VICI Properties (VICI) is positioned to exploit what I believe is mispricing between real estate asset classes. Casinos and other gaming assets trade at a 200-400 basis point premium to similarly located real estate of more traditional asset classes like apartments, office, industrial, and retail. I do not believe this pricing difference is justified by either the risk or growth profiles of gaming assets relative to other RE. VICI is trading at an opportunistic valuation of 13.5x 2020 estimated FFO (Capital IQ consensus) and has a highly accretive acquisition pipeline. We see a