• VICI Properties and Club Med have announced that VICI acquired the historic 150-key Carambola Beach Resort in St. Croix, U.S. Virgin Islands, and entered into a long-term triple-net lease under which VICI will fund a sustainability-focused redevelopment to Club Med’s Exclusive Collection standards, with construction slated to begin in summer 2026 and reopening targeted for fourth-quarter 2027.
• This partnership brings Club Med back onto U.S. soil and extends VICI’s experiential hospitality footprint into premium all-inclusive resort real estate, tying together long-duration rent, environmental certifications, and local economic development in a single project.
• We’ll now explore how VICI’s long-term, triple-net partnership with Club Med for Carambola Beach Resort affects its broader investment narrative.

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VICI Properties Investment Narrative Recap

To own VICI, you need to believe in the durability of experiential, triple net leased real estate and the REIT’s ability to keep broadening its tenant base beyond traditional casinos. The Carambola Beach Resort deal fits that story but is unlikely to change the key near term focus on managing tenant concentration and execution risk in VICI’s growing pipeline of development and mezzanine lending commitments.

The most relevant recent announcement alongside Carambola is VICI’s regular US$0.45 per share quarterly dividend, reaffirmed for the June 2026 quarter. Together with the long duration Club Med lease, it reinforces how VICI is pairing incremental experiential growth projects with a steady income profile, which remains central to how many investors view the stock’s main catalyst.

Yet even as VICI expands into non gaming experiential assets, investors should be aware that...

VICI Properties' narrative projects $4.5 billion revenue and $3.4 billion earnings by 2029.

Uncover how VICI Properties' forecasts yield a $34.17 fair value, a 22% upside to its current price.

Exploring Other Perspectives

Five members of the Simply Wall St Community value VICI between US$34.17 and US$52.78 per share, highlighting very different return expectations. Set against VICI’s push into development and mezzanine lending, this spread in views underlines why you should weigh multiple opinions on how those risks could affect future performance.

Explore 5 other fair value estimates on VICI Properties - why the stock might be worth as much as 89% more than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your VICI Properties research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free VICI Properties research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate VICI Properties' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.