VICI Properties Inc.

VICI Properties Inc. is a Maryland corporation primarily engaged in owning and acquiring gaming, hospitality, wellness, entertainment, and leisure destinations. These properties are subject to long-term triple net leases. As of December 31, 2025, VICI Properties Inc. owns 93 experiential assets across a geographically diverse portfolio. This portfolio includes 54 gaming properties and 39 other experiential properties located across the United States and Canada. Notable properties include Caesars Palace Las Vegas, MGM Grand, and the Venetian Resort Las Vegas. The company's gaming and entertainment facilities are leased to leading brands. These well-maintained properties span approximately 127 million square feet and are located in urban, destination, and drive-to markets in twenty-six states and Canada. They contain approximately 60,300 hotel rooms and feature over 500 restaurants, bars, nightclubs, and sportsbooks. As of December 31, 2025, the properties are 100% leased with a weighted average lease term, including extension options, of approximately 39.6 years. VICI Properties Inc. also has real estate and financing partnerships with developers and operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, Kalahari Resorts, and Lucky Strike Entertainment. This portfolio includes real estate debt investments originated for strategic purposes, such as the potential to convert investments into underlying real estate ownership, developing relationships for future investments, and increasing investment activity in experiential asset classes outside of gaming. Additionally, the company owns approximately 33 acres of undeveloped or underdeveloped land on and adjacent to the Las Vegas Strip, which is leased to Caesars Entertainment, Inc.