Real Estate Transactions (Tables)

6 Months Ended

Jun. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Asset Acquisition

We determined that the Golden Entertainment Transaction should be accounted for as an asset acquisition under ASC 805-50, with $1.15 billion of total consideration transferred comprised of the following:

(In thousands)	Amount
Merger Consideration (1)	$	709,468
Repayment of Golden Entertainment outstanding debt (2)	426,000
Transaction costs (3)	13,230
Total purchase price	$	1,148,698

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(1) Amount represents the dollar value of approximately 24.3 million shares of VICI common stock, multiplied by the VICI stock price at the time of closing of $29.20 per share, which were issued in exchange for the outstanding shares of Golden Entertainment stock.

(2) Represents the total amount paid to retire Golden Entertainment’s outstanding debt. In connection with the Golden Entertainment Transaction, such amount was repaid in full and the related credit agreements were terminated.

(3) In accordance with ASC 805-50, all direct and incremental costs related to the Golden Transaction, primarily related to success-based fees and third-party advisory fees, were included in the consideration transferred.

Schedule of Loan Originations

The following table summarizes our real estate debt investment activity during the six months ended June 30, 2026:

(In thousands)
Investment Name	Maximum Principal Amount		Investment Type	Collateral
One Beverly Hills Loan	$	1,500,000	Mezzanine	Luxury experiential lifestyle hub in Beverly Hills, California
Chelsea Piers Stamford Loan	10,000		Senior Secured Loan	Certain equipment of the fitness club in Stamford, Connecticut
Chelsea Piers Jersey City Loan	6,000		Senior Secured Loan	Certain equipment of the fitness club in Jersey City, New Jersey
Total	$	1,516,000