EPR Properties CEO Discusses Its Big Casino Investment

EPR’s CEO, David Brain, discusses the new world-class resort as well as the company’s latest earnings results.

May 20, 2014 at 9:21AM

EPR Properties (NYSE:EPR) went public in November 1997 and today the Kansas City-based REIT has a market cap of around $4.6 billion.

With gross assets of around $3.3 billion, EPR is the largest owner of entertainment-related real estate, with a large concentration in the theater industry, comprising 67% of its total portfolio (based on investment value), as well as charter school properties, ski hills and entertainment retail centers.

EPR is a specialty REIT that invests in properties in select categories which require unique industry knowledge, while offering the potential for stable and attractive returns. As of the latest quarter, EPR owns 193 properties in 38 States, DC, and Canada. The 14.6 million square foot portfolio generates approximately $331 million in annualized NOI.

EPR does not compete directly with most Triple Net REITs and as a result, the company has been able to source new investments with less competition. Accordingly, signature theaters represent a majority of EPR's revenues and the REIT's focused income strategy provides investors with considerable growth opportunities. As a landlord for AMC EntertainmentCinemark Holdings, and Rave Cinemas, EPR has targeted its core income strategy around leasing facilities to specialized sector specific chains.

Recently EPR has announced that it was teaming up with Empire Resorts, (NASDAQ:NYNY), the company to apply for a license to own and operate a destination gaming resort that will include a four-star hotel. The Sullivan County, NY project known as Adelaar (the Dutch word for eagle) will feature a broad variety of leisure and recreational programming.

At ReCon this week in Las Vegas I caught up with EPR's CEO, David Brain, to discuss the new world-class resort as well as the company's latest earnings results. 

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A Financial Plan on an Index Card

Keeping it simple.

Aug 7, 2015 at 11:26AM

Two years ago, University of Chicago professor Harold Pollack wrote his entire financial plan on an index card.

It blew up. People loved the idea. Financial advice is often intentionally complicated. Obscurity lets advisors charge higher fees. But the most important parts are painfully simple. Here's how Pollack put it:

The card came out of chat I had regarding what I view as the financial industry's basic dilemma: The best investment advice fits on an index card. A commenter asked for the actual index card. Although I was originally speaking in metaphor, I grabbed a pen and one of my daughter's note cards, scribbled this out in maybe three minutes, snapped a picture with my iPhone, and the rest was history.

More advisors and investors caught onto the idea and started writing their own financial plans on a single index card.

I love the exercise, because it makes you think about what's important and forces you to be succinct.

So, here's my index-card financial plan:


Everything else is details. 

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