Added to YB: 2026-04-01
Pitch date: 2026-03-29
VICI [bearish]
VICI Properties Inc.
-2.17%
current return
Author Info
No bio for this author
Company Info
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.
Market Cap
$28.4B
Pitch Price
$26.74
Price Target
N/A
Dividend
6.76%
EV/EBITDA
12.56
P/E
10.20
EV/Sales
11.48
Sector
Specialized REITs
Category
N/A
VICI: Lease Coverage Problems
VICI (short): CZR lease coverage abysmal, regional master lease likely significantly FCF negative for CZR. Inflation-linked rents + economically sensitive EBITDAR = disaster in stagflation. VICI likely needs to cut >$100M rent from CZR lease but foolish to take properties back (dissynergies from CZR network removal). Problems likely worsening.
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