VICI Properties Inc.

An article in the Las Vegas Review-Journal discusses how Millennial and Gen-Z preferences for experiences have influenced the shifting dynamics of Las Vegas casino operations, with these generations representing nearly half of the city’s visitors last year. Per the Las Vegas Convention and Visitors Authority - LVCVA, Millennial and Gen-Z cohorts spend proportionately more on shows and entertainment than their Gen-X counterparts, which is reflected in the increasingly diversified entertainment offerings found around the Las Vegas Strip. Additionally, the article highlights recent research by the American Gaming Association regarding increasingly favorable attitudes towards gambling as a social activity, with an all-time high of 122 million people visiting a casino for gambling or other entertainment within the last year. The adaptability of Las Vegas and the dynamism of gaming operators has allowed for the continuing evolution of the Las Vegas experience. The city caters to what its customers want, and operators can pull levers quickly and adapt to meet relevant consumer demand. With 10 Las Vegas properties in our portfolio, VICI is enthusiastic about the future of the city. https://lnkd.in/eXYKjcFZ

We are excited to partner with VICI Properties Inc. to announce the launch of the Summer 2025 Experiential Real Estate Investments Bridge Program. VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations. The Bridge Program will provide students with the opportunity to explore deal sourcing, underwriting and asset management for experiential real estate with VICI Properties professionals. Through this live, multi-week program, students will attend interactive speaker sessions with firm leaders, join sector specific technical training, and a site visit, providing participants with exposure to early career opportunities at the company. Click here to apply: https://lnkd.in/g3sd_TkB Special thanks to VICI Properties Inc., David Kieske, Hayes Honea, Brandon Klee, and Matthew Perkins for their partnership in building this program. #ProjectDestined #VICIProperties #EarlyCareerOpportunities #FutureLeaders #CRE #PDCommunity

On May 6th, Great Wolf Lodge Mashantucket hosted its grand opening, marking the brand’s 23rd “lodge launch.” We are thrilled that the vision driving our $287.9 million investment has been realized, and Great Wolf Lodge Mashantucket is now open for families in the region. The new Connecticut location adjacent to the Foxwoods Resort Casino comprises of a 92,000 square feet indoor water park with 13 water slides and 549 family-friendly suites. Mindy Kaling joined the grand opening festivities and helped raise $52,000 for Make-A-Wish Connecticut. 

Last week, VICI announced a commitment of up to $510.0 million of a $725.0 million delayed draw term loan facility for the development of the North Fork Mono Casino & Resort located in Madera, California, which will be developed and managed by affiliates of Red Rock Resorts Inc. Upon completion, North Fork is expected to feature approximately 2,400 slot machines, 40 table games, two restaurants, three bars, a food hall and a small retail offering. This transaction marks VICI's first investment with Red Rock Resorts, a premier gaming, development, and management company with extensive experience in regional gaming and entertainment, including Native American gaming development and management. North Fork represents VICI’s second investment on tribal land and Red Rock Resorts’ first transaction with a REIT.    For more information about this transaction, see our Q1 2025 earnings press release here: https://lnkd.in/e4PkGi2e

“Lake Tahoe is a stunning destination, and we’re elated to bring a new world-class resort worthy of its allure to the lakefront. The property transformation has begun and will continue throughout 2026 with the all-new hotel tower, part of the casino floor, hotel lobby, stellar restaurants and new gaming options coming online this summer for our guests to enjoy right away. Our second phase will begin in the fall, with the entire project completing next summer. With its bold new look and modern energy, Caesars Republic Lake Tahoe will set the stage for a new era of luxury in the region, and we know our guests will be blown away by this tremendous transformation.” - Anthony Carano, President and Chief Operating Officer of Caesars Entertainment. We are proud to announce our plans to transform Harveys Lake Tahoe into Caesars Republic Lake Tahoe Hotel & Casino this summer. The $160 million renovation will include state-of-the-art upgrades, luxurious accommodations and elevated dining and gaming options while immersing guests in a new, contemporary resort designed to embrace the look and feel of Lake Tahoe. The property will remain open during the transition, with July 1 marking the resort’s official change to Caesars Republic. Discover all the exciting details with the SF Gate exclusive: https://bit.ly/4jZbzEc

MGM Resorts International is the largest private employer in the State of Nevada, so when our employees rally around a cause, it has a big impact on our local community. With that in mind, we partnered with Southern Nevada Water Authority to increase the rebate MGM Resorts employees receive when they remove water-thirsty grass from their private property. On this #EarthDay, I'm proud to share that since the enhanced Water Smart Landscapes Rebate launched last year, our employees have removed enough grass to save a projected 4.2 million gallons of water each year. That's on top of all the water the company has saved by replacing grass with desert-friendly landscaping at our properties. Las Vegas relies on Lake Mead for its water supply, and every little bit we save is a step toward a more sustainable future for our city, its residents, and the millions of tourists who visit.

WrestleMania broke records in Las Vegas, bringing in thousands of visitors who filled hotel rooms during a typically lower-demand holiday weekend. I was especially pleased to see two sold-out wrestling events at our own T-Mobile Arena on Friday and Monday. That was on top of two full houses for the Vegas Golden Knights’ playoff games on Sunday and Tuesday. Over the past several years, the city has built a solid sports and entertainment calendar and has proven to organizations like WWE that Las Vegas is a destination that generates global interest and fills seats with both local and out-of-town fans. The last few days have been no exception, and I’m proud to say that MGM Resorts International played a pivotal role.

Edward Pitoniak, CEO of VICI Properties, sat down with the Commercial Observer to discuss his career trajectory and role in crafting and telling VICI’s story. The article highlights VICI’s recent investments, including the recently announced $300 million mezzanine loan related to the development of One Beverly Hills, and the potential of its strategic relationship with Cain International and Eldridge Industries for future experiential investment opportunities. Jonathan Goldstein, CEO of Cain International, is quoted in the article saying, “[Ed] approaches business in a way very few other people do, which is with intelligence and focus on what he needs to achieve for his company, but with a level of empathy for the other party to ensure that both parties’ goals can be met.” For more information about VICI’s strategic relationship with Cain International and Eldridge Industries, see our press release here: https://lnkd.in/eXWpZhBM

VICI Properties Announces Closing of Public Offering of $1.3 Billion of Senior Unsecured Notes: https://lnkd.in/eQ27JxMs

We are thrilled to partner with Project Destined again on our great REIT Bridge Program. But don't take our word about this impactful program--watch below to hear program graduates talk about the knowledge they gained, the opportunities they had to increase their networks, and more. Know a student who wants to know more about or pursue a career in #CRE and REITs? Tag them or share this post. Special thanks to Cedric Bobo and the Project Destined team for all their work on this program.