For the year ending 2025-12-31, VICI had $38,864K increase in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 2,818,544 | 2,721,242 | 2,554,622 | 1,136,267 |
| Non-cash leasing and financing adjustments | 523,920 | 537,708 | 515,488 | 337,631 |
| Stock-based compensation | 16,195 | 17,511 | 15,536 | 12,986 |
| Non-cash transaction costs | - | 0 | 0 | 8,816 |
| Depreciation | 3,637 | 4,125 | 4,298 | 3,182 |
| Other gains | 2,658 | 581 | 4,456 | - |
| Net proceeds from settlement of derivatives | - | - | 0 | 201,434 |
| Amortization of debt issuance costs and original issue discount | 46,831 | 46,668 | 46,123 | 32,363 |
| Loss on extinguishment of debt | - | - | 0 | 0 |
| Change in allowance for credit losses | 177,887 | 126,720 | 102,824 | - |
| Deferred income taxes | -1,743 | 5,439 | -10,426 | - |
| Payment-in-kind interest | 37,547 | - | - | - |
| Change in allowance for credit losses | - | - | - | 834,494 |
| Net proceeds from settlement of derivatives | 1,767 | 9,602 | - | - |
| Income from unconsolidated affiliate | 0 | 0 | 1,280 | 59,769 |
| Gain upon lease modification | - | - | - | 0 |
| Distributions from unconsolidated affiliate | 0 | 0 | 3,273 | 64,808 |
| Other assets | 441 | -3,428 | -5,124 | 5,673 |
| Accrued expenses and deferred revenue | 12,986 | -13,443 | -11,645 | 52,261 |
| Other liabilities | -1,547 | -1,505 | -7,496 | -142 |
| Net cash provided by operating activities | 2,509,991 | 2,381,498 | 2,181,009 | 1,943,396 |
| Net cash paid to acquire businesses-MGP | - | - | 0 | - |
| Net cash paid to acquire businesses-MGMGrand Mandalay Bay JV | - | 0 | 1,266,905 | - |
| Investments in leases - sales-type | 0 | 411,800 | 241,139 | 4,017,851 |
| Investments in leases - financing receivables | 0 | 248 | 1,131,996 | 296,668 |
| Investments in loans and securities | 887,246 | 579,057 | 959,135 | 193,733 |
| Principal repayments of lease financing receivables | - | - | - | 0 |
| Principal repayments-Finance Receivables | - | - | 0 | - |
| Principal repayments of loans and securities and receipts of deferred fees | 27,489 | 80,750 | - | 5,696 |
| Principal repayments-Loans And Securities Receivable | - | - | 482,006 | - |
| Net cash paid to acquire businesses-MGMGrowth Properties Acquisition | - | 0 | - | - |
| Net cash paid in connection with the mgm grand/mandalay bay jv interest acquisition | 0 | - | - | 4,574,536 |
| Capitalized transaction costs | 4,692 | 5,863 | 1,468 | 7,704 |
| Investments in short-term investments | 44,484 | 29,579 | 0 | 306,532 |
| Maturities of short-term investments | 0 | 29,579 | 217,342 | 89,190 |
| Proceeds from sale of real estate | 5,502 | 963 | 6,235 | 0 |
| Acquisition of property and equipment | 1,335 | 7,526 | 4,035 | 1,876 |
| Net cash used in investing activities | -904,766 | -922,781 | -2,899,095 | -9,304,014 |
| Proceeds from offering of common stock, net | 375,349 | 378,687 | 2,480,105 | 3,219,101 |
| Proceeds from revolving credit facility | 426,024 | 82,200 | 419,148 | 600,000 |
| Repayment of term loan b facility | - | - | 0 | 0 |
| Repayment of revolving credit facility | 439,942 | 94,306 | 250,000 | 600,000 |
| Proceeds from senior unsecured notes offerings | 1,284,437 | 1,771,168 | 0 | 5,000,000 |
| Redemption of second lien notes | - | - | - | 0 |
| Redemption of senior unsecured notes | 1,300,000 | 1,800,000 | - | - |
| Cplv cmbs debt prepayment penalty reimbursement | - | - | - | 0 |
| Debt issuance costs | 19,481 | 5,303 | 105 | 146,189 |
| Repurchase of stock for tax withholding | 7,232 | 5,341 | 4,966 | 6,156 |
| Distributions to non-controlling interests | 32,209 | 31,235 | 28,552 | 17,702 |
| Dividends paid | 1,853,467 | 1,752,991 | 1,583,840 | 1,219,117 |
| Net cash (used in) provided by financing activities | -1,566,521 | -1,457,121 | 1,031,790 | 6,829,937 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 160 | 445 | -63 | - |
| Net increase in cash, cash equivalents and restricted cash | 38,864 | 2,041 | 313,641 | -530,681 |
| Cash, cash equivalents and restricted cash, beginning of period | 524,615 | 522,574 | 208,933 | 739,614 |
| Cash, cash equivalents and restricted cash, end of period | 563,479 | 524,615 | 522,574 | 208,933 |
VICI PROPERTIES INC. (VICI)
VICI PROPERTIES INC. (VICI)