Vici Properties (VICI)
NYSEReal EstateReit - DiversifiedSnapshot 2026-07-07
$26.78+0.30%
Close 2026-07-07 · 1-day change
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Track VICI free→Intact: The reason to own it still holds.
VICI owns top gaming and entertainment real estate, including Caesars Palace. It raised its AFFO guidance to about $2.68 billion for 2026. Revenue grew 3.5% year-over-year in Q1 2026 to $1 billion. The company is expanding through a $1.16 billion acquisition of Golden Entertainment.
Revenue growth is modest at 3.5% and earnings missed estimates recently. The sector faces headwinds and the stock is down 8.3% from its high. AFFO growth is mixed and the acquisition could strain resources.
The stock trades about 30% below our fair value near $38. Analysts expect about 5% revenue growth. Our fair value is 21% above the Street median, reflecting some optimism on growth and partnerships.
Breaks if: AFFO falls below $2.51 billion in FY26
VICI has raised its AFFO guidance for the full year 2026.
Stated in 2 of last 2 quarters. AFFO guidance for 2026 was raised to between $2,665 million and $2,695 million. AFFO per share increased from $0.58 in 2025-Q1 to $0.61 in 2026-Q1, showing some alignment with guidance. The trajectory indicates progress but requires further monitoring.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Raised AFFO guidance for full year 2026 to between $2,665 million and $2,695 million.”
“Estimated AFFO per diluted share $2.42 $2.45.”
Breaks if: revenue growth falls below 3% YoY next year
VICI plans to finalize the acquisition of Golden Entertainment properties.
Stated in 2 of last 2 quarters. The $1.16 billion acquisition of Golden Entertainment is pending final closing conditions. Revenue increased from $951.5M in 2025-Q1 to $1.0B in 2026-Q1, indicating growth. The trajectory shows progress towards completion.
“Announced that all gaming regulatory and shareholder approvals had been met for the $1.16 billion acquisition...”
“Announced an agreement to acquire 100% of the land, real property and improvements of seven casino properties...”
Breaks if: AFFO growth falls below 3% YoY
VICI aims to grow through deepening relationships with existing partners.
Stated in 2 of last 2 quarters. AFFO increased 5.7% year-over-year to $650.9 million in 2026-Q1, indicating growth through strategic partnerships. The trajectory shows delivering on partnership expansion.
“CEO: 'Our expansion of the One Beverly Hills mezzanine loan to $1.5 billion alongside Cain and Eldridge...'”
“CEO: 'We are proud to have announced several new partnerships in 2025...'”