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 and entertainment 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. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield and Kalahari Resorts. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to own the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.
Strategic Expansion | Explore VICI's pivot from traditional casino investments to unique opportunities like the $300 million mezzanine loan for One Beverly Hills, diversifying its portfolio |
Financial Resilience | VICI's strong balance sheet and $3.3 billion liquidity position it well for growth, with a leverage ratio of 5.1x net debt to EBITDA below its long-term target |
Market Leadership | As a top experiential REIT, VICI commands premium valuations. Analysts set price targets ranging from $34 to $35, reflecting confidence in its growth potential |
Future Challenges | Learn how VICI navigates rising interest rates and sector diversification risks while maintaining its attractive 5.4% dividend yield and consistent growth trajectory |
Metrics to compare | VICI | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipVICIPeersSector | |
---|---|---|---|---|
P/E Ratio | 13.1x | 13.6x | 8.7x | |
PEG Ratio | −17.94 | 0.04 | 0.01 | |
Price/Book | 1.3x | 0.0x | 0.9x | |
Price / LTM Sales | 8.9x | 1.9x | 3.8x | |
Upside (Analyst Target) | 10.8% | 27.4% | 14.0% | |
Fair Value Upside | Unlock | 27.5% | 2.2% | Unlock |