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VICI Properties Inc.

VICI

VICI Properties is a leading experiential real estate investment trust (REIT) specializing in the ownership and acquisition of premier gaming, hospitality, and entertainment destinations.

Market cap
$27B-16.3%
Revenue$4.2B+4.7%
Net income$2.3B-15.8%
Free cash flow$2.7B+9.9%
EPS (diluted)$2.17-17.2%
Trailing twelve months · change vs. prior year

Earnings

Next report

Date not yet announced

Financials

Q3 2026

Income statement

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Revenue$1.1B+5.8%
Gross profit$1.1B+5.8%
Net income$342.5M-55.1%
EPS (diluted)$0.31-56.3%

Balance sheet

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Cash & equivalents$270.3M-46.7%
Total debt$17.8B-8.2%
Total equity$29.0B+4.8%
Total assets$48.1B+3.3%

Cash flow

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Operating cash flow$655.2M+11.8%
CapEx$2.7M+1,220%
Free cash flow$652.5M+11.3%

Valuation & ratios

Valuation

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Market cap$27B-16.3%
Enterprise value$44.53B-11.6%
P/E11.5×+0.2×
P/S6.5×-1.4×

Profitability

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Gross margin99.3%0.0pp
Net margin56.5%-13.7pp
FCF margin65.1%+3.1pp

Returns & leverage

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Return on equity8.3%-2.1pp
Debt / equity0.6×-0.1×

Competitors

Profile

VICI Properties is a leading experiential real estate investment trust (REIT) specializing in the ownership and acquisition of premier gaming, hospitality, and entertainment destinations. The company utilizes a long-term triple-net lease model to provide stable income and growth, partnering with top-tier operators to manage iconic assets across North America.

Competitive position

VICI is a dominant owner of iconic Las Vegas Strip assets and one of the largest triple-net lease REITs focused on the experiential sector.

GeographiesUnited States, Canada
Customer segmentsEnterprise Hospitality Operators, Gaming Corporations, Wellness and Leisure Brands
Business modelTriple-Net Lease (NNN), Real Estate Investment Trust, Asset-heavy Ownership
SuppliersCapital Markets, Commercial Real Estate Developers, Construction and Maintenance Services
CustomersGaming and Casino Operators, Hotel and Resort Management Companies, Entertainment and Wellness Brands
Listed2017
Employees28.0
CEOEdward Baltazar Pitoniak
FilingsSEC EDGAR

FAQ

What is VICI Properties Inc.'s market cap?
VICI Properties Inc. (VICI) has a market capitalization of $27.0B and trades on NYSE.
What is VICI Properties Inc.'s revenue and profitability?
VICI Properties Inc. generated $4.2B in trailing twelve-month revenue with net income of $2.3B, representing a net margin of 56.5%. Gross margin stands at 99.3%, with free cash flow of $2.7B. The latest reported period is Q3 2026.
Who are VICI Properties Inc.'s competitors?
VICI Properties Inc.'s key competitors include Gaming and Leisure Properties, Inc., EPR Properties, Realty Income Corporation, and others. These companies compete in similar markets and product categories.
Who does VICI Properties Inc. partner with?
VICI Properties Inc.'s notable partners include Caesars Entertainment, Inc., MGM Resorts International, Apollo Global Management, and others.
What subsidiaries does VICI Properties Inc. have?
VICI Properties Inc.'s subsidiaries include VICI Properties L.P., VICI Golf LLC.
Where is VICI Properties Inc. headquartered?
VICI Properties Inc. is headquartered in United States of America and employs approximately 28 people. It has been publicly traded since 2017.