VICI Properties IncNYSE: VICI
Real Estate · Hotel & Resort REITs
$28.56
-2.21%
Vol: 7.6M
Research Digest
Friday, May 1, 2026
VICI closes $1.16B Golden Entertainment sale-leaseback; Q1 beats with 4.5% AFFO growth
VICI Properties closed a $1.16 billion sale-leaseback deal with Golden Entertainment, acquiring seven casino properties in Las Vegas under a 30-year master lease. Q1 earnings beat expectations with EPS of $0.82 vs. $0.71 forecast and revenue of $1.02B. Management raised 2026 AFFO guidance to $2.665-$2.695B. The company deployed $1.2B in new capital in Q1, signaling strong deployment momentum and expansion of its 100-property portfolio across gaming and experiential assets.
Previous Market Intelligence
13 daysApr 30VICI Properties closes $1.16 billion Golden Entertainment casino acquisition on April 30, 2026, adding seven properties under triple-net lease with operator Blake Sartini.Positive▶
VICI Properties completed its major $1.16 billion acquisition of seven casino properties from Golden Entertainment, with closing on or around April 30, 2026 as expected. The company raised full-year 2026 AFFO guidance to $2.44-$2.47 per share following strong Q1 results ($1.02B revenue, $0.61 FFO per share). Q1 net income surged 60.5% to $872.4 million, while same-store revenue and NOI grew 1.7% and 1.2% respectively. Upon closing, VICI enters a triple-net lease with a newly formed entity controlled by Golden's CEO Blake Sartini, diversifying gaming exposure.
Apr 29VICI Properties Q1 AFFO up 5.7% to $0.61/share; $1.16B Golden Entertainment deal closing April 30Positive▶
VICI Properties reported strong Q1 2026 earnings with total revenue up 3.5% to $1.0B and net income jumping 60.5% to $872.4M. Adjusted funds from operations rose 5.7% to $650.9M or $0.61 per share. The company raised full-year 2026 AFFO guidance to $2.665B-$2.695B. The $1.16B acquisition of seven Golden Entertainment casino properties is closing April 30, adding the company's 15th tenant with meaningful Las Vegas Locals gaming exposure. Barclays raised PT to $34.
Apr 16VICI Properties achieves 8th consecutive dividend increase to $0.45 per share; Q1 results due April 29.Positive▶
VICI Properties continued dividend growth momentum with 8th consecutive increase, raising quarterly payout to $0.45 per share yielding approximately 6.4%, demonstrating strong cash generation and shareholder focus. Company announced sale-leaseback of Canadian portfolio in connection with Pure Casino Entertainment acquisition of Gamehost, optimizing asset mix and capital deployment. Q1 2026 financial results will release after close on April 29 with updated guidance. FY 2026 EPS guidance established at $2.420-$2.450 reflecting disciplined capital allocation and portfolio optimization. Stock showed minimal overnight movement with mixed analyst sentiment as real estate market navigates interest rate environment and experiential venue demand recovery.
Apr 15VICI Properties declares dividend, announces Canadian portfolio sale-leaseback and acquires seven Nevada casino properties for $1.16B.Positive▶
VICI Properties declared regular quarterly dividend of $0.45 per share for Q1 2026. The company announced a sale-leaseback of its Canadian portfolio in connection with Pure Casino Entertainment acquisition, expected to close mid-2026. VICI also agreed to acquire seven Nevada casino properties from Golden Entertainment for $1.16 billion at 7.5% cap rate. Q1 2026 earnings will be released April 29. With 13 analysts covering at Buy consensus and $34.0 average price target, VICI offers 19.95% upside.
Apr 14VICI Properties expands One Beverly Hills mezzanine loan to $1.5B, diversifies with Canadian casino portfolio acquisition; Q1 2026 earnings April 29.Neutral▶
VICI Properties increased its One Beverly Hills investment by $1.05B (total $1.5B mezzanine loan). The company completed a CAD$200.6M Canadian portfolio acquisition via Pure Casino Entertainment deal. Declared Q1 2026 dividend of $0.45/share. Mizuho downgraded to Neutral citing Caesars tenant concentration risk (39% of rent).
Apr 13VICI Properties announced 8th consecutive dividend increase and expanded $1.5B mezzanine commitment to One Beverly Hills development.Mixed▶
VICI increased dividend for the 8th consecutive year with 6.3% yield. Expanded involvement in One Beverly Hills financing with $1.5B mezzanine loan commitment, representing $1.05B incremental beyond original $450M. Company is acquiring CAD$200.6M Canadian casino assets. Q1 2026 earnings expected April 29 with 5.2% FFO growth forecast. Facing headwinds from potential Caesars Entertainment sale to Tilman Fertitta.
