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VICI 
VICI Properties Inc (VICI)
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Upturn Advisory Summary
01/09/2026: VICI (2-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
24 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $35.35
1 Year Target Price $35.35
| 14 | Strong Buy |
| 7 | Buy |
| 3 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -5.92% | Avg. Invested days 29 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 29.67B USD | Price to earnings Ratio 10.56 | 1Y Target Price 35.35 |
Price to earnings Ratio 10.56 | 1Y Target Price 35.35 | ||
Volume (30-day avg) 24 | Beta 0.72 | 52 Weeks Range 26.61 - 33.01 | Updated Date 01/10/2026 |
52 Weeks Range 26.61 - 33.01 | Updated Date 01/10/2026 | ||
Dividends yield (FY) 6.27% | Basic EPS (TTM) 2.63 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 70.18% | Operating Margin (TTM) 97.67% |
Management Effectiveness
Return on Assets (TTM) 5.01% | Return on Equity (TTM) 10.36% |
Valuation
Trailing PE 10.56 | Forward PE 9.61 | Enterprise Value 46842857658 | Price to Sales(TTM) 7.48 |
Enterprise Value 46842857658 | Price to Sales(TTM) 7.48 | ||
Enterprise Value to Revenue 11.8 | Enterprise Value to EBITDA 12.72 | Shares Outstanding 1068811371 | Shares Floating 1064279611 |
Shares Outstanding 1068811371 | Shares Floating 1064279611 | ||
Percent Insiders 0.27 | Percent Institutions 100.41 |
Upturn AI SWOT
VICI Properties Inc
Company Overview
History and Background
VICI Properties Inc. was formed in 2017 as a real estate investment trust (REIT) spun off from Caesars Entertainment Corporation. Its primary purpose was to own and lease a portfolio of large-scale gaming, hospitality, and entertainment facilities. Since its inception, VICI has focused on acquiring and owning iconic properties, establishing itself as a leading owner of entertainment facilities in the United States.
Core Business Areas
- Casino and Entertainment Properties: VICI Properties is primarily engaged in owning and leasing a portfolio of large-scale, often iconic, casino and entertainment properties. These properties are leased to experienced operators under long-term, triple-net lease agreements, providing stable and predictable revenue streams. The lease agreements typically include provisions for rent escalations.
- Real Estate Portfolio Management: VICI's core business involves managing its extensive real estate portfolio, including acquisitions, asset management, and tenant relations. The company seeks to acquire high-quality, well-located properties that generate consistent cash flow.
Leadership and Structure
VICI Properties Inc. is led by a seasoned management team with extensive experience in real estate, gaming, and finance. The company operates as a REIT, which generally has a board of directors overseeing the executive management team. Key leadership roles typically include a CEO, CFO, and various heads of departments responsible for acquisitions, asset management, and investor relations.
Top Products and Market Share
Key Offerings
- Triple-Net Leased Properties: VICI's primary 'product' is its portfolio of real estate assets leased under triple-net agreements. These agreements generate rental income for VICI and transfer most property-related expenses (taxes, insurance, maintenance) to the tenant. The company's market share in this niche is significant, as it is one of the largest owners of casino real estate. Competitors would include other REITs focused on entertainment or specialized real estate, as well as institutional investors.
Market Dynamics
Industry Overview
VICI operates in the real estate investment trust (REIT) sector, specifically focusing on casino and entertainment properties. This industry is influenced by consumer spending on entertainment and gaming, interest rate environments, and the health of the hospitality sector. The demand for well-located, high-quality entertainment venues remains strong, driven by brand recognition and operational expertise of tenants.
Positioning
VICI Properties Inc. is a leading owner of gaming and entertainment properties in the U.S. Its competitive advantages include its large-scale, diversified portfolio of iconic assets, long-term lease agreements with creditworthy tenants, and a strong track record of accretive acquisitions. The company benefits from the inelastic demand for entertainment and gaming experiences.
Total Addressable Market (TAM)
The total addressable market for casino and entertainment real estate is substantial, encompassing all significant gaming and entertainment venues. While difficult to quantify precisely, it involves billions of dollars in real estate value. VICI is well-positioned within this TAM due to its substantial existing portfolio and its ability to acquire new, high-quality assets.
