VICI Properties Hits a New 52-Week Low: Is It Time for Income Investors to Place a Bet?

Core Viewpoint - VICI Properties, a Las Vegas-based REIT, has reached a new 52-week low, marking its 11th low in the past 12 months, despite having strong real estate holdings and stable income potential from its properties [1][2]. Company Overview - VICI Properties owns 93 properties across the U.S. and Canada, including 54 gaming and 39 non-gaming properties, totaling 127 million square feet, 60,300 hotel rooms, and over 500 bars, restaurants, and sportsbooks [4]. - The company also manages four championship golf courses located in Las Vegas, Indiana, and Mississippi [4]. Financial Performance - The annualized cash generated from triple-net leases at VICI's properties is $3.28 billion through October 1, 2025 [5]. - Approximately 42% of its rents are subject to CPI-linked increases in 2025, with 90% subject to such increases over the long term, indicating a stable income stream [5]. Market Conditions - The state of Las Vegas tourism is currently not favorable, which poses a challenge for VICI Properties [6]. - Proposition betting is gradually impacting traditional gambling and sports betting, which could affect the company's revenue streams [6].