In second quarter 2026, revenue for real estate investment trust Vici Properties expanded 5.7 percent to $1.1 billion. Simultaneously, profits attributable to shareholders went down 39.1 percent to $526.5 million, due to accounting changes.
The big news of Vici’s second-quarter report was the announcement of a build-to-suit deal, Vici’s first, with Club Med. For $20.3 million, Vici has obtained Carambola Beach Resort on St. Croix in the Virgin Islands. It will be leased to Club Med, making the latter Vici’s 16th tenant. Vici will then lend $55.2 million to Club Med for redevelopment of the resort.
Vici also closed its acquisition of two Alberta-based casinos in Canada. The deal, done in conjunction with Pure Gaming Entertainment, cost Vici $141 million.
Vici ended the quarter with $288.1 million cash on hand and debt of $17.2 billion, a 4.9-times ratio of debt to cash flow.
Referring to Club Med, Clairvest (new owner of Vici asset MGM Northfield Park), and new partner Golden Entertainment, Vici CEO Edward Pitoniak said in a prepared statement, “Each one of these new tenants is an experienced operator that broadens and strengthens the diversity of Vici’s rent roll. In the case of Club Med, we are expanding our investment practice categorically and geographically, with a global hospitality brand committed to global growth.”
