{"id":276965,"date":"2023-06-11T14:43:20","date_gmt":"2023-06-11T19:43:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=276965"},"modified":"2023-06-12T13:08:52","modified_gmt":"2023-06-12T18:08:52","slug":"vici-properties-has-makings-of-recession-sturdiness","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/","title":{"rendered":"VICI Properties Has Recession Resilience"},"content":{"rendered":"

Some economic forecasters are dialing back recession expectations. But should that ominous scenario arrive, VICI Properties (NYSE: VICI) could be one of the gaming stocks to sport relative resilience.<\/p>\n

\"VICI
Excalibur on the Las Vegas Strip. Owner VICI Properties could prove durable in a recession. (Image: YouTube)<\/figcaption><\/figure>\n

The largest owner of gaming real estate in the country feels strongly regarding how its clients, which includes casino operator titans Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International<\/a> (NYSE: MGM), would fare in the event of material economic contraction.<\/p>\n

\n

At the Nareit REITweek Conference in New York last week, VICI management said the \u201ceconomic resiliency of gaming is resounding.\u201d The real estate investment trust (REIT) is the largest landlord on the Las Vegas Strip, owning the property assets of some of the world\u2019s most famous casino hotels, including Caesars Palace, MGM Grand, and the Venetian, among others.<\/p>\n<\/div>\n

VICI owns 10 Strip venues and 13 overall in Nevada, where its tenants include<\/a> Apollo Global Management, Caesars, Hard Rock International, and MGM.<\/p>\n

VICI Believes Tenants Learned Lessons<\/h2>\n

Owing to the cyclical nature of casino gaming, the industry would likely be vulnerable should a recession arrive. Specific to VICI, there\u2019s some good news.<\/p>\n

First, analysts see no signs of a recession<\/a> playing out on the Las Vegas Strip. Second, the REIT believes its clients learned lessons during prior economic shocks, including the global financial crisis and the coronavirus pandemic.<\/p>\n

\n

At the Nareit conference, VICI management said casino operators are well in-tune with their customers, which allows them to be nimble and pivot strategies during times when consumers reign in spending. As noted at the conference, some of the landlord\u2019s optimism is rooted in the documented ability of the gaming industry to weather and rebound from economic downturns. Another benefit for VICI is that capital markets are open to high-quality REITs.<\/p>\n<\/div>\n

\u201cThose (REITs) that have access to capital, they\u2019re going to get through this, they\u2019re going to capitalize on it\u2026REITs are going to come out winners,\u201d said Mark Streeter, managing director at JP Morgan Chase & Co., at the conference.<\/p>\n

VICI Has Deflation Insulation<\/h2>\n

Dating back to last year, a primary theme analysts and investors have focused on regarding gaming equities is the potentially adverse impact<\/a> of inflation. Due to REITs\u2019 reputation as inflation-fighting assets, VICI has held up relatively well over the past year, gaining 2.67%.<\/p>\n

That doesn\u2019t imply the REIT will be vulnerable if a deflationary environment arrives. For starters, inflation remains stubbornly high, indicating deflation is likely a ways off.<\/p>\n

Second, VICI has a track record of performing well when deflation sets in. That’s highlighted by the stock\u2019s impressive showing immediately following the worst stages of the COVID-19 pandemic. Finally, the bulk of VICI\u2019s lease contracts with casino operators include escalator clauses that modestly raise rent annually or every few years.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Some economic forecasters are dialing back recession expectations. But should that ominous scenario arrive, VICI Properties (NYSE: VICI) could be one of the gaming stocks to sport relative resilience. The largest owner of gaming real estate in the country feels strongly regarding how its clients, which includes casino operator titans Caesars Entertainment (NASDAQ: CZR) and […]<\/p>\n","protected":false},"author":46,"featured_media":215950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,81886],"tags":[81897,81903,23],"acf":[],"yoast_head":"\nVICI Properties Has Makings Of Recession Sturdiness<\/title>\n<meta name=\"description\" content=\"VICI Properties could be beacon of strength in recession.\" \/>\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\/vici-properties-has-makings-of-recession-sturdiness\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VICI Properties Has Makings Of Recession Sturdiness\" \/>\n<meta property=\"og:description\" content=\"VICI Properties could be beacon of strength in recession.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/\" \/>\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=\"2023-06-11T19:43:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-12T18:08:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg\" \/>\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\/jpeg\" \/>\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\/vici-properties-has-makings-of-recession-sturdiness\/\",\"url\":\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/\",\"name\":\"VICI Properties Has Makings Of Recession Sturdiness\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg\",\"datePublished\":\"2023-06-11T19:43:20+00:00\",\"dateModified\":\"2023-06-12T18:08:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"VICI Properties could be beacon of strength in recession.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg\",\"width\":1280,\"height\":720,\"caption\":\"MGM's Excalibur on the Las Vegas Strip. The operator was included in the Goldman Sachs buyback basket. (Image: YouTube)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#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\":\"VICI Properties Has Recession Resilience\"}]},{\"@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. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"VICI Properties Has Makings Of Recession Sturdiness","description":"VICI Properties could be beacon of strength in recession.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/","og_locale":"en_US","og_type":"article","og_title":"VICI Properties Has Makings Of Recession Sturdiness","og_description":"VICI Properties could be beacon of strength in recession.","og_url":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-06-11T19:43:20+00:00","article_modified_time":"2023-06-12T18:08:52+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/","url":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/","name":"VICI Properties Has Makings Of Recession Sturdiness","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg","datePublished":"2023-06-11T19:43:20+00:00","dateModified":"2023-06-12T18:08:52+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"VICI Properties could be beacon of strength in recession.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/exc.jpg","width":1280,"height":720,"caption":"MGM's Excalibur on the Las Vegas Strip. The operator was included in the Goldman Sachs buyback basket. (Image: YouTube)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/vici-properties-has-makings-of-recession-sturdiness\/#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":"VICI Properties Has Recession Resilience"}]},{"@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. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/276965"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=276965"}],"version-history":[{"count":2,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/276965\/revisions"}],"predecessor-version":[{"id":276968,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/276965\/revisions\/276968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/215950"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=276965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=276965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=276965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}