← VICI PROPERTIES INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | — | $183.6m | $577.9m | $1.1b | $316.0m | $739.6m | $208.9m | $522.6m | $524.6m | $563.5m | |
| Short-term Investments | — | $0 | $520.9m | $59.5m | $20.0m | $0 | $217.3m | $0 | $0 | $44.5m | |
| Cash and cash equivalents | $920k | $183.6m | $577.9m | $1.1b | $316.0m | $739.6m | $208.9m | $522.6m | $524.6m | $563.5m | |
| Accounts Receivable | — | — | — | — | — | — | — | $6.2m | $5.1m | $2.4m | |
| Accrued Interest Receivable | — | — | — | — | — | — | $6.9m | $9.4m | $7.2m | $14.5m | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | — | — | — | $426.3m | $522.6m | $524.6m | $608.0m | |
| Loans Receivable | — | — | — | — | — | $498.0m | $685.8m | — | — | — | |
| Other Receivables | — | — | — | — | — | — | $16.8b | $18.2b | $18.4b | $18.7b | |
| Other Short Term Investments | — | — | — | — | — | — | $217.3m | $0 | $0 | $44.5m | |
| Prepaid Assets | — | — | — | — | — | — | $7.3m | $4.7m | $4.5m | $4.8m | |
| Property, Plant and Equipment, Net | — | $74.3m | $71.5m | $70.4m | $69.2m | $68.5m | $67.2m | $66.9m | $70.3m | $68.0m | |
| Operating Lease, Right-of-Use Asset | — | — | — | $1.1b | — | $16.8m | $45.0m | — | — | — | |
| Other assets | — | $15.4m | $44.0m | $188.6m | $386.5m | $424.7m | $936.3m | $1.0b | $1.0b | $1.0b | |
| Additional Financial Items | |||||||||||
| Investments in leases - sales-type, net | — | — | — | — | $13.0b | $13.1b | $17.2b | $23.0b | $23.6b | $23.7b | |
| Investments in leases and loans | — | — | — | — | $3.2b | $3.1b | $17.4b | $20.5b | $20.1b | $21.2b | |
| Land | — | $73.6m | $95.8m | $94.7m | $158.2m | $153.6m | $153.6m | $150.7m | $150.7m | $148.0m | |
| Debt, net | — | $4.8b | $4.1b | $4.8b | $6.8b | $4.7b | $13.7b | $16.7b | $16.7b | $16.8b | |
| Dividends and distributions payable | — | $0 | $116.3m | $137.1m | $177.0m | $226.3m | $380.2m | $437.6m | $462.0m | $486.3m | |
| Other liabilities | — | $14.3m | $62.4m | $123.9m | $413.7m | $375.8m | $952.5m | $1.0b | $1.0b | $1.0b | |
| Non-controlling interests | — | $84.9m | $83.6m | $83.8m | $77.9m | $78.9m | $356.5m | $401.8m | $413.8m | $424.9m | |
| Accumulated Depreciation | — | — | — | — | — | — | ($17.8m) | ($21.7m) | ($24.5m) | ($28.1m) | |
| Buildings And Improvements | — | — | — | — | — | — | $15.1m | $15.7m | $16.2m | $16.7m | |
| Capital Lease Obligations | — | — | — | — | — | — | $829.3m | $904.4m | $917.2m | $916.5m | |
| Current Accrued Expenses | — | — | — | — | — | — | $213.4m | $227.2m | $218.0m | $238.7m | |
| Derivative Product Liabilities | — | — | — | — | — | $0 | $0 | $11.2m | $0 | — | |
| Financial Assets | — | — | — | — | — | — | $0 | $1.6m | $7.7m | $0 | |
| Gross PPE | — | — | — | — | — | — | $894.5m | $974.3m | $991.8m | $989.1m | |
| Invested Capital | — | — | — | — | — | — | $35.7b | $42.0b | $43.3b | $44.6b | |
| Investment Properties | — | — | — | — | — | — | $17.3b | $23.2b | $23.7b | $23.9b | |
| Investments And Advances | — | — | — | — | — | $0 | $1.5b | $0 | — | — | |
| Investments In Other Ventures Under Equity Method | — | — | — | — | — | $0 | $1.5b | $0 | — | — | |
