Own The Casino With VICI Properties

Dividends Forever
3 min readFeb 24, 2024

70 years ago, you needed to be a ruthless mob boss if you wanted to own a casino in Las Vegas.

Today, you need Robinhood and $30.

That’s all it takes to become a part-owner in some of Sin City’s most iconic hotels, golf courses, and resorts.

In this article, we’ll look at VICI Properties ($VICI). This is a high-yield real estate investment trust focused on gaming and experiential properties throughout the United States and Canada.

VICI owns some of the most desirable properties in Las Vegas; multiple championship golf courses; and over 500 bars, restaurants, and nightclubs.

What Does VICI Properties Do?

The Venetian Resort — One Of VICI’s Many Properties

VICI Properties is a real estate investment trust (REIT), that owns the properties and physical buildings where many casinos and entertainment venues are located.

In other words, VICI Properties is the casino’s landlord.

Some of the properties VICI owns include: Caesars Palace, MGM Grand, and the Venetian Resort.

The company also owns several popular golf courses and golf resorts. Their Cascata property, for example, was ranked as one of “Golf Magazine’s Top 100 Courses You Can Play.”

VICI also owns non-gaming properties like Chelsea Piers.

And, they even own the land the Las Vegas Sphere is built on.

Unlike many REITs that focus on renting office buildings or convenience stores, VICI owns a portfolio of luxury properties and trophy assets.

VICI Properties Fundamental Analysis

Many stocks are hitting new all-time highs.

But VICI Properties is actually down -5.74% this year.

The stock is also trading at an extremely low valuation, with a price to funds from operation of 11.60.

REITs are valued a little differently than stocks, so this isn’t an exact comparison, but VICI’s valuation is less than half of the S&P 500's.

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