Episode 18 of Good Dirt Podcast is live! Ed Pitoniak, CEO of VICI Properties Inc. (NYSE: VICI) was quite simply, an awesome guest- and we loved hearing Ed’s story of how he and his team have built VICI into an S&P 500® experiential REIT that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities in the world. As founding CEO, Ed has steered VICI to become an absolute powerhouse- VICI is the fastest REIT in history to go from IPO to inclusion in the S&P 500.
A quick by the numbers so our listeners can understand VICI’s 93 experiential assets, leased under long-term, triple-net arrangements:
-127 million SF!
-54 gaming properties (think Caesers Palace, MGM Grand, the Venetian, Mandalay Bay, Harrah’s, etc)
-39 ‘other’ experiential properties (think Cabot, Canyon Ranch, Chelsea Piers, Bowlero, Great Wolf Resorts, etc)
-60,300 hotel rooms
-500 restaurants, bars, nightclubs and sportsbooks
VICI Properties also owns four championship golf courses and 33 acres of undeveloped/underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.
We really enjoyed this conversation, which was a highlight reel of real estate and business anecdotes from Ed, who interestingly was the Editor-in-Chief of Ski Magazine before joining Intrawest to aggregate a portfolio of leading ski resorts- all of which is covered in the discussion.
Please enjoy, share, and reach out to us with feedback!
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cc: Thomas Greeley | Edward Pitoniak | Newmark | Newmark Capital Markets
Thanks to Jason Chudoba of ICR for the intro to Ed!