VICI Properties

Think of it as the buildings and land under your Walmart building.

Home Depot, and Aldi, and Vici Properties, ticker V-I-C-I, which owns some of the most famous casinos on the Las Vegas Strip, like Caesars Palace and New York, New York.

So I ran the numbers since my first buy of each with Dividends Reinvested versus VOO, which is the S&P 500, or as people call it, the market, and check it out, $10,000 in Agree Realty from $5,000 February 2024, which was my first purchase, is now about $12,940, which is up almost 30%.

But the same $10,000 into VU is about $16,100, which is up 61% over double.

So let's start with ex- experiential real estate, and it's evolved, obviously, over the last decade, as really everything has.

And it has certainly evolved since VICI went public in twenty seventeen.

You've led the company over its near decade-long journey as an NYSE-listed enterprise and have obviously seen its transformation from the head of the table.

But for the greater industry, let's start there, not necessarily on VICI.

How have you watched the experiential real estate category grow, transform, evolve through everything going on around us in the world?

Yeah.

But we saw it with the World Cup this summer.

It is all part and parcel of the desire to gather and share an experience.

We'll go in descending order.

Start with Vici Properties, V-I-C-I, a real estate investment trust with a nearly 8% bountiful yield.

This is a company that originally owned the real estate under a bunch of casinos, but over the years it started expanding into wellness resorts, bowling alleys, water parks.

It, it became a messier story.

Doesn't help that the core casino business looks pretty dicey right now.

With gas prices skyrocketing this year, it feels like a bad time to go to Vegas.

Meanwhile, Vici Properties has seen its growth slow to a crawl.

We're talking low single digits.

I think that's one of the things that you have to do, is, you know, look at the risk of a stock and, you know, size it accordingly.

If you think the casino stocks look bad, allow me to introduce you to VICI Properties.

What is that? There's a ticker?

Holy shit.