VICI Properties Inc. (VICI) Revenue History
Annual and quarterly revenue from 2015 to present
VICI Revenue Over Time (2015–2025)
VICI Revenue Growth History
9 of 10 years with positive growth- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- +3.9%
- FY2017 revenue growth
- +972.3%
- FY2018 revenue growth
- +345.8%
- FY2019 revenue growth
- -0.4%
- FY2020 revenue growth
- +37.0%
- FY2021 revenue growth
- +23.2%
- FY2022 revenue growth
- +72.3%
- FY2023 revenue growth
- +38.9%
- FY2024 revenue growth
- +6.6%
- FY2025 revenue growth
- +4.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $1.02B | +3.5% |
| Q4 2025 | $1.01B | +3.8% |
| Q3 2025 | $1.02B | +5.2% |
| Q2 2025 | $1.00B | +4.6% |
| Q1 2025 | $984.2M | +3.4% |
| Q4 2024 | $976.1M | +4.7% |
| Q3 2024 | $964.7M | +6.7% |
| Q2 2024 | $957.0M | +6.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2021)
VICI's revenue distribution by segment and geography for fiscal year 2021
By Product/Segment
VICI Revenue Analysis (2015–2025)
Current Revenue & Growth
As of June 21, 2026, VICI Properties Inc. (VICI) generated trailing twelve-month (TTM) revenue of $4.05 billion, reflecting modest growth of +3.5% year-over-year. The most recent quarter (Q1 2026) recorded $1.02 billion in revenue, up 0.5% sequentially.
Historical Growth Trajectory
VICI's 5-year compound annual growth rate (CAGR) stands at +26.7%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +15.5% is below the 5-year average, signalling a growth deceleration in recent years. VICI Properties Inc.'s highest annual revenue of $4.01 billion was recorded in 2025, an all-time high.
Revenue by Segment
VICI's revenue is primarily driven by Real Property Business Segment (100%). With over half of revenue concentrated in Real Property Business Segment, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Real Estate sector peers — including GLPI (+0.3% YoY), EPR (+7.9% YoY), and O (+9.8% YoY) — VICI has underperformed the peer group in revenue growth. Compare VICI vs GLPI →
VICI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| VICICurrent | $4.0B | +3.5% | +26.7% | 91.1% | |
 GLPI | $1.6B | +0.3% | +6.7% | 75.3% | |
 EPR | $718M | +7.9% | +12.1% | 52.5% | |
 O | $5.7B | +9.8% | +28.4% | 28.3% | |
 NNN | $926M | +5.8% | +7.0% | 61.5% | |
 WPC | $1.7B | +24.5% | +8.0% | 44.4% |
VICI Historical Revenue Data (2015–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.01B | +4.1% | $3.97B | 99.2% | $3.65B | 91.1% |
| 2024 | $3.85B | +6.6% | $3.82B | 99.3% | $3.54B | 92.1% |
| 2023 | $3.61B | +38.9% | $3.58B | 99.3% | $3.34B | 92.6% |
| 2022 | $2.60B | +72.3% | $2.58B | 99.1% | $1.63B | 62.8% |
| 2021 | $1.51B | +23.2% | $1.49B | 98.6% | $1.44B | 95.7% |
| 2020 | $1.23B | +37.0% | $1.19B | 97.3% | $913.2M | 74.5% |
| 2019 | $894.8M | -0.4% | $875.9M | 97.9% | $842.5M | 94.2% |
| 2018 | $898.0M | +345.8% | $798.8M | 89.0% | $758.0M | 84.4% |
| 2017 | $201.4M | +972.3% | $167.7M | 83.2% | $144.2M | 71.6% |
| 2016 | $18.8M | +3.9% | $5.0M | 26.9% | $7K | 0.0% |
| 2015 | $18.1M | - | $4.7M | 25.8% | $18K | 0.1% |
Full Stock Analysis
Deep dive into VICI consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
VICI — Frequently Asked Questions
Quick answers to the most common questions about buying VICI stock.
Is VICI's revenue growth accelerating or slowing?
VICI revenue growth is slowing. TTM revenue is $4.0B, up +3.5% year-over-year — below the 5-year CAGR of +26.7%. The deceleration suggests maturing end-markets or increased competition.
What is VICI's revenue history from 2015 to 2026?
VICI Properties Inc. (VICI) revenue history spans 2015 to 2026. TTM revenue as of 2026 is $4.0B, growing at +3.5% YoY. The 5-year CAGR is +26.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is VICI's long-term revenue growth rate (CAGR)?
VICI Properties Inc.'s 5-year revenue CAGR of +26.7% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +3.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for VICI.
Why does VICI's quarterly revenue fluctuate?
VICI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. VICI Properties Inc.'s revenue data from 2015 to 2026 shows full historical quarterly detail on this page.
How is VICI's revenue distributed by segment?
VICI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does VICI's revenue compare to industry peers?
VICI Properties Inc. (VICI) with TTM revenue of $4.0B and +3.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.