Edward B. Pitoniak is the Chief Executive Officer of VICI Properties Inc. Previously, he served as Vice Chairman of Realterm, a private equity real estate manager, and he still currently serves as an independent director on the board of directors of Ritchie Brothers Auctioneers — RBA. 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.
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 Corporation, 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 from Amherst College.
In his exclusive interview with the Wall Street Transcript, Edward Pitoniak details his strategy for emerging from bankruptcy with a publicly traded REIT:
“…What we now call VICI Properties today consists of the real estate of what was a Caesars-controlled entity known as Caesars Entertainment Operating Company, or CEOC. It was that entity that voluntarily filed for reorganization under Chapter 11 of the United States Bankruptcy Code in January 15, 2015. As the creditors of that entity and Caesars worked together, it was ultimately determined that the creditors would get their credit satisfied by becoming owners of the real estate of CEOC. At that time, that consisted of 19 assets across the country, with the flagship asset being Caesars Palace Las Vegas, and the rest of the assets being spread across the U.S., all the way from Lake Tahoe in the West to Atlantic City in the East.”
To get the full details on Mr. Pitoniak’s strategy for developing this new REIT, read the entire interview in the Wall Street Transcript.
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