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Over the years, MGM has bought up hotel-casinos on the Strip, and now they own most of ‘em. If you’re staying on the Strip, odds are it’s an MGM hotel.

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If it's not MGM it's Caesar's. And both MGM and Caesar's are owned by VICI Properties.

The companies themselves are not owned by VICI, the land and properties are, and Caesars and MGM (and other casino operators) pay VICI rent.

The margins are amazing:

https://www.macrotrends.net/stocks/charts/VICI/vici-properti...

Wonder if VICI assets are protected from having underfunded pensions of casino employee unions.

https://en.wikipedia.org/wiki/Vici_Properties#Properties

Insane. Who is competing with them on the Las Vegas Strip? Just Blackstone with Bellagio, Cosmo, and Aria? Those investors have the power to have practically all properties on the strip not compete with each other.

MGM operates all 3 of those

Wynn is still independent (I think). That's the only one I can think of, though.

Or Caesar's.

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