Presented By: Seeking Alpha Black Friday Sale*

Hey everyone! I thought I was done with Vegas after seeing Social Distortion and Bad Religion in April. But then my daughter's favorite band, Panic at the Disco!, announced they're coming out of retirement for the When We Were Young festival in October 2025... and well, Vegas keeps pulling me back!

You know what's funny? My daughters (15 & 17) were telling their friends about our Vegas trip, and these kids were like, "Vegas must have sucked because all there is to do is gamble." HA! My girls set them straight - between the themed hotels, shopping, sports, food, and attractions, we almost forgot gambling existed! Well... until the last day, I realized, "Oh my gosh! We're about to leave Vegas, and I didn't even gamble!!" So I threw $20 on roulette, won $10, and walked away with a sweet 50% gain!

Speaking of Vegas being more than gambling - did you catch the F1 race zooming past all those iconic casinos yesterday? Or how about the Golden Knights winning the Stanley Cup? The 2024 Super Bowl? The Aces taking back-to-back WNBA championships? It's quickly becoming quite the sports town!

This got me thinking about VICI Properties (VICI) - the company that actually OWNS most of those glittering buildings you keep seeing in the news. According to their latest investor presentation, they're basically the biggest landlord on the Las Vegas Strip. And check this out - they own what can be called the "Sports Triangle Monopoly":

Remember how owning all the green properties gave you a huge advantage in Monopoly? Well, VICI owns MGM Grand, Excalibur, Luxor, and Mandalay Bay - all the major properties surrounding Allegiant Stadium, T-Mobile Arena, and the proposed A's stadium. Talk about location, location, location! Check out the dominant VICI blue properties at the South end of the strip...

But here's what really blows my mind - according to the Las Vegas Convention and Visitors Authority, Vegas welcomed 41 million visitors in 2023. That's like filling Notre Dame Stadium (where I just visited) 528 times! And they set a record with $8.9 billion in gaming revenue.

Many investors think, "Isn't this a sin stock?" Well, sort of? VICI is a landlord, but they don't operate the casinos. They just collect rent. And they've had 100% rent collection since day one. Plus, they're diversifying into other fun stuff like indoor waterparks, golf courses, bowling alleys, and entertainment venues.

But hey, no investment is perfect. Here's a few risks to consider when buying VICI Properties:

🏦They've got $17.1B in debt (interest rates matter!)

🎰Most of their properties are in Vegas (but is that bad?)

💰They depend on their tenants' success (though they've got 13 different operators now)

Want to know something cool about REITs like VICI? They must pay out 90% of their profits as dividends, they skip corporate taxes on that money, and you pay your ordinary income tax rate. That's why I hold my 265 shares (average cost $30.33) in my Self Directed IRA - it's more tax-efficient that way! For several weeks, I've consistently bought at least five shares at a time. With analysts targeting $35.73, I'm happy to keep slowly adding while it's below $34-$35. Slow and steady wins the race, right?

The more I look at Vegas trends and VICI's portfolio, the more I like this for long-term growth. Not to mention that they're expanding away from Vegas and gambling, too. But don't just take my word for it - dig into that investor presentation I linked above. It's a pretty fun read!

What do you think? Hit reply to share your favorite REIT or why you like or dislike VICI!

😁THANK YOU to everyone who responded to the last newsletter!!

Check out the portfolios and podcasts, or see what’s cooking on YouTube.

And now, here is this week's portfolio activity...

Dividends Received This Week ~NONE!🥹

Dividends Received Year to Date~

$6,194.38

Dividends year tom date — Source: Charles Schwab

Stocks Sold (AVERAGE)

NONE

Stocks Bought (AVERAGE)

1 Clear Secure (YOU) | $25.95
5 VICI Properties (VICI) | $32.20
3 Harrow Inc. (HROW) | $38.52

Notable Ex-Dividends This Week + SSD Score

11/26 Johnson & Johnson (JNJ), 3.20% | 99VS
11/27 Home Depot (HD), 2.14% | 87VS
11/27 YUM! Brands (YUM), 1.98% | 50BS
11/27 T-Mobile (TMUS), 1.48% | 80S
11/29 Agree Realty (ADC), 3.97% | 70S
11/29 Coca-Cola (KO), 3.04% | 70S
11/29 eBay (EBAY), 1.71% | 70S
11/29 Tyson Foods (TSN), 3.14% | 80S
11/29 WK Kellogg (WLK), 3.39% | 60BS

🎙️Podcast of the week🎙️

The F.I.R.E. community blindly adheres to the "4 percent rule", and in this episode of Afford Anything, Paula Pant chats with the father of that rule and sets the record straight!

🎦In case you missed it, The SEC changed how my top holding reports their free cash flow!"

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🎶Random music from the Dapper Dividends Jukebox🎶

Mike Ness - Ballad of a Lonely Man