| Investmentsin Associatesat Cost | — | — | — | — | — | $0 | $1.5b | — | — | — | |
| Land And Improvements | — | — | — | — | — | — | $60.3m | $60.5m | $61.5m | $61.9m | |
| Line Of Credit | — | — | — | — | — | $0 | $0 | — | — | — | |
| Long Term Capital Lease Obligation | — | — | — | — | — | — | $829.3m | $904.4m | $917.2m | $916.5m | |
| Long Term Equity Investment | — | — | — | — | — | $0 | $1.5b | $0 | — | — | |
| Long Term Provisions | — | — | — | — | — | — | $45.1m | $19.1m | $9.5m | $6.4m | |
| Machinery Furniture Equipment | — | — | — | — | — | — | $9.6m | $12.4m | $17.2m | $17.5m | |
| Net Debt | — | — | — | — | — | — | $13.5b | $16.2b | $16.2b | $16.2b | |
| Net PPE | — | — | — | — | — | — | $876.7m | $952.6m | $967.3m | $960.9m | |
| Net Tangible Assets | — | — | — | — | — | — | $21.9b | $25.3b | $26.5b | $27.8b | |
| Non Current Deferred Assets | — | — | — | — | — | — | $31.5m | $30.8m | $27.9m | $41.2m | |
| Non Current Deferred Liabilities | — | — | — | — | — | — | $77.9m | $78.1m | $77.4m | $80.2m | |
| Non Current Deferred Taxes Assets | — | — | — | — | — | — | $0 | $9.4m | $5.9m | $9.5m | |
| Non Current Note Receivables | — | — | — | — | — | — | $685.8m | $1.1b | $1.7b | $2.5b | |
| Ordinary Shares Number | — | — | — | — | — | — | $963.1m | $1.0b | $1.1b | $1.1b | |
| Other Equity Adjustments | — | — | — | — | — | — | $185.4m | $153.9m | $144.6m | $121.0m | |
| Other Non Current Assets | — | — | — | — | — | — | $1.9m | $329k | $1.9m | $2.0m | |
| Other Non Current Liabilities | — | — | — | — | — | — | $125k | $250k | $250k | $250k | |
| Other Properties | — | — | — | — | — | — | $809.5m | $885.7m | $896.9m | $892.9m | |
| Payables | — | — | — | — | — | — | $380.2m | $437.6m | $462.0m | $486.3m | |
| Properties | — | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Share Issued | — | — | — | — | — | — | $963.1m | $1.0b | $1.1b | $1.1b | |
| Tangible Book Value | — | — | — | — | — | — | $21.9b | $25.3b | $26.5b | $27.8b | |
| Working Capital | — | — | — | — | — | — | $16.6b | $18.1b | $18.3b | $18.6b | |
| Total VICI stockholders’ equity | $84.1m | $4.7b | $6.8b | $8.0b | $9.4b | $12.1b | $21.9b | $25.3b | $26.5b | $27.8b | |
| Total stockholders’ equity | — | $4.8b | $6.9b | $8.0b | $9.5b | $12.2b | $22.3b | $25.7b | $27.0b | $28.2b | |
| Total Capitalization | — | — | — | — | — | — | $35.7b | $42.0b | $43.3b | $44.6b | |
| Total Debt | — | — | — | — | — | — | $14.6b | $17.6b | $17.7b | $17.7b | |
| Total Non Current Assets | — | — | — | — | — | — | $20.4b | $25.3b | $26.4b | $27.4b | |
| Assets | — | $9.7b | $11.3b | $13.3b | $17.1b | $17.6b | $37.6b | $44.1b | $45.4b | $46.7b | |
| Total assets | $4.9b | $9.7b | $11.3b | $13.3b | $17.1b | $17.6b | $37.6b | $44.1b | $45.4b | $46.7b | |
| LIABILITIES AND EQUITY | |||||||||||
| Total liabilities and stockholders’ equity | $90.5m | $9.7b | $11.3b | $13.3b | $17.1b | $17.6b | $37.6b | $44.1b | $45.4b | $46.7b | |
| Current Liabilities | — | — | — | — | — | — | $593.6m | $664.8m | $679.9m | $725.0m | |
| Dividends Payable | — | — | $116 | $137 | $177 | $226 | $380 | $438 | $462 | $486 | |
