VICI PROPERTIES INC.

VICI 10-K ยท FY 2025

VICI FY 2025 request

Playground key active
Request URL /api/financials?ticker=VICI&year=2025&quarter=4&full_year_mode=true
waiting 0 ms
Pick an endpoint and run the request.
curl

Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Sales Type Lease Interest Income 2,125,367 2,068,443 +2.8%
Show Legal Entity breakouts
VICI Properties LP 2,125,367 2,068,443 +2.8%
Show Rent Type [Axis] breakouts
Contingent Rent 115,668 102,478 +12.9%
Fixed Rent 2,009,699 1,965,965 +2.2%
Interest And Dividend Income Operating 1,763,494 1,662,889 +6.1%
Show Legal Entity breakouts
VICI Properties LP 1,763,494 1,662,889 +6.1%
Other Income 77,479 77,422 +0.1%
Show Legal Entity breakouts
VICI Properties LP 77,479 77,422 +0.1%
Revenue 4,006,116 3,849,205 +4.1%
Show Legal Entity breakouts
VICI Properties LP 3,966,340 3,808,754 +4.1%
General & Administrative 65,082 69,109 -5.8%
Show Legal Entity breakouts
VICI Properties LP 62,438 63,909 -2.3%
Depreciation 3,637 4,125 -11.8%
Show Legal Entity breakouts
VICI Properties LP 521 699 -25.5%
Other Expenses 77,479 77,422 +0.1%
Show Legal Entity breakouts
VICI Properties LP 77,479 77,422 +0.1%
Financing Receivable Excluding Accrued Interest Net Investment In Lease And Loans Credit Loss Expense Reversal 177,887 126,720 +40.4%
Show Legal Entity breakouts
VICI Properties LP 177,887 126,720 +40.4%
Transaction And Acquisition Expense 7,729 4,567 +69.2%
Show Legal Entity breakouts
VICI Properties LP 7,729 4,567 +69.2%
Operating Costs And Expenses 358,544 308,838 +16.1%
Show Legal Entity breakouts
VICI Properties LP 326,054 273,317 +19.3%
Interest Expense -843,614 -826,097 -2.1%
Show Legal Entity breakouts
VICI Properties LP -843,614 -826,097 -2.1%
Interest Income 14,363 16,095 -10.8%
Show Legal Entity breakouts
VICI Properties LP 13,860 14,013 -1.1%
Other Nonoperating Gains Losses 2,658 581 +357.5%
Show Legal Entity breakouts
VICI Properties LP 2,658 581 +357.5%
Income Before Taxes 2,820,979 2,730,946 +3.3%
Show Legal Entity breakouts
VICI Properties LP 2,813,190 2,723,934 +3.3%
Income Tax Expense (Benefit) -2,435 -9,704 +74.9%
Show Legal Entity breakouts
VICI Properties LP -543 -8,479 +93.6%
Net Income 2,818,544 2,721,242 +3.6%
Show Equity Components breakouts
Noncontrolling Interest 43,051 42,432 +1.5%
Parent 2,775,493 2,678,810 +3.6%
Retained Earnings 2,775,493 2,678,810 +3.6%
Show Legal Entity breakouts
VICI Properties LP 2,812,647 2,715,455 +3.6%
Net Income Loss Attributable To Noncontrolling Interest -43,051 -42,432 -1.5%
Show Legal Entity breakouts
VICI Properties LP -11,165 -11,200 +0.3%
Net Income Loss Attributable To Partners (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 2,801,482 2,704,255 +3.6%
EPS (Basic) 2.61 2.56 +2.0%
Show Legal Entity breakouts
VICI Properties LP 2.61 2.55 +2.4%
EPS (Diluted) 2.61 2.56 +2.0%
Show Legal Entity breakouts
VICI Properties LP 2.61 2.55 +2.4%
Wtd Avg Shares (Basic) 1,062,006,448 1,046,739,537 +1.5%
Show Legal Entity breakouts
VICI Properties LP 1,074,237,821 1,058,970,910 +1.4%
Wtd Avg Shares (Diluted) 1,062,693,062 1,047,675,111 +1.4%
Show Legal Entity breakouts
VICI Properties LP 1,074,924,435 1,059,906,484 +1.4%
Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax Parent (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP -25,509 -24,662 -3.4%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP -5,949 26,973 -122.1%
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 7,649 -11,762 +165.0%
Comprehensive Income 2,751,950 2,669,514 +3.1%
Show Legal Entity breakouts
VICI Properties LP 2,777,673 2,694,804 +3.1%
Income From Golf Operations 39,776 40,451 -1.7%
Cost of Revenue 26,730 26,895 -0.6%
Net Income 2,775,493 2,678,810 +3.6%
Show Legal Entity breakouts
VICI Properties LP 2,801,482 2,704,255 +3.6%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax -25,509 -24,662 -3.4%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -25,218 -24,384 -3.4%
