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VICI · Vici Properties Inc. · Debt

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$23.76 -0.26 (-1.08%) At close · Oct 23
Market Cap
$26.16B
Shares
1.10B
Volume · Oct 23 8.69M Avg daily vol (3M) 10.07M

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Latest reported total
USD 17,100,000,000
As of Dec 31, 2025
Tracked instruments
4
Loans, facilities and note series
Annual baseline
Dec 31, 2025
Latest approved annual total
Reported total debt history
As of Reported label Amount Source
2025-12-31 long-term indebtedness USD 17,100,000,000 10-K filed 2026-02-25
We have a substantial amount of indebtedness and debt service requirements. As of December 31, 2025, we had approximately $17.1 billion in long-term indebtedness, and we also had $2.4 billion of available capacity to borrow under the Revolving Credit Facility (as defined in [Note 7 - Debt](#i368d3c19aa9d44c4a3d1ba3257c0bdcf_169)).

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balanceAs ofAmountSource
Finance lease liabilities 2026-06-30 USD 862,458,000 10-Q filed 2026-07-29
Long-term debt, including current maturities 2026-06-30 USD 16,931,155,000 10-Q filed 2026-07-29
Operating lease liabilities 2026-06-30 USD 20,755,000 10-Q filed 2026-07-29
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
2 filings have incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

5.400% Senior Notes due 2031

Note · VICI Properties L.P.

Reference: 5.400% Senior Notes due 2031

Active
Original principal
USD 900,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.4% Reported 2026-08-14 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-08-14 Original principal USD 900,000,000 Exact source document Parent 8-K filing · 2026-08-14
    WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.
    Issuer evidence: FIFTH SUPPLEMENTAL INDENTURE, dated as of August 14, 2026 (this “**Fifth Supplemental Indenture**”), between VICI PROPERTIES L.P., a Delaware limited partnership (the “**Issuer**”), having its principal executive office located at 535 Madison Avenue, New York, New York 10022, and UMB BANK, NATIONAL ASSOCIATION, as trustee, registrar, paying agent and transfer agent (the “**Trustee**,” “**Registrar**,” “**Paying Agent**” and **“Transfer Agent**,” respectively), which supplements that certain Indenture, dated as of April 29, 2022, by and between the Issuer and the Trustee (the “**Base Indenture**”).
    Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.
    Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.

5.400% Senior Notes due 2031

Note · VICI Properties L.P.

Reference: 5.400% Senior Notes due 2031

Active
Original principal
USD 900,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.4% Reported 2026-08-06 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-08-05 Original principal USD 900,000,000 Exact source document Parent 8-K filing · 2026-08-06
    On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
    Issuer evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
    Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
    Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

5.750% Senior Notes due 2036

Note · VICI Properties L.P.

Reference: 5.750% Senior Notes due 2036

Active
Original principal
USD 850,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.75% Reported 2026-08-06 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-08-05 Original principal USD 850,000,000 Exact source document Parent 8-K filing · 2026-08-06
    On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
    Issuer evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
    Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
    Supporting evidence: On August 5, 2026, VICI Properties Inc., a Maryland corporation (the “Company”), and VICI Properties L.P., a Delaware limited partnership (“VICI LP”), entered into an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC, Barclays Capital Inc., Mizuho Securities USA LLC and Truist Securities, Inc., as representatives of the several underwriters listed on Schedule I thereto (collectively, the “Underwriters”), pursuant to which VICI LP agreed to issue and sell $900 million aggregate principal amount of 5.400% Senior Notes due 2031 (the “2031 Notes”) and $850 million aggregate principal amount of 5.750% Senior Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).

5.750% Senior Notes due 2036

Note · VICI Properties L.P.

Reference: 5.750% Senior Notes due 2036

Active
Original principal
USD 850,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
—

Last reported interest terms: 5.75% Reported 2026-08-14 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-08-14 Original principal USD 850,000,000 Exact source document Parent 8-K filing · 2026-08-14
    WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.
    Issuer evidence: FIFTH SUPPLEMENTAL INDENTURE, dated as of August 14, 2026 (this “**Fifth Supplemental Indenture**”), between VICI PROPERTIES L.P., a Delaware limited partnership (the “**Issuer**”), having its principal executive office located at 535 Madison Avenue, New York, New York 10022, and UMB BANK, NATIONAL ASSOCIATION, as trustee, registrar, paying agent and transfer agent (the “**Trustee**,” “**Registrar**,” “**Paying Agent**” and **“Transfer Agent**,” respectively), which supplements that certain Indenture, dated as of April 29, 2022, by and between the Issuer and the Trustee (the “**Base Indenture**”).
    Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.
    Supporting evidence: WHEREAS, the Issuer intends by this Fifth Supplemental Indenture to (A) create (i) a series of the Securities, in an initial aggregate principal amount equal to $900,000,000, entitled 5.400% Senior Notes due 2031 (the “**2031 Notes**”) and (ii) a series of the Securities, in an initial aggregate principal amount equal to $850,000,000, entitled 5.750% Senior Notes due 2036 (the “**2036 Notes**” and, together with the 2031 Notes, the “**Notes**”) and (B) establish the form and the terms and provisions of the Notes.
Key facts CIK 1705696 CUSIP 925652109 13F (30d) 201 filings 189 filers Visit website Investor relations