Casino REITs Go in Opposite Directions

VICE and MGM Growth proved last week that even supposedly “safe” REITs have risks. Revenue and funds from operations both were down in the three months ended September 30 for the Caesars’ spinoff REIT, while MGM Growth Properties’ portfolio of 13 MGM resorts, including MGM Grand (l.), beat analysts’ forecasts with $154.8 million in funds from operations on total revenues of $282.2 million.