#REIT

Seeking Alpha

One of the biggest bets on the Las Vegas Strip is not a casino stock

VICI Properties (NYSE: VICI) continues to pique the interest of investors in both the casino and real estate sectors, due in part to its standing as the single largest landowner on the Las Vegas Strip. The company leases out high-profile properties such as Mandalay Bay, Luxor Las Vegas, MGM Grand Las Vegas, Park MGM, Venetian Las Vegas, and…

Land-based ・ 5 days

CoStar

US Hotel Deals: Apple Hospitality REIT Enters Las Vegas Market

This roundup features the latest hotel transactions in the U.S. hotel industry. Rooms: 122 Location: Houston Price, Including Debt: N/A Price Per Room: N/A Buyer: Transwestern Hospitality Group Seller: James A Cummins Jr. Date of Transaction: Dec. 22, 2023 Takeaway: THG is working with hospitality renovation specialist Ring on Hook to reposition…

Travel ・ 23 January 2024

West Island

Dreamscape Companies Unveils Rio Rewards, Amps Up Las Vegas Casino Experience

Dreamscape Companies, the new operational manager of the Rio Hotel & Casino Las Vegas, unveiled their fresh loyalty program, Rio Rewards, to their patrons. This rollout comes following Dreamscape's acquisition of the casino hotel from Caesars Entertainment, rendering the formerly used Caesars Rewards cards obsolete at the Rio. "The introduction of…

Land-based ・ 05 October 2023

wenatcheeworld.com

Two Key Las Vegas Strip Resorts Casinos Could Be Sold

Major deals appear to be coming on the Las Vegas Strip where a casino sale doesn't always mean a change in operators. In the past 12 months, the Las Vegas Strip has seen some massive deals, as MGM Resorts International (MGM) - Get Free Report bought the operating rights to the Cosmopolitan while it sold operating rights to Mirage to Hard Rock…

Land-based ・ 25 April 2023

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Review Journal

Casino landlord Vici Properties’ top boss open to more deals in Las Vegas

Tourists who fill Las Vegas Boulevard's massive resorts to eat, gamble and party, never see the name Vici Properties. But the casino landlord rakes in a fortune from the Strip. New York-based Vici, the biggest property owner in Las Vegas' famed casino corridor, owns Caesars Palace, MGM Grand, Mandalay Bay, The Venetian, The Mirage and other huge…

Land-based ・ 18 April 2023

The Nevada Independent

Indy Gaming: Boyd has no interest in selling downtown, locals casinos to REITs

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Boyd Gaming had a simple message to real…

Industry ・ 09 February 2023

commercialsearch.com

REITs Lead Charge to Consolidate Casino Real Estate

The slowdown in transactions across commercial real estate as a result of higher interest rates is unlikely to dramatically change in the near term as the question of value continues to plague buyers, sellers and lenders. But properties that house gaming operators are proving the exception. Not only did casino tenants pay rent when closed during…

Land-based ・ 01 February 2023

Gambling News

VICI Properties to Fund Century Casinos Caruthersville Expansion

Experiential real estate investment trust (REIT) VICI Properties announced plans to use its Partner Property Growth Fund and finance an expansion project for Century Casinos in Missouri. VICI Properties will provide the funds for a new land-based casino project at Century Casino Caruthersville, in Caruthersville, Missouri, comprising a casino and…

Industry ・ 31 December 2022

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Review Journal

6 biggest casino deals on the Las Vegas Strip in 2022

A number of casino operators changed up their real estate portfolio this year with sales, acquisitions and leasebacks - showcasing a flurry of activity after the short but steep economic fallout caused by the COVID-19 pandemic. And a number of those deals, announced last year, have closed in 2022. Here are six of this year's major deals on the…

Industry ・ 26 December 2022

Vegas Slots Online

Hard Rock Reveals Transformation Plans for Mirage Casino

Hard Rock has revealed its plans to transform the Mirage casino in Las Vegas in the coming years. [Image: Shutterstock.com] Hard Rock International has revealed its plans to transform the Mirage casino resort on the Las Vegas Strip. The casino company presented the plans to the Nevada Gaming Control Board on Wednesday. It is planning to invest…

Land-based ・ 08 December 2022

The Nevada Independent

Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz American Gaming Association CEO Bill…

Industry ・ 07 December 2022

Vegas Slots Online

VICI Adds Two Las Vegas Casino Properties in $5.5bn Deal

In one of the biggest casino deals of 2022, VICI Properties has taken full ownership of MGM Grand Las Vegas and Mandalay Bay in a transaction valued at $5.5bn. [Image: Shutterstock.com] In what the Wall Street Journal has deemed one of the biggest US casino deals of 2022, private equity giant Blackstone is selling its 49.9% stake in MGM Grand Las…

