11 Best Las Vegas Stocks To Buy Now

8. VICI Properties Inc. (NYSE:VICI)

Number of Hedge Fund Holders: 33

VICI Properties Inc. (NYSE:VICI) is a real estate investment trust (REIT) company that owns rental real estate across the United States. The $35 billion market cap company owns over 127 million square feet and features around 60,300 hotel rooms, with more than 500 restaurants, nightclubs, bars, and sportsbooks.

The stock was held by 33 hedge funds in Q2 2024, with total stakes worth $935.95 million. Citadel Investment Group is the top shareholder, with a position worth $299.2 million.

VICI Properties Inc. (NYSE:VICI) makes it to the list of 11 best Las Vegas stocks to buy now because of its unique revenue stream. The company generates most of its revenue from 54 gaming properties that are currently home to some of the major casinos. The company is unique in the sense that while it does not directly own the casinos, however, it continues to benefit from the gambling industry by leasing its properties to casino operators such as MGM Resorts and Caesars.

When it comes to reliability of business and revenue generation VICI Properties Inc. (NYSE:VICI) does not disappoint in that regard as well. Its revenue of $957 million improved 6.5% year-over-year, whereas the net income was up 7.3% during the same time. At the end of the quarter, the balance sheet showed $347.2 million in cash and cash equivalents.

There are several reasons why you should consider investing in VICI Properties Inc. (NYSE:VICI). The first and foremost reason is its strong association with the overall gambling industry, which is currently strong and growing. According to the American Gaming Association reports the gambling revenue for the country during the first quarter of 2024 was at a record-breaking high of $17.67 billion, up 26.1% year-over-year.

Moreover, the company also pays dividends from the income it generates by leasing properties. VICI year-to-date returns were at over 3% and in the past year it has returned over 7%. Lastly, VICI Properties Inc. (NYSE:VICI) enjoys a special position as it does not solely rely on the gambling industry and also owns 39 experiential non-gambling properties plus four golf courses. Though they only represent a chunk of its total revenue but still give the company multiple revenue streams.