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Gaming REITs gain acceptance as a durable rent stream

Truist Securities says gaming REITs have avoided major defaults and continued seeing low single digit growth in gaming revenues despite macro uncertainty.

Reported · Written up by our desk · REITs

Barry Jonas, managing director at Truist Securities, said the gaming REIT sector has moved from being misunderstood to gaining broad buy in from the REIT investment community, according to an interview conducted for Nareit.

Jonas described gaming REITs as a relatively safe and durable source of rental income, citing that many tenants are public and audited and that the sector has not seen major defaults or missed payments.

He also pointed to ongoing demand drivers, saying consumers generally want to go out, have fun, and visit casinos even during a K shaped economic recovery.

Jonas added that, despite macro uncertainty, the sector has still seen low single digit increases in gaming revenues.

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