Land-based ・ 02 December 2022

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Poker News Daily

Caesars Entertainment Reverses Plans to Sell a Las Vegas Strip Property

The United States casino industry has gone through changes in the last few years, as companies have bought and sold casinos, shut some down, and renamed others. On Tuesday, we found out that one thing will stay the same in the immediate future: Caesars Entertainment is not going to sell any of its properties on the Las Vegas Strip. In a third…

Land-based ・ 03 November 2022

Yogonet

Penn Entertainment to bring Illinois riverboat casinos ashore; add hotel towers to Ohio's Hollywood Columbus and Nevada's M Resort

Penn Entertainment announced Monday that the company is set to pursue four new projects with an overall $850 million budget, including the relocation of its riverboat casinos in Aurora and Joliet, Illinois, to new land-based facilities. Additionally, the business is set to build a new hotel at Hollywood Columbus in Ohio, and a second hotel tower at…

Travel ・ 02 November 2022

Card Player

Caesars Entertainment Announces Plan For Times Square Casino

SL Green Realty Corp. and Caesars Entertainment on Thursday announced a partnership to redevelop 1515 Broadway as a casino in the heart of Times Square. The casino project would require winning approval from the state of New York. "Caesars Palace Times Square will not only provide billions in tax revenue to New York City and State, it will also…

Land-based ・ 21 October 2022

Sparks Tribune

Century Casinos executive: ‘If you’re a gaming company, wouldn’t you want to be in Nevada?’

Home / News / Century Casinos executive: 'If you're a gaming company, wouldn't you want to be in Nevada?' By Howard Stutz Century Casinos' pending $195 million acquisition of the Nugget Casino Resort in Sparks will rewrite the company's corporate profile. The regional casino operator, which began in Europe, doesn't have what gaming observers…

Travel ・ 20 September 2022

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Vegas Slots Online

US Casino Landlords Dominate 2022 US Property Sector

Casino real estate investment trusts (REITs) have surprised many industry experts with their inflation-hedging abilities. They have now become the only segment of the US property sector to post positive financials in 2022. casino REITs are better protected from inflation" On Friday, Hoya Capital research revealed that "casino REITs are better…

Travel ・ 19 September 2022

The Nevada Independent

Indy Gaming: ‘Economic challenges’ keeping five Clark County casinos closed into 2023

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Five Southern Nevada casinos that never…

Lottery ・ 08 June 2022

The Street

This Stock Might Be the Best Las Vegas Strip Investment

Las Vegas offers the promise of getting rich. In most cases, that's a false promise as the house usually wins, but you can make money on Sin City without throwing any dice, playing cards, or taking a turn at the slot machines. Las Vegas has a surprising number of investment options and the best one might be a company you've never heard of (or maybe…

Land-based ・ 04 June 2022

The Nevada Independent

With Cosmopolitan sale nearing, Blackstone still has money on Vegas

Blackstone Group's time as a Strip casino operator is drawing to a close, but that doesn't mean the New York-based investment conglomerate is done with Las Vegas. Through its Blackstone Real Estate Investment Trust (REIT), the company will continue to own the land and buildings associated with four Strip properties operated by MGM Resorts…

Gaming Authorities ・ 12 May 2022

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The Street

Forget Caesars and MGM. The Las Vegas Strip Has a Secret Leader.

Las Vegas has a lot of big-name operators that grab the spotlight. Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report, for example, has its name splashed across its signature property, the massive Caesars Palace. It's not subtle, which makes sense given that the casino giant wants people to stay at its resorts, gamble in its casinos…

Land-based ・ 10 May 2022

Seeking Alpha

VICI Properties: A High-Quality Casino REIT Stock (NYSE:VICI)

VICI Properties (NYSE: NYSE: VICI) is a leading gaming and hospitality REIT that owns and acquires casinos and hotels around the U.S. They own premier casinos like Caesars Palace, Harrah's, and Venetian and collect rent from the operators based on a triple net lease. Since VICI's formation, it has grown at a rapid pace, and they now hold an…

Land-based ・ 20 March 2022

The Nevada Independent

As gaming revenues soar in Nevada and nationwide, one analyst is cautious for 2022

Nevada's casino industry is on track for 2021 to produce its fourth-ever $12 billion revenue year. Nationwide, gaming revenues have already surpassed 2019's record total. One gaming analyst, however, believes as the year draws to a close, it might be wise to take a deep breath and evaluate where the casino sector is headed in 2022. Deutsche Bank…

