2Año
So the post is so interesting that I immediately fired up my PC for the answer instead of answering with my cell phone. Strong post. I have a question regarding your mentioned pay-out ratio. Which one does this refer to? Aren't Reits required to pay out 90% of their profits to remain tax free. Note 2. Las Vegas location Since I love to go to Las Vegas myself, I find the Reit interesting in principle. Especially the MGM Properties , Venetian & Mirage, are also relatively new and in good shape ( Especially The Signature and MGM Park). But since you are the owners, yes you bear the cost of new construction and maintenance correct? Since this is not maintenance after all. Especially with the "old" properties, like MGM Grand or Harrahs, are now worn out and I wouldn't be surprised if new casinos are to be built here soon. (Whereby Harrahs in Old Vegas will be preserved for sure) Is there already info here regarding costs etc. Negative aspects to Las Vegas. A big problem is the water and electricity supply. This will inevitably lead to higher costs, but in the 1st step this is not relevant for Vici. In the 2nd step, however, it also makes the location less attractive, which could lead to declining revenues. In addition, other locations are now emerging that can keep up with Las Vegas and in some cases surpass it. Positive aspects of Las Vegas: In order to keep the city interesting in the future, a lot is being invested in American sports. So there are now in football the Las Vegas Raiders and in ice hockey the Vegas Raiders. In addition, there are boxing matches, which also attract people. In Old Vegas, too, a lot is being invested in the meantime and is gradually developing into a party mile. I can't say much about Atlantic City, except that it's very sad in the meantime. I can't say much about the rest of the real estate/casinos. As you've already noted, gambling is very much in demand, especially in economic crises. Since I have stayed away from Reits so far, I am reading up on it now. But if everything is right and I have looked at the numbers, I def. get in. Thank you very much for the qualitative strong and interesting contribution. "You miss 100% of the Shots you dont take-Wayne Gretzky" - Michael Scott
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@DS0711 thanks for the praise 🙏 So if I understood the triple net lease correctly, the maintenance costs are also borne by the landlord. A quick google search revealed that at the end of leases there are often disputes regarding the condition of the property because necessary work was not done by the landlord.The payout ratio refers to the FFO. The minimum 90% refers to the taxable profit, so in my opinion the EPS.
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•2Año
@MScottInvesting Thanks, saved me research work.
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