Real estate investment trusts have been used in many industries, including the hospitality industry, but gaming remained untouched until Peter Carlino spun off Gaming & Leisure Properties, Inc. (GLPI) from Penn National Gaming in 2013. When the transaction immediately produced value for both Penn and GLPI shareholders, the race was on and both Caesars and MGM created their own REITs. Carlin and Matthew Demchyk, the senior vice president and chief investment officer for GLPI, explain why REITs make a lot of sense in the gaming business and why the potential for gaming REITs is still growing. They joined GGB Publisher Roger Gros and editor Frank Legato in early February from the GLPI offices in Reading, Pennsylvania.
Chairman and CEO; and Sr. VP and Chief Investment Officer, Gaming & Leisure Properties, Inc.