Noncontrolling Interest -291 -278 -4.7%
Parent -25,218 -24,384 -3.4%
Show Derivative Risk breakouts
Forward-starting interest rate swap -25,509 -24,662 -3.4%
Show Legal Entity breakouts
VICI Properties LP -25,509 -24,662 -3.4%
VICI Properties LP ยท Accumulated Other Comprehensive Income -25,509 -24,662 -3.4%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax -5,949 26,973 -122.1%
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax 7,649 -11,762 +165.0%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 7,556 -11,580 +165.3%
Noncontrolling Interest 93 -182 +151.1%
Parent 7,556 -11,580 +165.3%
Show Legal Entity breakouts
VICI Properties LP 7,649 -11,762 +165.0%
VICI Properties LP ยท Accumulated Other Comprehensive Income 7,649 -11,762 +165.0%
Show Derivative Instruments Gain Loss By Hedging Relationship breakouts
Net Investment Hedging 7.5 12.9 -41.9%
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest 2,794,735 2,711,791 +3.1%
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest -42,785 -42,277 -1.2%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 563,479 524,615 +7.4%
Show Legal Entity breakouts
VICI Properties LP 553,412 456,899 +21.1%
Short-Term Investments 44,484 โ€” โ€”
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 ยท Estimate Of Fair Value Fair Value Disclosure 44,484 โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 44,484 โ€” โ€”
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 44,484 โ€” โ€”
Non-Current Assets
Total Assets 46,724,168 45,368,940 +3.0%
Show Legal Entity breakouts
VICI Properties LP 46,636,278 45,285,760 +3.0%
Property, Plant & Equipment 68,045 70,347 -3.3%
Deferred Tax Assets 9,535 5,865 +62.6%
Other Assets
Other Assets 1,039,050 1,030,644 +0.8%
Show Legal Entity breakouts
VICI Properties LP 961,227 1,015,180 -5.3%
Non-Current Liabilities
Long-Term Debt 16,773,241 16,732,889 +0.2%
Show Debt Instrument breakouts
3.750% Notes ยท Unsecured Debt 748,114 746,438 +0.2%
3.875% Notes ยท Unsecured Debt 713,898 702,707 +1.6%
4.125% Notes ยท Unsecured Debt 993,101 991,609 +0.2%
4.250% Notes ยท Unsecured Debt 1,247,385 1,244,469 +0.2%
4.500% Notes ยท Unsecured Debt 496,596 491,532 +1.0%
4.500% Notes ยท Unsecured Debt 344,756 342,214 +0.7%
4.625% Notes ยท Unsecured Debt 993,732 992,132 +0.2%
4.750% Notes ยท Unsecured Debt 1,244,632 1,242,110 +0.2%
4.750% Notes ยท Unsecured Debt 397,012 โ€” โ€”
4.950% Notes ยท Unsecured Debt 992,815 991,080 +0.2%
5.125% Notes ยท Unsecured Debt 741,828 740,527 +0.2%
5.125% Notes ยท Unsecured Debt 1,486,918 1,484,876 +0.1%
5.625% Notes ยท Unsecured Debt 736,842 736,348 +0.1%
5.625% Notes ยท Unsecured Debt 885,409 โ€” โ€”
5.750% Notes ยท Unsecured Debt 752,382 754,588 -0.3%
5.750% Notes ยท Unsecured Debt 541,956 540,986 +0.2%
6.125% Notes ยท Unsecured Debt 485,897 485,405 +0.1%
MGM Grand/Mandalay Bay CMBS Debt ยท Unsecured Debt 2,827,515 2,800,544 +1.0%
Show Legal Entity breakouts
VICI Properties LP 16,773,241 16,732,889 +0.2%
Show Currency breakouts
CAD ยท Revolving Credit Facility 120,219 130,698 -8.0%
GBP ยท Revolving Credit Facility 22,234 18,148 +22.5%
Accrued Liabilities Current And Noncurrent 238,715 217,956 +9.5%
Show Legal Entity breakouts
VICI Properties LP 236,424 215,452 +9.7%
Dividends Payable Current And Noncurrent 486,259 461,954 +5.3%
Show Legal Entity breakouts
VICI Properties LP 486,259 461,954 +5.3%
Total Liabilities 18,501,581 18,417,139 +0.5%
Show Legal Entity breakouts
VICI Properties LP 18,486,100 18,400,872 +0.5%
Deferred Tax Liabilities 6,619 3,812 +73.6%
Other Liabilities
Net Investment In Lease Excluding Accrued Interest After Allowance For Credit Loss 23,706,563 23,581,101 +0.5%
Show Legal Entity breakouts
VICI Properties LP 23,706,563 23,581,101 +0.5%
Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss (Q) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP ยท Finance Receivables 18,697,133 18,430,320 +1.4%
VICI Properties LP ยท Investments in loans and securities, net 2,525,457 1,651,533 +52.9%
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts
Finance Receivables 18,697,133 18,430,320 +1.4%
Investments in loans and securities, net 2,525,457 1,651,533 +52.9%
Investments in loans and securities, net ยท Mezzanine Loans and Preferred Equity 1,396,839 895,476 +56.0%
Investments in loans and securities, net ยท Senior Loans 1,047,585 674,200 +55.4%
Other Liabilities 1,003,366 1,004,340 -0.1%
Show Legal Entity breakouts
VICI Properties LP 990,176 990,577 -0.0%
Stockholders' Equity
Common Stock 10,688 10,564 +1.2%
Additional Paid-In Capital 24,898,868 24,515,417 +1.6%
Retained Earnings 2,767,053 1,867,400 +48.2%
Total Stockholders' Equity 27,797,640 26,537,955 +4.7%
Minority Interest 424,947 413,846 +2.7%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 28,222,587 26,951,801 +4.7%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 121,031 144,574 -16.3%
Additional Paid In Capital 24,898,868 24,515,417 +1.6%
Common Stock 10,688 10,564 +1.2%
Noncontrolling Interest 424,947 413,846 +2.7%
Parent 27,797,640 26,537,955 +4.7%
Retained Earnings 2,767,053 1,867,400 +48.2%
Limited Partners Capital Account (Q) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 27,923,645 26,634,873 +4.8%
Accumulated Other Comprehensive Income 121,031 144,574 -16.3%
Show Legal Entity breakouts
VICI Properties LP 120,090 143,899 -16.5%
Partners Capital (Q) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 28,043,735 26,778,772 +4.7%
Partners Capital Attributable To Noncontrolling Interest (Q) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 106,443 106,116 +0.3%
Partners Capital Including Portion Attributable To Noncontrolling Interest (Q) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 28,150,178 26,884,888 +4.7%
VICI Properties LP ยท Accumulated Other Comprehensive Income 120,090 143,899 -16.5%
VICI Properties LP ยท Limited Partner 27,923,645 26,634,873 +4.8%
VICI Properties LP ยท Noncontrolling Interest 106,443 106,116 +0.3%
Total Liabilities & Equity 46,724,168 45,368,940 +3.0%
Show Legal Entity breakouts
VICI Properties LP 46,636,278 45,285,760 +3.0%
Land Available For Development 148,002 150,727 -1.8%
Show Legal Entity breakouts
VICI Properties LP 148,002 150,727 -1.8%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Non Cash Leasing And Financing Adjustments -523,920 -537,708 +2.6%
Show Legal Entity breakouts
VICI Properties LP -523,920 -537,708 +2.6%
Stock-Based Compensation 16,195 17,511 -7.5%
Show Legal Entity breakouts
VICI Properties LP 16,195 17,511 -7.5%
Amortization Of Financing Costs And Discounts 46,831 46,668 +0.3%
Show Legal Entity breakouts
VICI Properties LP 46,831 46,668 +0.3%
Deferred Income Taxes And Tax Credits -1,743 5,439 -132.0%
Show Legal Entity breakouts
VICI Properties LP -1,491 6,135 -124.3%
Interest Income Paid In Kind -37,547 โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP -37,547 โ€” โ€”
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts
Investments in loans and securities, net -37,547 โ€” โ€”
Net Proceeds From Derivative Instrument Operating Activities 1,767 9,602 -81.6%
Show Legal Entity breakouts
VICI Properties LP 1,767 9,602 -81.6%
Increase Decrease In Other Current Assets -441 3,428 -112.9%
Show Legal Entity breakouts
VICI Properties LP 626 3,736 -83.2%
Increase Decrease In Accrued Liabilities 12,986 -13,443 +196.6%
Show Legal Entity breakouts
VICI Properties LP 10,750 -14,023 +176.7%
Increase Decrease In Other Deferred Liability -1,547 -1,505 -2.8%
Show Legal Entity breakouts
VICI Properties LP -1,222 -1,229 +0.6%
Net Cash from Operations 2,509,991 2,381,498 +5.4%
Show Legal Entity breakouts
