VICI Properties Inc. earnings overview

VICI FY2026 Q1 · Calendar Q2 2026

VICI Properties Inc.

VICI Properties delivered a strong first quarter, beating consensus EPS by roughly 16% while narrowly topping revenue estimates. The company raised full-year 2026 AFFO guidance to $2.665-$2.695 billion ($2.44-$2.47 per share), up from the prior range of $2.59-$2.625 billion, supported by $1.2 billion in new capital commitments — a second consecutive quarter above $1 billion and a first in company history. Management highlighted the secular shift toward experiential spending, a strengthened partnership with Cain & Eldridge via a $1.5 billion mezzanine loan for One Beverly Hills, and expansion into Canada through the $144 million Pure Casino acquisition. The balance sheet remains well-positioned with net debt at approximately 5x EBITDA and $3.1 billion in liquidity. The stock initially reacted positively with a 1.1% abnormal move but subsequently drifted 3.4% lower on elevated volume…