Finance ・ 17 December 2021

Vegas Slots Online

GLPI is Acquiring Three Cordish Casinos in $1.81bn Deal

Gaming and Leisure Properties Inc. (GLPI), a real estate investment trust (REIT), has agreed to acquire three casino properties from The Cordish Companies in a deal worth $1.81bn. The Pennsylvania-based Penn National Gaming spin-off announced the deal on Monday. Cordish will pay a starting rent of $125m Following completion of the deal, Cordish…

Travel ・ 07 December 2021

Golden Casino News

MGM Resorts continues to expand, targets new facility in Las Vegas

MGM Resorts International Considering a New Facility on the Las Vegas Strip. MGM Resorts is growing increasingly enthusiastic about the southern end of the Las Vegas Strip's future. This week, one of its top officials indicated that additional improvements in the area might be imminent. MGM Resorts, which operates most of the Strip's casinos,…

Travel ・ 06 December 2021

Larry Brown Sports

A's eyeing Las Vegas strip casino as site for their new stadium?

The Oakland Athletics could be going for the full Sin City experience if they do end up moving to Las Vegas. Contessa Brewer of CNBC reported Wednesday that the Athletics are eyeing the Tropicana on the Vegas strip as a possible site for a new stadium. Brewer adds that the golf course at Wynn Resort and a lot owned by Caesars Palace have also been…

Land-based ・ 02 December 2021

The Nevada Independent

How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas

In the waning days of Caesars Entertainment's two-year bankruptcy reorganization, creditors struggled with a name for a new spin-off company taking ownership of 19 casinos that would control the land and lease the properties back to the operator. Consultants suggested Senatus Populusque Romanus, or SPQR, the term used for the government of ancient…

Travel ・ 23 November 2021

The Nevada Independent

A buyer’s market: Vegas Strip casinos a hot commodity

High-profile Las Vegas Strip resorts aren't put up for sale every day. Last week, however, Caesars Entertainment and MGM Resorts International, the Strip's two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino. In a year that has seen more than $30 billion in announced mergers and acquisition…

Covid ・ 08 November 2021

Poker News Daily

MGM Resorts International to Sell The Mirage in Las Vegas

The landscape of the Las Vegas Strip will continue to change, as MGM Resorts International has said it is looking to sell The Mirage. During the company's quarterly conference call on Wednesday, CEO Bill Hornbuckle said that the company feels it has enough exposure on The Strip. "As such, we are currently in the early stages of a process to sell…

Travel ・ 08 November 2021

The Wall Street Journal

MGM Plans to Sell Mirage Operations in Las Vegas

MGM Resorts International MGM 1.71% said it would sell its operations of The Mirage to another operator, part of a rash of deals that are changing the hands of ownership on the Las Vegas Strip. MGM Resorts, like other casino and hotel operators, has been shedding some of its assets including its real-estate holdings to focus on new business areas…

Travel ・ 04 November 2021

Review Journal

Las Vegas Strip landlord Vici sees revenues rise in Q3

The soon-to-be largest landlord on the Strip believes there's never been a better time to be investing in Las Vegas. That's understandable excitement for a company that has inked real estate deals for Strip properties totaling more than $21 billion this year alone. "We were very excited from the day we started the company. We're even more excited…

Land-based ・ 29 October 2021

The Real Deal

Blackstone to Net $4B Profit in Sale of Vegas Casino

The Blackstone Group can head to the slots after netting a record profit for the sale of a single asset: The Cosmopolitan of Las Vegas. Blackstone has agreed to sell the Las Vegas Strip hotel and casino for more than $5.6 billion, more than three times the $1.8 billion it paid for the property seven years ago. The company stands to make almost $4.1…

Travel ・ 04 October 2021

World Casino News

CityCenter Las Vegas approval for MGM Resorts International

American casino operator MGM Resorts International has reportedly received unanimous consent from the Nevada Gaming Control Board to complete its planned $2.1 billion purchase of a 50% stake in the CityCenter Las Vegas development. According to a Wednesday from the Las Vegas Review-Journal newspaper, the envisioned proposition would see the Las…

Travel ・ 09 September 2021

The Real Deal

Blackstone Shops Cosmopolitan Las Vegas for $5B

Blackstone is once again seeking a high roller to purchase the Cosmopolitan of Las Vegas, this time soliciting offers in excess of $5 billion for the 11 year-old resort casino. One potential suitor exploring an offer is Apollo Global Management, according to Bloomberg. MGM Resorts International is also reportedly looking to swoop in as a potential…

