Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement.
Across FY2018–FY2025: $8.55B in dividends.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
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.
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 2026-08-14Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
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 2026-08-06Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
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 2026-08-06Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
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 2026-08-14Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
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.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
10.45×
Peer median 8.56×
EV/EBIT
—
Peer median 28.74×
P/E (TTM)
9.21×
Peer median 34.52×
P/FFO (TTM)
9.46×
Peer median 12.98×
P/AFFO (TTM)
10.17×
Peer median 11.32×
EV/Adj. EBITDA (TTM)
12.73×
Peer median 13.63×
Peer medians compare against the 14 similar-size REIT - Diversified companies (of 19 listed).
P/FFO and P/AFFO and EV/Adj. EBITDA use
the company-stated
“FFO attributable to common stockholders” and “Adjusted Funds From Operations (AFFO) attributable to common stockholders” and “Adjusted EBITDA attributable to common stockholders”,
extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.
Valuation over time computed as of each quarter's filing date
P/FFO and P/AFFO and EV/Adj. EBITDA use
the company-stated
“FFO attributable to common stockholders” and “Adjusted Funds From Operations (AFFO) attributable to common stockholders” and “Adjusted EBITDA attributable to common stockholders”,
extracted from the reconciliation in its SEC filings as it existed at each sample date — the company's own non-GAAP definition, not an XBRL-tagged figure. Each point's tooltip names its TTM or fiscal-year basis.
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
Component
FY2021
FY2020
FY2019
FY2018
Real Property Business Segment
$1,479,021,000
$1,201,782,000
$865,858,000
$870,776,000
Golf Course Business Segment
$30,547,000
$23,792,000
$28,940,000
$27,201,000
By Product & Service (USD)
Component
FY2019
FY2018
Golf
$28,940,000
$27,201,000
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
