Strip properties to see billions in investment in the next couple of years

27 December 2012 Bonusgangster 0 Comments

For the past couple of years, there has been modest upgrades and reinvestment in the Strip properties. According to some of the top analysts from the gambling industry, there are high chances that things will change in the coming year.

These analysts and brokers believe that over USD 1.5-billion is going to be invested by investors and multiple firms in the gaming real estate market of Las Vegas over the coming couple of years.

Colliers International Gaming Group, recently created by Colliers International following the creation of its gaming division, came up with these findings. Their team of veteran analysts and brokers from Las Vegas studied the current situation and came up with the exciting possibilities. The firm, which was already a leader in commercial real estate market for offices, industries and retail sectors, feels that there may be a lot more good news in the coming period.

Mike Mixer, who is the head of Collier’s gaming group, said that this division is going to provide the valuation of assets. It will also provide advices on strategic services as well as sales services amongst many others. The group also consists of couple of experts, who previously worked for CB Richard Ellis Global Gaming Group, Josh Smith and Gabe Telles.

Mixer is quite bullied on the prospects in Las Vegas in the coming years, especially with the renovations in Strip properties. According to him, his calculated USD 1.5-billion is figure based on projects, which are either under plan for the coming years or under construction at this moment.

Josh Smith said, “Investors have been sitting idle for a couple of years. Now, they will be making some strong moves.”