Added to YB: 2026-08-19
Pitch date: 2026-08-18
VICI [bullish]
VICI Properties Inc.
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
$29.0B
Pitch Price
N/A
Price Target
N/A
Dividend
6.83%
EV/EBITDA
12.87
P/E
10.23
EV/Sales
11.47
Sector
Specialized REITs
Category
value
Long VICI Properties Inc. ($VICI)
VICI: Trophy experiential REIT (Caesars, MGM Grand, Venetian) on long-duration 3x-net leases w/ escalators, priced like challenged bond proxy at ~10.5x 2026 AFFO, ~6.9% yield (73% payout). Q2 rev +5.7%, AFFO/sh +4.6% to $0.62. 12-14x AFFO = $29.50-$34.50. Risks: cost of capital (equity deals hard to make accretive vs 7.5% cap rates), tenant concentration (MGM+Caesars ~72%, LV Strip ~49%). Improving diversification (16 tenants).
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