VICI Properties Q1 2025: AFFO growth, investment in luxury projects and expansion

Real estate investment trust VICI Properties entered 2025 with solid results that confirm its stable business model and ability to grow even in a more challenging market environment. The company continues to successfully expand its portfolio not only in the traditional gaming real estate sector, but also in attractive segments such as luxury urban developments and projects on tribal lands. The first quarter was marked by growth in operating metrics, capital activity and strategic partnerships.

Underpinning VICI's performance is the predictable and stable cash flow generated from long-term triple-net leases, which help the company maintain high operating efficiencies. It is this model that allows VICI to regularly increase its adjusted funds from operations (AFFO), a key indicator of the REIT's ability to pay dividends. In the first quarter of 2025, AFFO grew 5.6% year-over-year, while revenue grew 3.4%.

How was the most recent quarter?

VICI Properties $VICI ended the first quarter of…