VICI Properties (NYSE:VICI) is a real estate investment trust (REIT) specializing in gaming, hospitality and entertainment destinations. Established in 2017 as a spin-off from Caesars Entertainment Operating Company, VICI’s core business involves acquiring, owning and leasing a diversified portfolio of experiential assets. The company structures long-term, triple-net leases with leading operators, ensuring stable rental income while allowing tenants to manage day-to-day operations.
Since its inception, VICI has grown its portfolio through strategic acquisitions and partnerships. The REIT’s holdings encompass integrated resorts, casinos, hotels, racetracks and golf courses located across the United States and Canada. These assets include marquee properties on the Las Vegas Strip, regional resort destinations and landmark racetracks, each selected for its strong market position and potential for long-term cash flow generation.
VICI’s geographic footprint spans key gaming and tourism markets, from metropolitan centers to regional leisure hubs. By focusing on experiential real estate, the company leverages secular trends in entertainment, leisure and travel. Its asset‐light model enables VICI to deploy capital efficiently, maintaining discipline in acquisitions while pursuing opportunities that enhance portfolio diversification and tenant credit quality.
Leadership at VICI Properties combines deep real estate and hospitality expertise. The board is chaired by industry veteran John J. Payne, while day-to-day operations are overseen by President and Chief Executive Officer David Braun. Supported by a management team with backgrounds in REIT operations and gaming partnerships, VICI maintains a governance framework designed to uphold transparency, rigorous underwriting standards and alignment with long-term shareholder interests.