VICI Properties LP 2,500,386 2,372,985 +5.4%
Deferred Income Taxes -1,743 5,439 -132.0%
Investing Activities
Payments To Acquire Loans Receivable -887,246 -579,057 -53.2%
Show Legal Entity breakouts
VICI Properties LP -887,246 -579,057 -53.2%
Proceeds From Sale And Collection Of Mortgage Notes Receivable 27,489 80,750 -66.0%
Show Legal Entity breakouts
VICI Properties LP 27,489 80,750 -66.0%
Payments Of Capitalized Transaction Costs -4,692 -5,863 +20.0%
Show Legal Entity breakouts
VICI Properties LP -4,692 -5,863 +20.0%
Payments To Acquire Short Term Investments -44,484 -29,579 -50.4%
Show Legal Entity breakouts
VICI Properties LP -44,484 -29,579 -50.4%
Proceeds From Sale Of Real Estate Heldforinvestment 5,502 963 +471.3%
Show Legal Entity breakouts
VICI Properties LP 5,502 963 +471.3%
Payments To Acquire Other Property Plant And Equipment -1,335 -7,526 +82.3%
Show Legal Entity breakouts
VICI Properties LP -97 -4,530 +97.9%
Net Cash from Investing -904,766 -922,781 +2.0%
Show Legal Entity breakouts
VICI Properties LP -903,528 -919,785 +1.8%
Non Cash Distributions Declared Not Paid (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 486,469 462,170 +5.3%
Share Based Payment Arrangement Awards Issued Subject To Repurchase For Tax Withholding 18,613 17,576 +5.9%
Show Legal Entity breakouts
VICI Properties LP 18,613 17,576 +5.9%
Accrued Capitalized Transaction Costs 3,491 1,600 +118.2%
Show Legal Entity breakouts
VICI Properties LP 3,491 1,600 +118.2%
Debt Issuance Costs Payable 5 476 -98.9%
Show Legal Entity breakouts
VICI Properties LP 5 476 -98.9%
Noncash Change In Investment Leases Investing Activities 282,989 283,406 -0.1%
Show Legal Entity breakouts
VICI Properties LP 282,989 283,406 -0.1%
Non Cash Dividends Declared Not Paid 486,469 462,170 +5.3%
Financing Activities
Proceeds From Contributions From Parent (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP 438,943 367,331 +19.5%
Payments Of Capital Distribution (FY) โ€” โ€” โ€”
Show Legal Entity breakouts
VICI Properties LP -1,872,416 -1,773,366 -5.6%
Proceeds From Lines Of Credit 426,024 82,200 +418.3%
Show Legal Entity breakouts
VICI Properties LP 426,024 82,200 +418.3%
Repayments Of Lines Of Credit -439,942 -94,306 -366.5%
Show Legal Entity breakouts
VICI Properties LP -439,942 -94,306 -366.5%
Proceeds From Issuance Of Unsecured Debt 1,284,437 1,771,168 -27.5%
Show Legal Entity breakouts
VICI Properties LP 1,284,437 1,771,168 -27.5%
Repayments Of Unsecured Debt -1,300,000 -1,800,000 +27.8%
Show Legal Entity breakouts
VICI Properties LP -1,300,000 -1,800,000 +27.8%
Debt Issuance Costs -19,481 -5,303 -267.4%
Show Legal Entity breakouts
VICI Properties LP -19,481 -5,303 -267.4%
Tax Withholding for Share Compensation -7,232 -5,341 -35.4%
Show Legal Entity breakouts
VICI Properties LP -7,232 -5,341 -35.4%
Distributions To Non Controlling Interests -32,209 -31,235 -3.1%
Show Legal Entity breakouts
VICI Properties LP -10,838 -10,713 -1.2%
Net Cash from Financing -1,566,521 -1,457,121 -7.5%
Show Legal Entity breakouts
VICI Properties LP -1,500,505 -1,468,330 -2.2%
Proceeds From Issuance Of Common Stock 375,349 378,687 -0.9%
Payments Of Dividends -1,853,467 -1,752,991 -5.7%
Supplemental
Interest Paid 778,793 781,401 -0.3%
Show Legal Entity breakouts
VICI Properties LP 778,793 781,401 -0.3%
Income Taxes Paid 7,337 3,338 +119.8%
Show Legal Entity breakouts
VICI Properties LP 4,068 1,312 +210.1%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 160 445 -64.0%
Show Legal Entity breakouts
VICI Properties LP 160 445 -64.0%
Net Change in Cash 38,864 2,041 +1804.2%
Show Legal Entity breakouts
VICI Properties LP 96,513 -14,685 +757.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 563,479 524,615 +7.4%
Show Legal Entity breakouts
VICI Properties LP 553,412 456,899 +21.1%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

Get API Key