VICI Properties Reports Q1 Revenue of $1.02B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Reports Q1 revenue $1.02B, consensus $1.02B. Edward Pitoniak, Chief Executive Officer of VICI Properties, said, "In the first quarter of 2026, we grew our quarterly revenue by 3.5% and our AFFO per share by approximately 4.5% year-over-year, reflecting the continued compounding of our business model. This quarter demonstrated what we believe to be one of VICI's most durable competitive advantages: the ability to grow through deepening relationships with our existing partners. Our expansion of the One Beverly Hills mezzanine loan to $1.5 billion alongside Cain and Eldridge and our pending acquisition of casino real estate in Alberta in connection with PURE's acquisition of Gamehost each represent second and third chapters in partnerships that began with a single investment. As we look ahead to the expected closings of our Golden Entertainment and Gamehost transactions, we remain confident that VICI's partner-driven model will continue to generate attractive, sustained growth for our shareholders."
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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: 28.330
Low
30.00
Averages
33.70
High
38.00
Current: 28.330
Low
30.00
Averages
33.70
High
38.00
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.
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- Strong Market Position: As a gambling-focused REIT, VICI owns 61 gambling locations and 39 non-gambling entertainment properties, achieving 100% occupancy across its portfolio, which strengthens its competitive edge in the market.
See More
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- New Investment Initiatives: Cohen & Steers initiated a position in NNN REIT with 245,403 shares valued at $10.3 million and invested $1.3 million in Sabra Health Care REIT, further diversifying its investment portfolio.
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See More
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See More
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- Portfolio Construction Advice: By combining Vici Properties, Pepsi, and T. Rowe Price, investors can create a robust high-yield stock portfolio; although Vici Properties was not included in Motley Fool's top ten recommended stocks, its long-term growth potential remains noteworthy.
See More
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- Main Street Capital Performance: Main Street Capital (MAIN) focuses on middle-market companies and offers a dividend yield of 7.8%, having increased its dividend by 141% since its 2007 IPO, demonstrating strong income generation and stability.
- Vici Properties Investment: Vici Properties (VICI) specializes in experiential real estate with a dividend yield of 6.2%, growing its payout at a 7% compound annual rate since 2018, and recently closed a $1.2 billion investment, enhancing its dividend growth potential.
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See More
Analysis of High-Yield Stock Investment Strategies
- Main Street Capital Yield: Main Street Capital (NYSE: MAIN), a business development company, currently offers a yield of 7.8%, having increased its monthly dividend by 141% since its 2007 IPO, demonstrating its stable dividend capability and potential for continued growth.
- Vici Properties Investment: Vici Properties (NYSE: VICI), focused on experiential real estate, currently yields 6.2% and has grown its dividend at a 7% compound annual rate since the end of 2018, recently closing a $1.2 billion investment to further support dividend growth.
- Verizon Cash Flow: Verizon (NYSE: VZ), a leading mobile and broadband provider, expects to generate $21.5 billion in free cash flow this year, supporting its 6% dividend, and has raised its dividend for 19 consecutive years, indicating strong cash flow and growth potential.
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See More
VICI Properties: A Top Dividend Stock Under $100
- High Dividend Yield: VICI Properties boasts a dividend yield of 6.35%, with a payout ratio of 61.25%, indicating strong management of dividend payments and ensuring stable returns for investors.
- Robust Financial Performance: In Q1 2026, VICI's revenue reached $1 billion, reflecting a 3.5% increase year-over-year, while adjusted funds from operations (AFFO) grew by 5.7% to $650.9 million, demonstrating the company's ongoing profitability.
- Impressive Net Margin: The company maintains a remarkable net profit margin of 78%, up from 70.36% at the end of 2025, showcasing its effectiveness in cost control and profitability enhancement.
- Strong Market Position: As a gambling-focused REIT, VICI owns 61 gambling locations and 39 non-gambling entertainment properties, achieving 100% occupancy across its portfolio, which strengthens its competitive edge in the market.
See More
