Exploring Real Estate Investment Opportunities in Las Vegas: A Look at VICI Properties, Realty Income Corporation, and Gaming and Leisure Properties

The annual International Council of Shopping Centers (ICSC) conference in Las Vegas was a hub of activity this year, with dealmakers and industry experts coming together to drive innovation in commercial real estate. Among the attendees was a seasoned veteran who has been attending the conference for decades, making key connections and setting up meetings with industry players.

While the conference is known as the “Super Bowl of retail,” it’s not all business for this attendee. Each year, he sets aside $500 to try his luck at the roulette tables, a tradition he’s kept since his first trip to Vegas. Despite the risks involved in gambling, he approaches it with a strategy and a mindset that “scared money never wins.”

But this attendee isn’t just a gambler – he’s also an investor. He owns stock in the landlord of the casinos he visits, turning his annual gambling losses into gains through his investments. One of the companies he invests in, VICI Properties Inc., specializes in experiential real estate, including gaming, hospitality, and entertainment destinations. With a strong presence in Las Vegas and a diverse portfolio of properties, VICI is seen as a solid investment opportunity.

Another company he invests in is Realty Income Corporation, a triple-net lease REIT that focuses on single-tenant commercial properties. Despite some concerns about the company’s expansion into new verticals and international markets, the attendee sees it as a strategic move that will benefit the company in the long run.

Lastly, he also has investments in Gaming and Leisure Properties, Inc., the first REIT in the U.S. to focus on properties leased to gaming operators. With a diverse portfolio of gaming properties and a track record of positive growth, the attendee sees potential in this company as well.

Overall, the attendee’s approach to both gambling and investing is guided by the principle of protecting his principal at all costs. By diversifying his investments and taking calculated risks, he aims to not only enjoy the thrill of Las Vegas but also come out ahead in the long run.