VICI Properties Reports Q2 Earnings with AFFO Growth and New Investment Expansion
VICI Properties Inc. (NYSE: VICI) reported second-quarter adjusted funds from operations (AFFO) of $0.62 per share, a 4.6% increase compared to the same period in 2025. The company raised its full-year AFFO-per-share guidance range for 2026 to between $2.45 and $2.47, reflecting expected growth at the midpoint of approximately 3.4%. As of June 30, VICI had total debt of $17.2 billion with a leverage ratio of about 4.9 times annualized adjusted EBITDA, remaining within its target range. The REIT expanded into new investment areas by acquiring and redeveloping the Carambola Beach Resort in St. Croix through a partnership with Club Med. This marks VICI's first build-to-suit project and entry into the Caribbean market. The company also completed several transactions, including a $1.16 billion sale-leaseback deal with Golden Entertainment and an acquisition of Gamehost real estate in Alberta. Management noted strong performance on the Las Vegas Strip, where gaming revenue is ahead year-over-year, supported by high demand for entertainment events and conventions.
Topics: Affordable Funds from Operations (AFFO) Debt Management Investment Expansion Real Estate