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VICI CEO Ed Pitoniak speaks about the expectations for Las Vegas strip, the interesting category of wellness for experience spending, and good real estate deals. The hosts discuss retail earnings, Walmart's success and Target's struggle. China's economic woes and its impact on global markets are explored. Investment activities in Las Vegas and the challenges in determining good deals are discussed. Finally, the involvement of activist investor Starboard Value in the restaurant sector and stocks to watch, Aztec Industries and Nice, are highlighted.
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Quick takeaways
- Consumer focus on lower-cost items benefits Walmart and hurts Target.
- Nice's strong second quarter results were negatively received, anticipating a slowdown in the second half of the year.
Deep dives
Starboard Value Takes Stake in Bloomin' Brands
Activist investor Starboard Value has announced a 9.9% stake in Bloomin' Brands, the owner of Outback Steakhouse. Starboard Value has a history of restaurant brand turnarounds, and its involvement with Bloomin' Brands could lead to cost-cutting measures and increased efficiencies.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode