VICI · News · 20260805N

Leverage and Tenant Concentration

VICI PROPERTIES INC. · 2026-08-05 · Importance 38 · Surprise 24

VICI Properties reported leverage of approximately 4.9x and described its liquidity as ample. The company’s $1.75 billion debt issuance is intended to refinance near-term 2026 maturities and support expansion. Third-party reporting identified Caesars Entertainment’s regional master lease negotiations and tenant concentration as continuing financial risks. Fitch Ratings assigned the company a BBB- credit rating.

Key facts

• Leverage was 4.9x. source
• Fitch Ratings assigns VICI a BBB- rating, as noted in the coverage. source
• Institutional investors and hedge funds collectively own 97.71% of VICI's outstanding shares (reported in multiple filings). source