Travel ・ 09 September 2021

Yogonet

Blackstone reportedly seeking to sell Cosmopolitan Las Vegas in $5B deal

lackstone is again offering the Cosmopolitan in Las Vegas for sale, with an asking price of $5 billion or more, according to sources cited by Bloomberg. The investment company initially bought the hotel and casino for $1.73 billion in 2014 from Deutsche Bank, which gained ownership through a crisis-related loan default in 2008. Since then,…

Travel ・ 07 September 2021

AP News

Casino giant MGM Resorts selling land to New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment and MGM Resorts International. Combined, VICI Properties Inc. will end up with properties in 15 states. MGM Resorts…

Travel ・ 04 September 2021

Market Watch

Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment CZR, -2.92% and MGM Resorts International MGM, -0.74% . Combined, VICI Properties Inc. VICI, -0.63% will end up with…

Travel ・ 15 August 2021

The Motley Fool

The Las Vegas Strip Is Changing Before Our Eyes

Las Vegas has gone through a number of transformations over the last half-century, going from mob town to mega-resorts built by junk bonds to an REIT haven. A largely unseen trend in the city over the last half decade has been the sale of a vast majority of the Las Vegas Strip's real estate to investment firms called real estate investment trusts…

Land-based ・ 10 August 2021

The Wall Street Journal

Casino Owner Vici Properties to Buy MGM Growth Properties

Real-estate investment trust Vici Properties Inc. agreed to buy MGM Growth Properties LLC in a deal that values the casino real-estate owner at $17.2 billion, including about $5.7 billion in debt. Under the agreement, casino operator MGM Resorts International will receive about $4.4 billion in cash. MGM Resorts spun off MGM Growth Properties in…

Travel ・ 05 August 2021

The Nevada Independent

Indy Gaming: Las Vegas left behind as Sands charts future in Macau, Singapore and online

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. Las Vegas Sands is on its way to becoming just Sands. The…

NFL ・ 28 July 2021

WTOP

7 Best Gambling Stocks to Buy

Analysts recommend these gambling stocks in 2021. The gambling industry has been one of the hardest hit by the pandemic in 2020, and casinos were especially affected during the economic shutdown. Destinations such as Las Vegas and Macao have had a particularly difficult struggle due to travel restrictions. At the same time, the pandemic accelerated…

Top and Best ・ 27 July 2021

The Nevada Independent

MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner

Nearly a decade ago, MGM Resorts International owned much of the Las Vegas Strip. The company controlled more than 800 acres along the resort corridor, much of which housed 10 Strip resorts, the 67-acre CityCenter complex, a 33-acre concert venue and 23 acres that became The Park dining and retail space and T-Mobile Arena. "It's a good time to be…

Travel ・ 26 July 2021

The Motley Fool

MGM Resorts Is Betting Big on Las Vegas

MGM Resorts (NYSE:MGM) has quietly made a very big bet on the future of the Las Vegas Strip, and it could determine the stock's performance long term. Not only did MGM recently agree to acquire the half of CityCenter that it didn't own for $2.125 billion, but it also agreed to sell CityCenter's real estate for $3.89 billion to funds managed…

Travel ・ 22 July 2021

Review Journal

Chicago casino resort about to enter ‘request for proposals’ stage

It shouldn't be long before Chicago unveils its request for proposals to build a casino resort in the nation's third-largest metropolitan area. It was in early March that Chicago Mayor Lori Lightfoot announced that an RFP is coming for a single resort that is expected to include hotel, dining, entertainment and convention amenities. Several…

Travel ・ 07 July 2021

Barron's

Las Vegas Has Been on a Roll. Here’s How to Play the Next Leg of Its Rally.

Investing in Las Vegas, like the city itself, continues to evolve. Starting last year, investors bid up Las Vegas-related stock prices and valuations, in part in anticipation of a strong economic recovery helped by pent-up demand, and in part because they look favorably on the recent rush of casino operators into the promising early days of digital…

Strategy Guide ・ 04 June 2021

The Real Deal

Bally’s Buys Operations At Las Vegas’ Tropicana Casino

Bally's is making a bet on the Tropicana Hotel & Casino in Las Vegas. Bally's agreed to buy the operations business for the hotel and casino, while the REIT Gaming & Leisure would retain its ownership of the property itself and continue to collect rent, Bloomberg News reported. Bally's has been on an acquisition streak lately, having recently…

Travel ・ 07 May 2021