VICI Properties is a real estate investment trust that owns and leases gaming, hospitality, entertainment and leisure properties primarily to leading casino operators under long-term triple-net leases. The company's portfolio spans approximately 127 million square feet across the United States and Canada, including iconic assets such as Caesars Palace and MGM Grand, with all properties fully leased at weighted average lease terms exceeding 39 years. VICI generates revenue through rental income where tenants bear all operating costs, maintenance and taxes, with most leases incorporating inflation-linked escalations, and the company distributes at least 90% of taxable income to shareholders while maintaining investment-grade credit ratings.