MGM growth, VICI properties have fundamentals to withstand pandemic pressure. According to the group’s review by Moody’s Investors Service, domestic gaming real estate investment trusts (REITs) have the liquidity and balance sheets to weather storms levied on tenants by the coronavirus pandemic.
The three publicly traded casino landlords are Gaming & Leisure Properties (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP), and VICI Properties (NYSE:VICI). Those companies combine to own the real estate of about 20 percent of US commercial gaming venues.
“Gaming & Leisure Properties’, VICI Properties’ and MGM Growth Properties’ combined gross assets grew more than 60%, to over $41 billion, in the second quarter of 2020, up from about $25 billion at their inception a few years ago,” said Moody’s analyst Thuy Nguyen. “We expect their solid financial positions to help them withstand pandemic-related business disruptions, though the gaming industry today remains in uncharted territory.”
[image: Marcos Nieto]