VICI Properties Inc (VICI)

In the past six months, VICI's stock has experienced various events and performance trends. The stock gained 12.7% year-to-date as of June 2025, outperforming its industry but underperforming the broader S&P 500. Its weekly volatility has remained stable over the past year. Key events include reporting Q4 2024 and Q1 2025 earnings, a Moody's credit rating upgrade, debt refinancing, dividend declarations, and strategic investments.

VICI Properties' business model aims to mitigate the direct impact of seasonal fluctuations through long-term, triple-net lease agreements, which provide stable and predictable cash flows. Major gaming hubs like Las Vegas have largely eliminated seasonality due to a continuous stream of events and attractions. VICI's diversified portfolio across various experiential assets and geographies also helps to spread risk and potentially smooth out any localized seasonal demand shifts.

VICI Properties Inc. operates within the Real Estate sector as a REIT, leasing its extensive property portfolio, which includes 54 gaming properties, 39 other experiential properties, and four championship golf courses. Notable assets include iconic Las Vegas Strip properties such as Caesars Palace Las Vegas, MGM Grand, and The Venetian Resort Las Vegas. VICI has expanded into other experiential sectors through partnerships with operators of properties like Great Wolf Resorts, Canyon Ranch spas, Kalahari Resorts water parks, and Bowlero bowling alleys.

VICI Properties boasts a geographically diverse portfolio spanning the United States and Canada. As of late 2023, the company owned approximately 93 experiential assets, comprising about 127 million square feet, with roughly 60,300 hotel rooms and over 500 restaurants, bars, nightclubs, and sportsbooks. VICI is also recognized as the largest landowner on the Las Vegas Strip, holding over 660 acres.

VICI Properties generally maintains a strong brand reputation, particularly within the real estate and investment communities. The company is recognized for its corporate governance and its pioneering role in the institutionalization of experiential real estate as an asset class. There have been no widely reported events in the past year that have negatively impacted VICI Properties' overall brand reputation.

VICI Properties has a highly institutional ownership structure, with approximately 97.2% to 98.69% of its common shares held by institutions, a smaller percentage (around 0.2% to 0.29%) owned by insiders, and about 1.02% to 30.06% by retail investors. Major institutional owners include The Vanguard Group Inc., BlackRock, Inc., Capital International Investors, Capital Research Global Investors and State Street Corp. Significant individual non-institutional stockholders include Edward Pitoniak (CEO) and John Payne (President and COO).