VICI — what changed in the latest 10-Q
A section-by-section comparison of VICI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-28 vs the prior 10-Q · 2026-07-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +14 | −6 | ~49 | 44 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 2 |
| Controls & procedures | Text added/removed | +1 | −2 | ~2 | 3 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-28
•Century Casinos Canada Severance Lease. On September 28, 2026, in connection with Century Casinos’ agreement to sell the operations of the Century Canada Racinos to a subsidiary of Highfield, we announced an agreement to enter into (i) the Highfield Master Lease, a new separate triple-net lease agr…
and an initial term of 30 years, with four 5-year tenant renewal options. Rent under the Golden Entertainment Master Lease will escalate annually at 2.0% beginning in Lease Year 3. The obligations of Golden OpCo under the Golden Entertainment Master Lease are guaranteed by a holding company owned an…
•Senior Unsecured Notes Offering. On August 14, 2026, VICI LP issued the August 2026 Notes, comprised of (i) $900.0 million aggregate principal amount of 5.400% Senior Notes due 2031, which mature on October 15, 2031, and (ii) $850.0 million aggregate principal amount of 5.750% Senior Notes due 2036…
•Forward-Starting Interest Rate Swaps. During the nine months ended September 30, 2026, we entered into twelve forward-starting interest rate swap agreements for an aggregate notional amount of $600.0 million and four U.S. Treasury Rate Lock agreements for an aggregate notional amount of $500.0 mill…
•At-The-Market Offering Program. During the nine months ended September 30, 2026, we did not sell any shares under the ATM Program. During the nine months ended September 30, 2026, we physically settled 7,750,000 forward shares under the ATM Program in exchange for total net settlement proceeds of a…
Text removed vs the prior filing · source: 10-Q · 2026-07-29
•Forward-Starting Interest Rate Swaps. During the six months ended June 30, 2026, we entered into twelve forward-starting interest rate swap agreements for an aggregate notional amount of $600.0 million to hedge against changes in future cash flows resulting from changes in interest rates from the t…
•At-The-Market Offering Program. During the six months ended June 30, 2026, we did not sell any shares under the ATM Program. On April 29, 2026, we physically settled 7,750,000 forward shares under the ATM Program in exchange for total net settlement proceeds of approximately $242.1 million.
Change in allowance for credit losses increased $413.1 million and $107.3 million during the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025, respectively, primarily as a result of (i) the initial CECL allowance recorded on our acquisi…
Interest expense decreased $3.9 million and $3.8 million during the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025, respectively. The decrease was primarily driven by lower average debt outstanding and lower amortization of noncash or…
•Draws of $423.4 million and repayments of $257.7 million on our Revolving Credit Facility;
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-10-28
There have been no changes in VICI’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three months ended September 30, 2026, that have materially affected, or are reasonably likely to materially affect, VICI’s int…
Text removed vs the prior filing · source: 10-Q · 2026-07-29
financial officer concluded that VICI’s disclosure controls and procedures were effective as of the end of the period covered by this report.
There have been no changes in VICI’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three months ended June 30, 2026, that have materially affected, or are reasonably likely to materially affect, VICI’s internal…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice