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Edward B. Pitoniak – VICI Properties
Manage episode 435167521 series 3447946
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Ed Pitoniak is Chief Executive Officer and a member of the board of directors of VICI Properties Inc., an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and approximately 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading non-gaming experiential operators, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, and Kalahari Resorts and Conventions. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.
Previously, Mr. Pitoniak served as Vice Chairman of Realterm, a private equity real estate manager. From 2006 to 2019 Mr. Pitoniak served as an independent director at Ritchie Brothers (NYSE: RBA), the world’s largest auctioneers of construction equipment. In April 2014, Mr. Pitoniak became Managing Director of InnVest, a publicly listed REIT, responsible for recapitalizing the REIT and transitioning its management function from an external, third-party management model, to an internal management model. He then served as Chairman from June 2015 to August 2016, when the REIT was sold and taken private. He also served as a director of Regal Lifestyle Communities (TSE: RLC), a Canadian seniors housing real estate owner and operator, from 2012 until its sale in 2015. Mr. Pitoniak retired in 2009 from the position of President and Chief Executive Officer and Director of bcIMC Hospitality Group, a hotel property and brand ownership entity (formerly a public income trust called Canadian Hotel Income Properties Real Estate Investment Trust (“CHIP”)), where he was employed from 2004 to 2009. As Chief Executive Officer of CHIP, he led the company to four consecutive years of total return leadership among Canadian hotel REITs, and then to a sale in 2007. Mr. Pitoniak was also a member of CHIP’s Board of Trustees before it went private. Prior to joining CHIP, Mr. Pitoniak was a Senior Vice-President at Intrawest Corporation, a ski and golf resort operator and developer, for nearly eight years. Before Intrawest, Mr. Pitoniak spent nine years with Times Mirror Magazines, where he served as editor-in-chief and associate publisher with Ski Magazine. Mr. Pitoniak has a Bachelor of Arts degree from Amherst College.
This was a fascinating discussion for us, and Ed shares with our listeners a highlight real of business and real estate anecdotes picked up throughout his illustrious career. We appreciate Ed spending time with us and are very excited to share this with our Good Dirt community. We look forward to following VICI’s continued growth and enjoying their many amazing properties!
For more information on VICI Properties and its growing portfolio of experiential real estate, visit: www.viciproperties.com
As referenced: In Memoriam, Jack Connors
https://www.bostonglobe.com/2024/07/23/opinion/jack-connors-boston-legend-hill-holiday/
https://www.wbur.org/cognoscenti/2024/07/30/jack-connors-dead-at-82-sharon-mcnally
https://www.bc.edu/bc-web/sites/bc-news/articles/2024/summer/in-memoriam-jack-connors.html
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