VICI Properties Inc. Begins Construction on One Beverly Hills in 2024; Phased Delivery Set to Start in 2027

Written by Emily J. Thompson, Senior Investment Analyst

Source: moomoo

Updated: Mar 23 2026

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VICI+1.88%

Should l Buy VICI?

Source: moomoo

Construction Start: Construction for VICI Properties in Beverly Hills has commenced in 2024.
Delivery Timeline: The phased delivery of the project is set to begin in 2027.

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Analyst Views on VICI

Wall Street analysts forecast VICI stock price to rise

12 Analyst Rating

7 Buy

5 Hold

0 Sell

Moderate Buy

Current: 27.110

Low

30.00

Averages

33.70

High

38.00

Current: 27.110

Low

30.00

Averages

33.70

High

38.00

Mizuho

NULL -> Neutral

downgrade

$30

2026-03-12

Reason

Mizuho

Price Target

$30

AI Analysis

2026-03-12

downgrade

NULL -> Neutral

Reason

Mizuho says shares of VICI Properties (VICI) moved lower yesterday after the Wall Street Journal reported Tilman Fertitta is in talks to acquire Caesars Entertainment (CZR). VICI has Caesars as its largest tenant as 39% of its rent, the analyst tells investors in a research note. Mizuho points out that the article implied VICI has the ability to act as a "roadblock" to any acquisition for its tenants. Management, however, confirmed this is not accurate and that VICO has no veto power over an acquisition, unless the acquisition is contingent on modifications of Caesars leases with VICI, says Mizuho. At this point, there is nothing suggesting Fertitta's offer is contingent on lease modifications, adds the firm. In addition, the analyst believes an acquisition of Caesars by Fertitta would be perceived as a tenant credit downgrade from investors because Fertitta is highly levered and would impact VICI's broader tenant credit quality. Mizuho downgraded VICI yesterday to Neutral with a $30 price target.

Mizuho

Outperform -> Neutral

downgrade

$30

2026-03-11

Reason

Mizuho

Price Target

$30

2026-03-11

downgrade

Outperform -> Neutral

Reason

Mizuho downgraded VICI Properties to Neutral from Outperform with an unchanged price target of $30. The firm cites valuation for the downgrade. At the current stock price, VICI offers less relative opportunity for outperformance, the analyst tells investors in a research note.

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About VICI

VICI Properties Inc. is a real estate investment trust (REIT). The Company is engaged in the business of owning and acquiring gaming, hospitality, wellness, entertainment and leisure destinations, subject to long-term triple net leases. The Company own 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas (the Venetian Resort). The portfolio comprises over 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by gaming, leisure and hospitality operators under long-term, triple-net lease agreements. The Company also owns four championship golf courses and approximately 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

VICI Properties Inc. Reveals Sale-Leaseback of Canadian Portfolio Linked to Pure Casino Entertainment's Purchase of Gamehost

1 day agomoomoo

Company Announcement: VICI Properties Inc. has announced a sale-leaseback transaction involving a Canadian portfolio.
Partnership Details: The transaction is in connection with Pure Casino Entertainment, which has acquired the game host rights.

VICI Properties Stock Decline Analysis

3 days agoNASDAQ.COM

Stock Performance: VICI Properties Inc. closed at $26.61, reflecting a 2.03% decline from the previous day, underperforming against the S&P 500's 1.67% drop, indicating market concerns about its future performance.
Monthly Returns: Over the past month, VICI's stock has decreased by 8.8%, failing to keep pace with the Finance sector's 8% decline and the S&P 500's 6.15% drop, highlighting the company's relative weakness in the industry.
Earnings Expectations: VICI is expected to report an EPS of $0.61 in its upcoming earnings release, representing a 5.17% year-over-year increase, while revenue is projected at $1.02 billion, a 3.94% increase, suggesting potential growth in profitability.
Valuation Analysis: Currently, VICI has a forward P/E ratio of 11.11, which is below the industry average of 11.29, indicating relative attractiveness in the current market, although its PEG ratio of 3.12 exceeds the industry average of 2.33, prompting investors to carefully assess its growth outlook.

One Beverly Hills Secures $4.3 Billion Financing for Luxury Development

Mar 23 2026Newsfilter

Massive Financing: One Beverly Hills announced a $4.3 billion financing led by J.P. Morgan and VICI Properties, marking one of the largest deals in the past decade, reflecting strong market confidence in the project's vision.
Large-Scale Development: Spanning 17.5 acres, the project will introduce Aman's first urban residences, hotel, and members' club, integrating retail, hospitality, wellness, and leisure concepts, aiming to redefine luxury living in Beverly Hills.
Significant Economic Impact: The development is expected to generate approximately $40 billion in local economic activity over 30 years and support over 2,700 direct construction jobs, further stimulating the local economy.
Strong Brand Partnerships: The project has attracted commitments from globally renowned hospitality and retail brands, including Dolce&Gabbana and Casa Tua Cucina, showcasing the appeal of the Beverly Hills market and the uniqueness of the project.

VICI Properties Expands $1.5 Billion Mezzanine Loan for One Beverly Hills

Mar 23 2026Newsfilter

Strategic Relationship Expansion: VICI Properties has expanded its long-term strategic relationship with Cain and Eldridge Industries by providing a $1.5 billion mezzanine loan, which is part of a $2.8 billion senior loan commitment, demonstrating VICI's strong confidence in the One Beverly Hills project and expected to drive further growth in the luxury real estate market.
Project Scale and Impact: One Beverly Hills is a landmark 17.5-acre luxury mixed-use project that will feature Aman's first West Coast hotel and high-end residences, anticipated to become one of the most significant destinations in North America, thereby enhancing VICI's brand influence in the premium market.
Financing Structure and Timeline: The mezzanine loan has an initial term of four years with a 12-month extension option, with funds allocated monthly to ensure liquidity for project construction, and phased delivery is expected to commence in 2027, further solidifying VICI's market position.
Future Investment Opportunities: VICI, Cain, and Eldridge Industries plan to deepen their strategic relationship through a non-binding letter of intent to explore joint investment opportunities in the experiential economy, indicating a closer collaboration in future investment activities that could yield new revenue growth points.