VICI PROPERTIES INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)		Jun. 30, 2026	Dec. 31, 2025
Real estate portfolio:
Investments in leases - sales-type, net	[1]	$ 24,577,355,000	$ 23,706,563,000
Real estate under development		23,272,000	0
Land		148,002,000	148,002,000
Cash and cash equivalents		288,063,000	563,479,000
Short-term investments		0	44,484,000
Other assets	[1]	1,037,160,000	1,039,050,000
Total assets		48,271,220,000	46,724,168,000
Liabilities
Debt, net		16,931,155,000	16,773,241,000
Accrued expenses and deferred revenue		220,415,000	238,715,000
Dividends and distributions payable		500,755,000	486,259,000
Other liabilities		1,016,184,000	1,003,366,000
Total liabilities		18,668,509,000	18,501,581,000
Commitments and contingent liabilities (Note 10)
Stockholders’ equity
Common stock, $0.01 par value, 1,350,000,000 shares authorized and 1,101,074,906 and 1,068,811,371 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively		11,011,000	10,688,000
Preferred stock, $0.01 par value, 50,000,000 shares authorized and no shares outstanding at June 30, 2026 and December 31, 2025		0	0
Additional paid-in capital		25,854,906,000	24,898,868,000
Accumulated other comprehensive income		115,412,000	121,031,000
Retained earnings		3,189,420,000	2,767,053,000
Total VICI stockholders’ equity		29,170,749,000	27,797,640,000
Non-controlling interests		431,962,000	424,947,000
Total stockholders’ equity		29,602,711,000	28,222,587,000
Total liabilities and partners’ capital		48,271,220,000	46,724,168,000
Investments in leases - financing receivables, net
Real estate portfolio:
Investments in leases - financing receivables, net	[1]	19,280,057,000	18,697,133,000
Investments in loans and securities, net
Real estate portfolio:
Investments in leases - financing receivables, net	[1]	$ 2,917,311,000	$ 2,525,457,000

[1] As of June 30, 2026 and December 31, 2025, our Investments in leases - sales-type, Investments in leases - financing receivables, Investments in loans and securities, and Other assets (sales-type sub-leases) are net of allowance for credit losses of $1,014.8 million, $769.0 million, $92.1 million and $27.0 million, respectively, and $919.2 million, $769.9 million, $56.4 million and $23.9 million, respectively. Refer to Note 5 - Allowance for Credit Losses for further details.