Vici Properties raises full-year outlook as revenue growth accelerates
The real estate investment trust updated its 2026 adjusted funds from operations guidance to a range between $2.675 billion and $2.695 billion
Vici Properties (VICI) reported total revenues of $1.1 billion for the second quarter of 2026, marking a 5.7% increase year-over-year.
The growth rate accelerated from the 3.5% year-over-year increase the company reported in the first quarter. This trajectory coincided with a rise in adjusted funds from operations (AFFO) attributable to common stockholders, which grew 7.8% year-over-year to $679.6 million. This followed a 5.7% increase in the prior quarter.
AFFO per share rose 4.6% year-over-year to $0.62. This represented a slight acceleration from the 4.5% increase reported in the first quarter.
Net income attributable to common stockholders fell 39.1% year-over-year to $526.5 million. The result was driven by a $413.1 million aggregate change in the CECL allowance. The decline followed a 60.5% year-over-year increase in the first quarter.
The company expanded its tenant roster by three, adding Clairvest, Golden Entertainment, and Club Med. Vici closed the $1.16 billion acquisition of seven Nevada casino properties from Golden Entertainment. It also completed the acquisition of the Gamehost Portfolio in Alberta, Canada, for approximately $141.0 million.
In a new build-to-suit transaction, Vici acquired the Carambola Beach Resort from Club Med for $20.3 million and committed approximately $55.2 million for redevelopment.
Vici updated its full-year 2026 AFFO guidance to between $2.675 billion and $2.695 billion, or $2.45 to $2.47 per diluted share. The company raised the low end of the range from its prior guidance of $2.665 billion, or $2.44 per share.
Cash and cash equivalents decreased to $288.1 million at the end of the second quarter, down from $480.2 million at the end of the first quarter.