Vici Properties Inc. VICI

What this company does

VICI Properties Inc. owns and acquires gaming, hospitality, wellness, entertainment and leisure destinations, which it leases under long-term triple net leases. As of December 31, 2025, it owned 93 experiential assets across the United States and Canada, consisting of 54 gaming properties and 39 other experiential properties, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas. These properties span approximately 127 million square feet across twenty-six states and Canada, and include approximately 60,300 hotel rooms and more than 500 restaurants, bars, nightclubs and sportsbooks. As of December 31, 2025, its properties were 100% leased, with a weighted average lease term, including extension options, of approximately 39.6 years. Caesars and MGM accounted for approximately 39% and 35%, respectively, of its annualized rent as of December 31, 2025. As of December 31, 2025, the company employed 28 employees, all of whom were full-time. It conducts its real property business through VICI OP and its golf course business through a taxable REIT subsidiary, VICI Golf LLC. VICI Properties Inc. was initially organized as a limited liability company in Delaware on July 5, 2016, as a wholly owned subsidiary of Caesars Entertainment Operating Company, Inc., and converted to a corporation under the laws of Maryland on May 5, 2017.

Written from the business description in VICI PROPERTIES INC.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.