The assets will be leased back under a 30-year triple-net master lease with starting annual rent of $87 million, escalating 2% from lease year three.
- VICI will assume and repay $426 million of Golden’s debt; the transaction is expected to close in mid-2026.
- The acquired portfolio includes over 6,000 hotel rooms, 362,000 sq ft of casino space, 4,306 slot machines, and 78 table games.
Nov 7, 2025, 1:50 AM
VICI Properties to enter sale-leaseback of Golden Entertainment real estate
VICI
M&A
Debt Issuance
- Golden Entertainment will sell its operating assets to Blake Sartini and lease back seven casino real estate assets to VICI Properties. Golden shareholders receive 0.902 shares of VICI stock plus $2.75 cash per Golden share, valuing the deal at $30.00 per share (41% premium).
- VICI will assume and repay up to $426 million of Golden’s outstanding senior secured debt, while Santander provides debt financing to support Sartini’s cash consideration.
- The transaction, unanimously approved by Golden’s independent committee, includes a “go-shop” period through December 5, 2025, and is expected to close mid-2026, subject to regulatory and shareholder approvals.
Nov 6, 2025, 1:00 PM
VICI Properties reports Q3 2025 results
VICI
Earnings
Guidance Update
M&A
- AFFO per share of $0.60, up 5.3% year-over-year from $0.57.
- Declared a quarterly dividend of $0.45 per share, a 4% increase and the eighth consecutive annual raise.
- Raised 2025 AFFO guidance to $2.36–$2.37 per diluted share, boosting the lower end by $0.01 and implying 4.6% per-share growth.
- Agreed a new triple-net lease with Clairvest for Northfield Park, setting initial annual base rent at $53 million (or $54 million if closing on/after May 1, 2026); MGM master-lease rent will decrease by the same amount, leaving total rent unchanged.
- Maintained strong liquidity with $17.1 billion total debt, net debt to annualized Q3 adjusted EBITDA of ~5× (low end of target range), and a weighted-average interest rate of 4.47% over 6.2 years to maturity.
Oct 31, 2025, 2:00 PM
VICI Reports Q3 2025 Earnings and Updates
VICI
Earnings
Guidance Update
M&A
- AFFO per share of $0.60, a 5.3% increase year-over-year for Q3 2025 vs Q3 2024.
- Declared a $0.45 quarterly dividend, up 4% — marking VICI’s eighth consecutive annual increase.
- 2025 AFFO guidance raised to $2.36–$2.37 per share, implying 4.6% year-over-year growth at midpoint.
- Strengthened liquidity: settled 12.1 M shares for $376 M, repaid $175 M of credit facility; total debt $17.1 B, net debt/EBITDA ~5×, W.A. interest rate 4.47%, maturity 6.2 years.
- Post-quarter, added 14th tenant, Clairvest, via a new triple-net lease at MGM Northfield Park with $53 M of annual base rent, leaving VICI’s total rent unchanged.
Oct 31, 2025, 2:00 PM
VICI reports Q3 2025 earnings
VICI
Earnings
Guidance Update
Dividends
- Portfolio of 54 gaming properties, 39 other experiential properties, and 4 golf courses with 100% occupancy, a 40.0-year weighted average lease term, and 79% of rent from public tenants.
- Q3 2025 results: Net income attributable to common stockholders of $762.0 million, diluted EPS of $0.71, FFO per share of $0.71, AFFO per share of $0.60, and a 5.5% dividend yield.
- Strong balance sheet: Total assets of $46.5 billion, net debt of $16.8 billion, and an LQA net leverage ratio of 5.0×.
- Guidance update: 2025 AFFO expected at $2,510–2,520 million or $2.36–2.37 per diluted share.
Oct 31, 2025, 2:00 PM
VICI reports Q3 2025 results
VICI
Earnings
Guidance Update
Dividends
- AFFO per share was $0.60, up 5.3% YoY from $0.57 in Q3 2024.
- Updated 2025 AFFO guidance to $2.36–2.37 per diluted share, implying 4.6% YoY per-share growth at the midpoint.
- Declared a $0.45 dividend per share, a 4% increase and eighth consecutive annual raise.
- Added 14th tenant (Clairvest) for MGM Northfield Park with initial rent of $53 M (or $54 M post-May 1, 2026); no net change to total rent collected.
- Leverage: $17.1 B total debt; net debt/annualized Q3 EBITDA ~5×; weighted avg. interest rate 4.47%, maturity 6.2 years.
Oct 31, 2025, 2:00 PM
VICI Properties announces Q3 2025 results
VICI
Earnings
Dividends
Guidance Update
- Total revenues rose 4.4% year-over-year to $1.0 billion for the quarter ended September 30, 2025.
- Net income attributable to common stockholders increased 4.0% to $762.0 million, or $0.71 per diluted share, up 2.0% year-over-year.
- AFFO attributable to common stockholders grew 7.4% to $637.6 million, with AFFO per share up 5.3% to $0.60.
- Declared a quarterly cash dividend of $0.45 per share, a 4.0% year-over-year increase.
- Updated full-year 2025 AFFO guidance to $2,510 million–$2,520 million ($2.36–$2.37 per diluted share).
Oct 30, 2025, 8:15 PM
VICI Properties Q1 2025 Highlights Earnings Call
VICI
Earnings
Debt Issuance
Guidance Update
- Dividend Sustainability remains a top priority, with management emphasizing maintaining and growing cash distributions despite market volatility.
- The company announced a new relationship with Red Rock Resorts for developing a tribal casino, backed by a $725 million delayed draw term loan at a blended yield of SOFR around 7%, with an initial draw of $75 million.
- VICI successfully refinanced its balance sheet by addressing all 2025 maturities, issuing $400 million of 3-year notes and $900 million of 10-year notes, extending credit facility maturity to 2029 and achieving a weighted average interest rate of 4.47%.
- AFFO performance was strong with Q1 AFFO per share at $0.58 and raised 2025 guidance to between $2.47 billion and $2.5 billion (or $2.33 to $2.36 per diluted share), reflecting an expected year-over-year growth of 3.8%.
May 1, 2025, 2:01 PM
VICI Properties Announces Q1 2025 Results
VICI
Earnings
New Projects/Investments
Debt Issuance
- Total revenues increased by 3.4% year-over-year to $984.2 million in Q1 2025, reflecting solid performance.
- Net income attributable to common stockholders fell by 7.9% to $543.6 million, while AFFO rose by 5.6% to $616.0 million with AFFO per share at $0.58.
- The company established a new strategic relationship with Cain International and Eldridge Industries via a $300 million mezzanine loan for One Beverly Hills and entered an agreement to provide up to $510 million for the development of a tribal casino managed by Red Rock Resorts.
- Additionally, VICI completed a $1.3 billion Investment Grade Senior Notes Offering and launched a new $2.5 billion multicurrency revolving credit facility, strengthening its liquidity and balance sheet.
Apr 30, 2025, 12:00 AM
Quarterly earnings call transcripts for VICI PROPERTIES.
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