{"id":215106,"date":"2022-05-26T09:47:32","date_gmt":"2022-05-26T16:47:32","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=215106"},"modified":"2022-05-26T10:18:17","modified_gmt":"2022-05-26T17:18:17","slug":"mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/","title":{"rendered":"Mets Owner Steve Cohen\u2019s Hedge Fund Loads Up on VICI Stock"},"content":{"rendered":"<p>Gaming real estate investment trust (REIT) VICI Properties (NYSE:VICI) has a fan in New York Mets owner Steve Cohen.<\/p>\n<figure id=\"attachment_215107\" aria-describedby=\"caption-attachment-215107\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-215107\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2-142x80.jpg\" alt=\"casino REIT\" width=\"1200\" height=\"675\" \/><figcaption  id=\"caption-attachment-215107\"class=\"text-description\">New York Mets owner Steve Cohen. His hedge fund bought shares of VICI Properties in the first quarter. (Image: <em>Sporting News<\/em>)<\/figcaption><\/figure>\n<p>Cohen\u2019s hedge fund &#8212; Point72 Asset Management &#8212; bought 633,800 shares of the Caesars Palace owner in the first quarter, according to documents filed with the Securities and Exchange Commission (SEC). The move came as some other well-known professional investors <a href=\"https:\/\/www.casino.org\/news\/land-buildings-drops-caesars-vici-stakes-in-q1\/\">liquidated stakes in the real estate<\/a> company.<\/p>\n<div class=\"callout\">\n<p>As the <em>New York Post<\/em> reports, Cohen\u2019s VICI fandom is part of Point72\u2019s broader embrace of defensive stocks with dividend yields in excess of 10-year Treasury yields. The casino landlord checks those boxes.<\/p>\n<\/div>\n<p>Entering Thursday, shares of VICI were down just 1.46% year-to-date, sharply outperforming the S&amp;P 500 and the popular Vanguard Real Estate Index Fund (NYSE:VNQ). With a dividend yield of 4.85%, the casino REIT yields nearly 210 basis points more than 10-year US government bonds.<\/p>\n<h2>VICI Small, But Potentially Mighty<\/h2>\n<p>Point72 previously had and currently maintains <a href=\"https:\/\/www.casino.org\/news\/cohens-point72-family-office-gobbles-up-shares-of-mgm-resorts\/\">other gaming positions<\/a> as part of a sprawling equity portfolio that includes nearly 1,500 investments.<\/p>\n<p>Regarding VICI, the hedge fund\u2019s stake in the casino REIT was valued at $18.03 million at the end of the first quarter, ranking 354<sup>th<\/sup> among Point72\u2019s positions, according to WhaleWisdom data. The money manager owns dozens of other real estate equities. But as of March 31, it doesn\u2019t own shares of Gaming and Leisure Properties (NASDAQ:GLPI) &#8212; the only other publicly traded gaming landlord.<\/p>\n<p>In VICI, Point72 is investing in a company fresh off <a href=\"https:\/\/www.casino.org\/news\/vici-seals-17-2-billion-purchase-of-mgm-growth-properties\/\">the $17.2 billion purchase<\/a> of MGM Growth Properties \u2013 a deal that created the largest casino REIT and the biggest landlord on the Las Vegas Strip.<\/p>\n<p><strong>VICI is now the largest owner of hotel and conference real estate in the US. VICI adds Excalibur, Luxor, Mandalay Bay, MGM Grand, Mirage, New York New York, and Park MGM, as well as various regional casinos operated by MGM Resorts International (NYSE:MGM).<\/strong><\/p>\n<p>In addition to the aforementioned MGM venues, VICI owns some of the Strip\u2019s most venerable properties, including Caesars Palace, <a href=\"https:\/\/www.casino.org\/news\/sands-has-options-for-spending-cash-raised-in-venetian-sale\/\">the Venetian,<\/a> and the Venetian Expo and Convention Center.<\/p>\n<h2>Other Gaming Stocks on Point72 Roster<\/h2>\n<p>Cohen\u2019s hedge fund added 388,146 shares in the first quarter to a previously existing position in Las Vegas Sands (NYSE:LVS). That\u2019s one of dozens of consumer discretionary stocks held by the money manager, but the only one currently in the portfolio directly involved in operating casinos.<\/p>\n<p>It\u2019s merely coincidence, but Cohen has been rumored to be in talks to <a href=\"https:\/\/www.casino.org\/news\/mets-owner-cohen-continues-push-for-citi-field-casino\/\">bring a casino to Citi Field<\/a> &#8212; the Mets\u2019 ballpark &#8212; and speculation is swirling Sands is the company that could operate that venue, assuming it comes to life.<\/p>\n<p>Caesars Entertainment is the official sportsbook partner of the Mets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gaming real estate investment trust (REIT) VICI Properties (NYSE:VICI) has a fan in New York Mets owner Steve Cohen. Cohen\u2019s hedge fund &#8212; Point72 Asset Management &#8212; bought 633,800 shares of the Caesars Palace owner in the first quarter, according to documents filed with the Securities and Exchange Commission (SEC). The move came as some [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":215107,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mets Owner Cohen Hedge Fund Buys Shares Of Casino REIT VICI<\/title>\n<meta name=\"description\" content=\"Casino REIT VICI Properties joins Point72 roster of stock holdings.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mets Owner Cohen Hedge Fund Buys Shares Of Casino REIT VICI\" \/>\n<meta property=\"og:description\" content=\"Casino REIT VICI Properties joins Point72 roster of stock holdings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-26T16:47:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-26T17:18:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/\",\"url\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/\",\"name\":\"Mets Owner Cohen Hedge Fund Buys Shares Of Casino REIT VICI\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg\",\"datePublished\":\"2022-05-26T16:47:32+00:00\",\"dateModified\":\"2022-05-26T17:18:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Casino REIT VICI Properties joins Point72 roster of stock holdings.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"New York Mets owner Steve Cohen. His hedge fund bought shares of VICI Properties in the first quarter. (Image: Sporting News)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Mets Owner Steve Cohen\u2019s Hedge Fund Loads Up on VICI Stock\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mets Owner Cohen Hedge Fund Buys Shares Of Casino REIT VICI","description":"Casino REIT VICI Properties joins Point72 roster of stock holdings.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Mets Owner Cohen Hedge Fund Buys Shares Of Casino REIT VICI","og_description":"Casino REIT VICI Properties joins Point72 roster of stock holdings.","og_url":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-05-26T16:47:32+00:00","article_modified_time":"2022-05-26T17:18:17+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/","url":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/","name":"Mets Owner Cohen Hedge Fund Buys Shares Of Casino REIT VICI","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg","datePublished":"2022-05-26T16:47:32+00:00","dateModified":"2022-05-26T17:18:17+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Casino REIT VICI Properties joins Point72 roster of stock holdings.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/SC2.jpg","width":1920,"height":1080,"caption":"New York Mets owner Steve Cohen. His hedge fund bought shares of VICI Properties in the first quarter. (Image: Sporting News)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/mets-owner-cohen-hedge-fund-buys-shares-of-casino-reit-vici\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Mets Owner Steve Cohen\u2019s Hedge Fund Loads Up on VICI Stock"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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