| Accrued expenses and deferred revenue | — | — | — | — | $155.8m | $113.5m | $213.4m | $227.2m | $218.0m | $238.7m | |
| Payables And Accrued Expenses | — | — | — | — | — | — | $593.6m | $664.8m | $679.9m | $725.0m | |
| Deferred Income Tax Liabilities, Net | — | $3.7m | $3.3m | $3.4m | $3.5m | $3.9m | $4.3m | $4.5m | $3.8m | $6.6m | |
| Long-term Debt | — | $4.8b | $4.1b | $4.8b | $6.8b | $4.7b | $13.7b | $16.7b | $16.7b | $16.8b | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | — | — | $14.6b | $17.6b | $17.7b | $17.7b | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | — | — | $4.3m | $4.5m | $3.8m | $6.6m | |
| Deferred Tax Liabilities, Net | — | $3.7m | $3.3m | $3.4m | $3.5m | $3.9m | $4.3m | — | — | — | |
| Liabilities: | |||||||||||
| Liabilities | — | $5.0b | $4.4b | $5.2b | $7.6b | $5.4b | $15.3b | $18.4b | $18.4b | $18.5b | |
| Total liabilities | $6.3m | $5.0b | $4.4b | $5.2b | $7.6b | $5.4b | $15.3b | $18.4b | $18.4b | $18.5b | |
| Stockholders’ equity: | |||||||||||
| Preferred Stock, Value, Issued | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Common Stock, Value, Issued | — | $3.0m | $4.0m | $4.6m | $5.4m | $6.3m | $9.6m | $10.4m | $10.6m | $10.7m | |
| Additional Paid in Capital | — | $4.6b | $6.6b | $7.8b | $9.4b | $11.8b | $21.6b | $24.1b | $24.5b | $24.9b | |
| Retained Earnings (Accumulated Deficit) | $52k | $42.7m | $187.1m | $208.1m | $139.5m | $346.0m | $93.2m | $965.8m | $1.9b | $2.8b | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | — | ($22.1m) | ($65.1m) | ($92.5m) | $884k | $185.4m | $153.9m | $144.6m | $121.0m | |
| Common stock, $0.01 par value, 1,350,000,000 shares authorized and 1,068,811,371 and 1,056,366,685 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | — | 3.0m | 4.0m | 4.6m | 5.4m | 6.3m | 9.6m | 10.4m | 10.6m | 10.7m | |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized and no shares outstanding at December 31, 2025 and 2024 | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Accumulated other comprehensive income | — | $0 | ($22.1m) | ($65.1m) | ($92.5m) | $884k | $185.4m | $153.9m | $144.6m | $121.0m | |
| Capital Stock | — | — | — | — | — | — | $9.6m | $10.4m | $10.6m | $10.7m | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | — | $185.4m | $153.9m | $144.6m | $121.0m | |
| Preferred Stock | — | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Stockholders' Equity Attributable to Parent | — | $4.7b | $6.8b | $8.0b | $9.4b | $12.1b | $21.9b | $25.3b | $26.5b | $27.8b | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $84.9m | $83.6m | $83.8m | $77.9m | $78.9m | $356.5m | $401.8m | $413.8m | $424.9m | |
| Minority Interest | — | — | — | — | — | — | $356.5m | $401.8m | $413.8m | $424.9m | |
| Total Equity Gross Minority Interest | — | — | — | — | — | — | $22.3b | $25.7b | $27.0b | $28.2b | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | — | — | — | $14.7b | $17.7b | $17.7b | $17.8b | |
| Liabilities and Equity | — | $9.7b | $11.3b | $13.3b | $17.1b | $17.6b | $37.6b | $44.1b | $45.4b | $46.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.