VICI Properties Reaching New Geographic Markets Through Diverse Tenant Base

Ed Pitoniak, CEO of VICI Properties, Inc. (NYSE: VICI), participated in a video interview at Nareit’s REITworld: 2019 Annual Conference in Los Angeles.

Pitoniak said that VICI’s upcoming acquisition of three Harrah’s properties across the country will have an immediate impact on the REIT’s rental volume.

“Those three assets are being added to our portfolio [though] as part of a larger deal we did with Eldorado—as part of their merger with Caesar’s,” Pitoniak added.

Pitoniak also talked about the importance of portfolio management.

“By diversifying our tenant base, we are achieving penetration of new geographic markets [and] we’re getting exposure to the networks that these operators have across the country,” he said.

Pitoniak said that one of the major trends in American gaming right now is the proliferation of sports betting, and that as it takes root, visitation to gaming assets is significantly increasing.

“That’s obviously very good for our operators. And if it’s very good for our operators, it’s very good for us,” he said.