Vici revenue, profit tick up in first quarter – CDC Gaming

Reporting its first-quarter earnings, Vici Properties had black ink to show for itself. The real estate investment trust (REIT) saw revenue bob 3.5 percent higher to $1 billion, up from $894.2 million in the first quarter of 2025. Profits leapt 60.5 percent to $872.4 million. It was $543.6 million the previous year.

The quarter was marked by several gaming-related transactions. Most recently, Vici’s MGM Northfield Park made the transition to operation by Clairvest Group on April 21.

Vici also expected that its purchase of seven Golden Entertainment-branded casinos would close April 30. Should the deal close as anticipated, Golden shareholders would receive 24.3 million shares of newly issued Vici stock. Vici will also take on $426 million in Golden debt, to be retired immediately.

The REIT ended the first quarter with $480.2 million in cash or its equivalent. Its long-term debt stood at $17.1 billion.

In a prepared statement, Vici President Edward Pitoniak said, “This quarter demonstrated what we believe to be one of Vici’s most durable competitive advantages: the ability to grow through deepening relationships with our existing partners. … As we look ahead to the expected closings of our Golden Entertainment and Gamehost transactions, we remain confident that Vici’s partner-driven model will continue to generate attractive, sustained growth for our shareholders.”