In just over five years, VICI has risen to national prominence. What happens the rest of the year?” VICI Properties CFO David Kieske responds to a question during a keynote discussion with Las Vegas Convention and Visitors Authority CEO Steve Hill at Preview Las Vegas on Monday, Jan.

“You think about baseball, which is 81 games a season. “One of the troubles with stadiums is the economic productivity of the asset is actually misaligned,” Kieske said. VICI has not been linked to any of the recent discussions surrounding the potential move of the Oakland A’s to Las Vegas. One real estate area the company shies away from is sports stadiums. The company is seeking opportunities with downtown casino resorts and in the neighborhood casino market. In an interview after his 30-minute presentation, Kieske said VICI isn’t done with Las Vegas. “These are critical infrastructure projects.” “We focus on experiential real estate and who are the best experiential operators, gaming operators,” he said of the term for businesses that provide leisure attractions. (It) is 4.2 miles long and it is the most economically productive street in the world,” Kieske said, noting Strip gaming revenue through November is already a record $7.5 billion with $42 billion in total customer spending. “No other road in America can replicate or showcase what (happens) on the Strip. With almost 40,000 hotel rooms and nearly 6 million square feet of convention space, VICI has a larger vested interest in the Strip than any company or individual in the boulevard’s history. Kieske came to the half-day conference to help explain the company’s presence in Las Vegas. VICI also owns two resorts in Lake Tahoe and one in Laughlin. In December, the company contributed $350 million toward a $2.2 billion construction loan package for developers of the Fontainebleau to complete the long-stalled north Strip project.

VICI also owns the Caesars Forum Convention Center behind the Linq.

We're a very efficient business model because we collect the rent and let our operators succeed.” “Our operators run the businesses in the shape or form they do best. “We're a passive real estate landlord completely behind the scenes,” Kieske said during the Preview Las Vegas discussion at the Las Vegas Convention Center.

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