{"id":232483,"date":"2022-09-17T17:59:09","date_gmt":"2022-09-17T22:59:09","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=232483"},"modified":"2022-09-19T13:56:59","modified_gmt":"2022-09-19T18:56:59","slug":"casino-reits-are-leading-performers-in-real-estate-sector","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/","title":{"rendered":"Casino REITs a Standout in Real Estate Sector"},"content":{"rendered":"<p>Due in large part to rising interest rates, the real estate sector is sagging. But casino real estate investment trusts (REITs) are shining bright amid a challenging macroeconomic environment.<\/p>\n<figure id=\"attachment_232484\" aria-describedby=\"caption-attachment-232484\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-232484\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/strip-142x80.png\" alt=\"casino REIT\" width=\"1200\" height=\"675\" \/><figcaption  id=\"caption-attachment-232484\"class=\"text-description\">The Las Vegas Strip, seen above, where VICI Properties is the biggest landlord. A research firm is bullish on casino REITs. (Image: <em>KTNV<\/em>)<\/figcaption><\/figure>\n<p>The widely followed FTSE Nareit Equity REITs Index is down 20.31% year-to-date. But Gaming and Leisure Properties (NASDAQ:GLPI) and VICI Properties &#8212; the two publicly traded gaming REITs &#8212; are higher by 0.06% and 11%, respectively. Casino landlords are the only segment of the broader real estate sector generating positive returns this year.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>Casino REITs are the lone property sector in positive territory this year, benefiting from an upward valuation &#8216;re-rating&#8217; and hard-earned mainstream institutional acceptance after many years of strong operational execution,\u201d<\/strong> according to Hoya Capital research.<\/p><\/blockquote>\n<p>VICI and GLPI approach casino real estate fashion in divergent fashion. The former is <a href=\"https:\/\/www.casino.org\/news\/vici-properties-is-raising-its-dividend-by-more-than-8\/\">the largest landlord on the Las Vegas Strip<\/a>, among other holdings, while the latter prefers to own regional casino property assets.<\/p>\n<h2>Casino REITs Superior Inflation Protection<\/h2>\n<p>Inflation, of which the US economy has plenty, is often a catalyst for real estate stocks. This year, Gaming and Leisure and VICI <a href=\"https:\/\/www.casino.org\/news\/casino-reits-compelling-as-inflation-soars-says-hoya-capital\/\">are living up to that billing.<\/a><\/p>\n<blockquote class=\"main-blockquote\"><p><strong>Casino REITs have become a favorite for investors seeking inflation-hedged assets. VICI boasts inflation-linked escalators on 96% of its leases, while GLPI benefits from indirect inflation hedges linked to tenant performance,\u201d <\/strong>noted Hoya Capital<strong>.<\/strong><\/p><\/blockquote>\n<p>GLPI and VICI are what\u2019s known as triple-net REITs, meaning the lease terms they sign with clients are usually far longer than what\u2019s seen in other commercial real estate segments.<\/p>\n<p>Market participants tend to treat triple-net REITs on par with longer-dated bonds, meaning these stocks can be vulnerable to rising interest rates. This year, however, investors are focusing more on the inflation-fighting advantages GLPI and VICI offer.<\/p>\n<p>\u201cDespite their ultra-long term triple net lease structures, casino REITs are better protected from inflation than many initially presumed,\u201d added Hoya. \u201cInflation sensitivity is driven by several interacting factors, including external growth potential, lease structure and term, tenant credit quality, and the cyclicality of the underlying property type.\u201d<\/p>\n<h2>Casino REITs Love Good Deals<\/h2>\n<p>The current iterations of GLPI and VICI are the result of deal-making. Lots of it. VICI has a knack for acquiring gaming assets with both large <a href=\"https:\/\/www.casino.org\/news\/golden-entertainment-selling-rocky-gap-casino-for-260-million\/\">and small price tags<\/a>, and is agnostic in terms of geography. \u00a0For its part, GLPI largely eschews the volatility of Las Vegas Strip real estate, owning only the Tropicana there. But the REIT has a knack for smart buys.<\/p>\n<p><strong>Since 2016, GLPI, VICI, and MGM Growth Properties, acquired by VICI, purchased approximately $50 billion worth of assets. There\u2019s room for that figure to grow in the years ahead as casino operators look to monetize property assets and generate cash for other uses.<\/strong><\/p>\n<p>\u201cCasino REITs now own 100 of the roughly 250-300 \u2018investment grade\u2019 commercial casinos in the United States, one of the highest concentrations of REIT ownership within any property sector,\u201d concluded Hoya.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Due in large part to rising interest rates, the real estate sector is sagging. But casino real estate investment trusts (REITs) are shining bright amid a challenging macroeconomic environment. The widely followed FTSE Nareit Equity REITs Index is down 20.31% year-to-date. But Gaming and Leisure Properties (NASDAQ:GLPI) and VICI Properties &#8212; the two publicly traded [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":232484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[81903,81898],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Casino REITs Are Leading Performers In Real Estate Sector<\/title>\n<meta name=\"description\" content=\"Casino REITs are stars in slumping real estate sector this year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Casino REITs Are Leading Performers In Real Estate Sector\" \/>\n<meta property=\"og:description\" content=\"Casino REITs are stars in slumping real estate sector this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-17T22:59:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-19T18:56:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/strip.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/\",\"url\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/\",\"name\":\"Casino REITs Are Leading Performers In Real Estate Sector\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/strip.png\",\"datePublished\":\"2022-09-17T22:59:09+00:00\",\"dateModified\":\"2022-09-19T18:56:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Casino REITs are stars in slumping real estate sector this year.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/strip.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/strip.png\",\"width\":1280,\"height\":720,\"caption\":\"The Las Vegas Strip where VICI Properties is the biggest landlord. A research firm is bullish on casino REITs. (Image: KTNV)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Casino REITs a Standout in Real Estate Sector\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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A research firm is bullish on casino REITs. (Image: KTNV)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/casino-reits-are-leading-performers-in-real-estate-sector\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Casino REITs a Standout in Real Estate Sector"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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