VICI PROPERTIES INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 1,421,265	$ 1,430,633
Adjustments to reconcile net income to cash flows provided by operating activities:
Non-cash leasing and financing adjustments	(271,774)	(261,971)
Stock-based compensation	8,734	7,343
Depreciation	1,965	1,737
Other losses (gains)	366	(874)
Amortization of debt issuance costs and original issue discount	21,912	24,784
Change in allowance for credit losses	152,284	44,956
Deferred income taxes	10	72
Payment-in-kind interest	(13,543)	(10,747)
Receipt of payment-in-kind interest	51,089	0
Net proceeds from settlement of derivatives	0	1,767
Change in operating assets and liabilities:
Other assets	4,546	(6,247)
Accrued expenses and deferred revenue	(13,458)	2,610
Other liabilities	(3,354)	(2,305)
Net cash provided by operating activities	1,360,042	1,231,758
Cash flows from investing activities
Investments in leases - sales-type	(141,717)	0
Investments in leases - financing receivables	(435,035)	0
Investments in loans and securities	(943,227)	(723,944)
Principal repayments of loans and securities and receipts of deferred fees	473,016	7,514
Payments for real estate under development	(22,317)	0
Capitalized transaction costs	(247)	(77)
Maturities of short-term investments	44,484	0
Acquisition of property and equipment	(794)	(828)
Proceeds from sale of real estate	0	1,992
Net cash used in investing activities	(1,025,837)	(715,343)
Cash flows from financing activities
Proceeds from offering of common stock, net	241,779	0
Proceeds from Revolving Credit Facility	280,185	423,356
Repayment of Revolving Credit Facility	(150,000)	(257,690)
Proceeds from senior unsecured notes offerings	0	1,284,437
Redemption of senior unsecured notes	0	(1,300,000)
Debt issuance costs	(120)	(19,401)
Repurchase of stock for tax withholding	(2,298)	(7,221)
Distributions to non-controlling interests	(16,509)	(15,981)
Dividends paid	(962,298)	(915,912)
Net cash used in financing activities	(609,261)	(808,412)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(360)	365
Net decrease in cash, cash equivalents and restricted cash	(275,416)	(291,632)
Cash, cash equivalents and restricted cash, beginning of period	563,479	524,615
Cash, cash equivalents and restricted cash, end of period	288,063	232,983
Supplemental cash flow information:
Cash paid for interest	397,661	381,773
Cash paid for capitalized interest	56	0
Cash paid for income taxes	3,963	3,311
Supplemental non-cash investing and financing activity:
Dividends and distributions declared, not paid	500,988	462,315
Accrued capitalized transaction costs	582	520
Non-cash change in Investments in leases - financing receivables	152,244	141,695
Reclassification from Investment in leases - financing receivables to Investment in leases - sales-type	$ 706,115	$ 0