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VICI PROPERTIES INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Real estate portfolio:    
Investments in leases - sales-type, net [1] $ 23,763,616 $ 23,581,101
Land 149,717 150,727
Cash and cash equivalents 507,503 524,615
Other assets [1] 1,041,932 1,030,644
Total assets 46,535,840 45,368,940
Liabilities    
Debt, net 16,762,660 16,732,889
Accrued expenses and deferred revenue 182,651 217,956
Dividends and distributions payable 486,258 461,954
Other liabilities 1,006,993 1,004,340
Total liabilities 18,438,562 18,417,139
Commitments and contingent liabilities (Note 10)
Stockholders’ equity    
Common stock, $0.01 par value, 1,350,000,000 shares authorized and 1,068,808,694 and 1,056,366,685 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 10,688 10,564
Preferred stock, $0.01 par value, 50,000,000 shares authorized and no shares outstanding at September 30, 2025 and December 31, 2024 0 0
Additional paid-in capital 24,894,452 24,515,417
Accumulated other comprehensive income 125,198 144,574
Retained earnings 2,643,251 1,867,400
Total VICI stockholders’ equity 27,673,589 26,537,955
Non-controlling interests 423,689 413,846
Total stockholders’ equity 28,097,278 26,951,801
Total liabilities and partners’ capital 46,535,840 45,368,940
Investments in leases - financing receivables, net    
Real estate portfolio:    
Investments in leases - financing receivables, net [1] 18,640,073 18,430,320
Investments in loans and securities, net    
Real estate portfolio:    
Investments in leases - financing receivables, net [1] $ 2,432,999 $ 1,651,533
[1] As of September 30, 2025 and December 31, 2024, our Investments in leases - sales-type, Investments in leases - financing receivables, Investments in loans and securities, and Other assets (sales-type sub-leases) are net of allowance for credit losses of $802.1 million, $750.7 million, $39.0 million and $20.4 million, respectively, and $802.7 million, $737.1 million, $25.0 million and $20.6 million, respectively. Refer to Note 5 - Allowance for Credit Losses for further details.