Upturn SWOT Analysis
Strengths
- Diversified portfolio of high-quality, iconic gaming and entertainment properties.
- Long-term, triple-net lease agreements providing stable and predictable revenue.
- Experienced management team with deep industry knowledge.
- Strong relationships with major gaming and entertainment operators.
- Access to capital markets for future growth and acquisitions.
Weaknesses
- Concentration risk on a few major tenants.
- Dependence on the performance of the gaming and hospitality industries.
- Potential for tenant defaults or lease renegotiations.
- Sensitivity to interest rate fluctuations impacting financing costs.
Opportunities
- Acquisition of new gaming and entertainment properties.
- Expansion into new geographic markets or entertainment verticals.
- Leveraging existing tenant relationships for new ventures or property expansions.
- Potential for rent escalations and lease renewals.
- Opportunities for development and redevelopment of existing properties.
Threats
- Economic downturns impacting consumer discretionary spending.
- Increased competition from new gaming and entertainment venues.
- Changes in gaming regulations or tax laws.
- Tenant financial distress or bankruptcy.
- Natural disasters or unforeseen events affecting property operations.
Competitors and Market Share
Key Competitors
- CRAIG REALTY GROUP LLC (CREG)
- BROOKFIELD PROPERTIES
Competitive Landscape
VICI Properties holds a strong position in the market for casino and entertainment real estate due to its scale and portfolio quality. Its primary advantages are its long-term leases with top-tier operators, providing stability and predictability, and its ability to execute large-scale acquisitions. Competitors may focus on different property types or have a more localized geographic focus.
Major Acquisitions
The Venetian Resort Las Vegas and The Palazzo
- Year: 2021
- Acquisition Price (USD millions): 4000
- Strategic Rationale: The acquisition of The Venetian and The Palazzo significantly expanded VICI's presence on the Las Vegas Strip, adding iconic, high-performing assets to its portfolio and diversifying its tenant base with Apollo Global Management.
Apollo Global Management's Gaming Portfolio
- Year: 2022
- Acquisition Price (USD millions): 1700
- Strategic Rationale: This acquisition further diversified VICI's tenant roster and geographic footprint by acquiring a portfolio of gaming and entertainment properties across multiple states.
Growth Trajectory and Initiatives
Historical Growth: VICI Properties has experienced robust growth since its inception, largely through strategic acquisitions of prime gaming and entertainment assets. The company has consistently expanded its portfolio, increasing its revenue and FFO year over year.
Future Projections: Analyst projections for VICI's future growth often focus on its continued ability to acquire accretive assets and benefit from contractual rent escalations in its existing leases. Growth is expected to be driven by further portfolio expansion and disciplined capital allocation.
Recent Initiatives: Recent initiatives by VICI Properties Inc. have likely included the acquisition of new properties, refinancing of debt to optimize capital structure, and potential partnerships to enhance its portfolio or tenant offerings.
Summary
VICI Properties Inc. is a strong and stable REIT with a well-established portfolio of iconic gaming and entertainment properties. Its long-term triple-net leases provide predictable revenue, and its experienced management team has a proven track record of accretive acquisitions. The company is well-positioned to capitalize on the growing demand for entertainment experiences. However, it remains susceptible to broader economic downturns affecting consumer spending and tenant financial health.
Similar Stocks
Sources and Disclaimers
Data Sources:
- VICI Properties Inc. Investor Relations Filings (SEC Edgar Database)
- Financial News Outlets (e.g., Bloomberg, Reuters)
- Industry Analysis Reports
Disclaimers:
This information is for informational purposes only and does not constitute financial advice. Investment decisions should be made after consulting with a qualified financial advisor and conducting independent research. Market share data is an estimation and subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About VICI Properties Inc
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 2017-10-17 | CEO & Director Mr. Edward Baltazar Pitoniak | ||
Sector Real Estate | Industry REIT - Diversified | Full time employees 27 | Website https://www.viciproperties.com |
Full time employees 27 | Website https://www.viciproperties.com | ||
VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading developers and operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, Kalahari Resorts and Lucky Strike Entertainment. VICI Properties also owns four championship golf courses and approximately 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties' goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.
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