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Analyst
Daniel Guglielmo
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q3 (7 quarters; questions recorded in 6).
- Questions
- 9on tracked calls
- Challenge rate
- 0%none of 9 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 9 of 9 questions from 2 companies
VICIVici Properties8 questions · 5 reporting periods · 0 of 8 challenging
Calendar 2026 Q2
have international properties, maybe outside of the U.S. and Canada, become more interesting to you all?
Show response
Furey confirmed five years of groundwork on non-US structuring and noted St. Croix is still a US territory, so it is not a true international precedent.
can you just talk through some of the information that you all use outside of public earnings and SEC filings
Show response
Kieske cited state-level monthly reporting and private operators' public debt; Gallagher and Wasserman added lease-mandated reporting and quarterly loan-by-loan reviews.
Calendar 2026 Q1
You all have a lot of leases linked to U.S. CPI in one way or another
Show response
CEO provided specific measurement periods: Caesars uses Jul-Sep for Nov 1 reset; Venetian resets at March using January. CFO added guidance assumes only base escalator rates, not CPI upside.
One of the full commercial casinos opened in New York City recently. Are there any competitive pressures
Show response
COO noted Resorts World with table games opened just 2 days ago; too early to assess customer draw radius. Tenants already secret shopping and tracking, will adjust plans accordingly as data emerges.
Calendar 2025 Q3
what kind of macro or Las Vegas demand environment do properties typically come to market there?
Show response
COO confirmed willingness to expand on Strip, locals market, and all over Nevada; timing hard to predict but VICI will be prepared.
Calendar 2025 Q2
we've heard about decline visitation to Las Vegas from Canada. When you talk about -- talk with those Canadian operators, are they seeing benefit
Show response
COO confirmed pleased with Canadian asset performance with uptick, suggesting Canadians staying home and visiting local assets rather than traveling to US.
Calendar 2025 Q1
can you just talk about the team's approach to risk, and if there's a formal risk process in place to flag and work through any issues
Show response
CAO described quarterly management meetings, one for tenant/lease performance and a separate one for borrower/loan performance, providing strong oversight and monitoring.
Can you give us a sense if you're hearing the same things from the non-public partners on the strip?
Show response
COO confirmed excitement about Las Vegas performance across public and non-public partners, highlighting the Sphere bringing new consumer sets to the Venetian and city.
CASYCasey's General Stores, Inc.1 question · 1 reporting period · 0 of 1 challenging
Calendar 2026 Q3
are there certain states or areas of the country where you are seeing a stronger consumer or weaker ones?
Show response
Darren said nothing stood out by state; the one example was Illinois-Indiana border fuel arbitrage from Indiana's suspended gas tax, with Illinois weakness offset by Indiana strength, roughly a wash.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| VICI Vici Properties | 8 | 0%none of 8 questions |
| CASY Casey's General Stores, Inc. | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | No questions recorded | — | — |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
| 2026 Q2 | 2 | 0%none of 2 questions | 1 |
| 2026 Q3 | 1 | 0%none of 1 question | 1 |
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q4No questions recorded
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand7
- Credit2
- Competitive Dynamics2
- Macroeconomic1
- Geographic Expansion1
- Pricing1
- Capital Allocation1
- M&A1