Apr 10VICI expands One Beverly Hills financing with $1.5B mezzanine loanPositive▶
VICI Properties expanded One Beverly Hills financing with $1.5 billion mezzanine loan. Announced sale-leaseback of Canadian portfolio. Q1 2026 earnings expected April 29.
Apr 9VICI expands One Beverly Hills mezzanine loan to $1.5B; Q1 2026 earnings set for April 29Positive▶
VICI Properties expanded its strategic relationship with Cain and Eldridge Industries by providing a $1.5 billion mezzanine loan for the One Beverly Hills construction financing. The REIT reported Q4 2025 total revenues up 3.8% YoY with dividend declarations and upcoming Q1 2026 earnings on April 29 expected to show 5.2% diluted FFO growth.
Apr 8VICI Properties acquires Alberta casino portfolio for $144.4M and expands One Beverly Hills commitment to $1.5B.Positive▶
VICI announced acquisition of Canadian gaming assets in Alberta for ~$144.4 million USD. Company also expanded One Beverly Hills mixed-use development commitment to $1.5B. Q4 2025 results showed 3.8% revenue growth and 6.8% AFFO growth. Cantor Fitzgerald reiterates Overweight with $34 PT.
Apr 7VICI Properties announces Q1 2026 earnings for April 29; Golden Entertainment takeover deal approved; dividend $0.45/sharePositive▶
VICI Properties will release Q1 2026 financial results on April 29 after market close with conference call April 30 at 10:00 a.m. ET. Golden Entertainment shareholders approved master transaction agreement clearing path for VICI's participation in take private deal. Company acquired USD $144.4M in Canadian real estate assets including Deerfoot Inn & Casino and Great Northern Casino. Increased One Beverly Hills mezzanine loan to $1.5B. Board declared regular quarterly dividend of $0.45 per share for Q1 2026. Analyst consensus is Moderate Buy with 8 buy and 6 hold ratings. Mizuho downgraded to Hold citing execution concerns.
Apr 6VICI Properties expands Canadian footprint with $144M acquisition and One Beverly Hills investment growthPositive▶
VICI Properties acquired $144.4 million in Canadian casino assets (Deerfoot Inn & Casino, Great Northern Casino) through partnership with Pure Casino Entertainment. The company expanded its One Beverly Hills mixed-use development participation to $1.5 billion from $450 million mezzanine loan. VICI announced $2.1 billion in capital commitments for 2025 with 8.9% weighted average initial yield. The board declared a quarterly dividend of $0.45 per share. Q1 2026 results expected April 29 with conference call April 30.
Apr 3VICI expands One Beverly Hills financing ($1.5B mezzanine loan) and completes $144M Canadian property sale-leaseback.Positive▶
VICI Properties expanded its strategic partnership providing a $1.5B mezzanine loan behind a $2.8B senior loan for One Beverly Hills construction financing. Separately, VICI announced a $144M sale-leaseback of Canadian properties and a $1.16B acquisition of seven Nevada casinos from Golden Entertainment. Q1 2026 results due April 29-30. 13 analysts rate Buy with $34 target.
Apr 2VICI Properties acquires Golden Entertainment Nevada casino portfolio and expands Alberta operations; stock down 9.6% in one monthMixed▶
VICI Properties agreed to acquire 7 Nevada casino properties from Golden Entertainment for $1.16 billion with a $87 million annual rent at 7.5% cap rate, expected to close mid-2026. The company also completed a $144 million (CAD$200.6M) Canada expansion acquiring Deerfoot Inn & Casino and Great Northern Casino. VICI provided a $1.5 billion mezzanine loan for One Beverly Hills financing. Q1 2026 earnings will be released April 29 after market close. Stock: $26.61 (down 9.6% in one month, 16.21% YoY decline). Analyst rating: Buy with $34.0 target (+24.45%).
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| VICIVICI | $28.56 | -2.21% | +5.6% | 9.9x | 0.73 | $31.2B |
| HSTHOST | $21.14 | +0.02% | +9.9% | 21.8x | 1.13 | $14.7B |
| WELLWELLTOWER | $217.35 | +0.00% | +8.2% | 66.1x | — | $153.2B |
| PLDPROLOGIS | $141.40 | -0.43% | +7.3% | 41.8x | 1.41 | $132.4B |
| EQIXEQUINIX | $1,082.36 | -0.04% | +6.6% | 49.5x | 1.00 | $106.8B |
| AMTAMERICAN | $181.72 | -0.54% | +3.7% | 26.4x | 0.93 | $85.1B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.