---
schema_version: "secwatch.filing_event.v1"
accession: "0001705696-25-000032"
form_type: "8-K"
ticker: "VICI"
cik: "0001705696"
company_name: "VICI PROPERTIES INC."
filed_at: "2025-02-20T23:59:59+00:00"
generated_at: "2026-05-26T09:01:26.581035+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "medium"
source: SEC EDGAR
---

# VICI Q4 revenue +4.7% to $976M; AFFO $0.57 (+5.4%); FY24 AFFO $2.26; 2025 guidance

## Summary
- Q4 total revenues $976.1M (+4.7% YoY); net income $614.6M ($0.58) down 17.8% on CECL change.
- Q4 AFFO $601.3M ($0.57) up 5.4% YoY; FY24 AFFO $2.37B ($2.26) up 8.4%.
- Announced ~$1.1B capital commitments at 8.1% yield in 2024 (Venetian $700M, Great Wolf $250M, Homefield $105M).
- Post-Q4: new $2.5B revolving credit facility; $300M mezzanine loan for One Beverly Hills with Cain/Eldridge.
- Moody's upgraded to Baa3; annualized dividend increased 4.2% in Q3.

## SEC filing metadata
- accession: 0001705696-25-000032
- form_type: 8-K
- ticker: VICI
- cik: 0001705696
- company_name: VICI PROPERTIES INC.
- filed_at: 2025-02-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: medium
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1705696/000170569625000032/0001705696-25-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1705696/000170569625000032/vici-20250220.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001705696-25-000032
- JSON: https://secwatch.observer/filing/0001705696-25-000032.json
- Plain text: https://secwatch.observer/filing/0001705696-25-000032.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.