VICI Properties | Q2 2025: AFFO growth, new projects and increased full-year outlook

VICI Properties has had another quarter that demonstrates the stability of its model and its ability to grow in a higher rate environment. The company continues to build a portfolio based on long-term leases while actively entering into attractive projects through loans and mezzanine financing. This provides a combination of stable income and new growth opportunities.

Investors appreciate that management not only maintains a conservative approach to the balance sheet and financing, but also systematically increases the dividend potential. Recent results have not only delivered solid growth in key financial metrics, but also an increase in the full-year outlook, underscoring management's confidence in the company's ability to generate stable cash flow in the months ahead.

How was the last quarter?

VICI $VICI grew revenue 4.6% year-over-year to about $1 billion. Net income to shareholders rose 17% to $865 million, which was also an improvement at the earnings per share level. The most…