VICI Properties Prices $1.75B in Bonds to Pay Off Near-Term Maturities

VICI Properties, the largest owner of casino real estate on the Las Vegas Strip, announced today that it has priced $1.75 billion in senior unsecured notes. The bond offering is aimed at eliminating or reducing debt that comes due later this year.

The REIT said the proceeds will be used to pay off near‑term maturities, strengthening its balance sheet and providing flexibility for future investments. The deal includes $900 million of bonds with a specific maturity date, alongside additional tranches that together total the $1.75 billion.

Investors welcomed the move, noting that VICI's proactive debt management helps mitigate refinancing risk in a rising‑rate environment. The company continues to focus on its core portfolio of iconic Strip properties while maintaining a disciplined approach to capital structure.

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