US Casino Landlords Dominate 2022 US Property Sector
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Casino real estate investment trusts (REITs) have surprised many industry experts with their inflation-hedging abilities. They have become the only segment of the US property sector to post positive financials in 2022.
Hoya Capital research shows that casino REITs are better protected from inflation than many initially presumed. VICI Properties and Gaming and Leisure Properties have grown by 11% and 0.06% this year. The FTSE Nareit Equity REits Index has dropped by around 20% for the year-to-date.
VICI is the fastest-growing REIT to be included in the S&P 500. It owns 100 of the US' approximately 250-300 investment grade commercial casinos. The casino REit sector is not immune from the risks of a prolonged recession.
US Casino Landlords Dominate 2022 US Property Sector. GLPI and VICI have splashed out on around $50bn worth of assets combined. VicI bought all of LVS’ remaining Vegas properties for $6.25bn this February.
