Investment Thesis
VICI Properties is a gaming REIT owning premier Las Vegas and regional casino real estate under triple-net leases. Long-term CPI-linked escalators and experiential investments deliver predictable AFFO.
- Blue-Chip Tenants: Caesars, MGM, and Hard Rock provide stable rent coverage.
- Experiential Expansion: Investments in golf, attractions, and hospitality diversify cash flows.
- Embedded Growth: Contractual escalators and development pipelines raise AFFO.