Vici Properties Inc. (VICI)
Summary
Don't Double Down On VICI Properties: The Dealer Has Blackjack
VICI Properties receives a Sell (D+) rating due to an unfavorable cost of capital versus acquisition yields and limited per-share growth prospects. VICI's weighted average cost of capital is now 8%, while recent acquisitions yield only 7.5%, resulting in value destruction on new deals. Organic rent escalators average just 2.2–2.5% annually, insufficient to offset rising interest costs from refinancing $17B+ in debt.
Why Is VICI Properties (VICI) Down 2.1% Since Last Earnings Report?
VICI Properties (VICI) reported earnings 30 days ago. What's next for the stock?
VICI Properties: Rising Dividend At A Deep Discount
VICI Properties offers a 6.8% dividend yield with a consistent annual growth rate, supported by resilient experiential assets and long-term triple net leases. VICI is undervalued, trading at a significant discount to fair value, with multiple valuation models indicating 15.8%–22.95% expected compound annual total returns over five years. Growth prospects are strong, driven by new tenant partnerships, geographic expansion, and acquisitions, supporting a projected 5% CAGR in FFO and dividends.
Vici Properties Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 38,618 | $1.19M | $1.02M | -$168,325.46 | -14.11% |
| DI David Izzi Brown, LISLE/CUMMINGS Inc. | 3,900 | $113,547.63 | $102,765 | -$10,782.63 | -9.5% |
| LC Lisa Candera CIGNA INVESTMENTS Inc. /NEW | 10,212 | $308,823.86 | $269,086.2 | -$39,737.66 | -12.87% |
 Curtis Ellergodt Rothschild Investment LLC | 15,425 | $439,044.29 | $410,150.75 | -$28,893.54 | -6.58% |
 Tom McDonald Richards, MERRILL & PETERSON Inc. | 9,240 | $251,936.5 | $243,474 | -$8,462.5 | -3.36% |
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Vici Properties Inc. Profile
| Diversified REITs Industry | Real Estate Sector | Edward Baltazar Pitoniak CEO | NYSE Exchange | 925652109 CUSIP |
| US Country | 28 Employees | 18 Jun 2026 Last Dividend | - Last Split | 17 Oct 2017 IPO Date |
Overview
VICI Properties operates as an experiential real estate investment trust (REIT), possessing one of the most extensive portfolios in the gaming, hospitality, and entertainment sectors, highlighted by iconic assets such as Caesars Palace. This REIT has established a significant presence within the United States through a diverse and national portfolio that spans across various geographic locations. VICI Properties endeavors to cultivate the highest quality and most productive experiential real estate portfolio in the country, leveraging its strategic acquisitions and holdings to dominate the market. Its property collection is not just limited to gaming facilities but extends to include premier hotel accommodations, dining establishments, nightlife venues, and championship golf courses, setting a benchmark in the experiential property segment.
Products and Services
The extensive portfolio of VICI Properties includes a wide range of products and services, tailored to provide exceptional experiences in gaming, hospitality, and entertainment. Each aspect of their portfolio is designed to enhance their standing in the experiential real estate sector.
- Gaming Facilities
VICI Properties boasts 29 gaming facilities that span over 48 million square feet, catering to a wide audience with various gaming preferences. These facilities are leased to and operated by leading gaming corporations, ensuring top-notch gaming experiences across the board.
- Hotel Rooms
With approximately 19,200 hotel rooms under its umbrella, VICI Properties provides luxurious and comfortable accommodations. These rooms are part of their larger properties, often integrated into casino resorts that offer guests a comprehensive entertainment experience.
- Restaurants, Bars, and Nightclubs
More than 200 dining and nightlife venues are housed within VICI Properties' assets, offering a diverse array of culinary experiences and vibrant social environments. These venues range from casual dining options to high-end bars and clubs, catering to an extensive spectrum of preferences and occasions.
- Lease Agreements with Industry Leaders
VICI Properties’ properties are leased to some of the most reputable names in the gaming and hospitality industry, including Caesars Entertainment, Inc., Century Casinos Inc., Hard Rock International, JACK Entertainment, and Penn National Gaming, Inc. These partnerships ensure the properties are managed by operators with a proven track record of success and innovation.
- Golf Courses and Undeveloped Land
In addition to entertainment and hospitality venues, VICI Properties owns four championship golf courses, offering premium golfing experiences. The company also holds 34 acres of undeveloped land adjacent to the Las Vegas Strip, representing potential for future development and expansion projects, further enriching its portfolio.
