Thursday, March 28, 2019 / by Michael Picciuto
How Wynn Resorts Could Free Up Billions in Cash
There's a lot of value in Wynn Resorts' real estate.
One of the trends sweeping through the gaming industry over the past decade is selling real estate to real estate investment trusts (REITs). Sometimes companies control their REITs, like MGM Resorts (NYSE:MGM) does with MGM Growth Properties (NYSE:MGP) and CaesarsEntertainment (NASDAQ:CZR) does with VIVI Properties (NYSE:VICI), and sometimes real estate is sold to third-party companies.
REITs free up cash for casino companies, often to the tune of billions of dollars. That money can help reduce debt or fund growth projects, which is attractive because it doesn't fundamentally change a resort's operations. But Wynn Resorts (NASDAQ:WYNN) has avoided the temptation to sell most of its real estate over the years. If it did, however, the company could free up billions of dollars in cash.
Wednesday, March 27, 2019 / by Michael Picciuto
Real estate agents say housing market is favoring buyers
Anticipating a surge of supply this spring, buyers are taking their time
Real estate agents say many of their buyers are encouraged by an expected surge of supply this spring, and that a number of them are taking a wait-and-see approach rather than hustling to get a deal done.
This market shift that puts the control in the hands of the buyer was revealed by a recent Credit Suisse survey of 500 real estate agents around the country.
The report noted that buyer traffic in February was up one point from the previous month, but down 11 points from last year.
The results appear to be in line with expectations, Credit Suisse said, with responses indicating moderate activity across the country compared with last year, intensified by atypical rainfall, snow and cold.
Credit Suisse also said its survey revealed an uptick in incentives in markets like Las Vegas, Houston and Denver, and that Charlotte, Jacksonvil ...
Friday, March 22, 2019 / by Michael Picciuto
A Top Housing Market
From urban lifestyle environments in the urban core, to master-planned communities like the award-winning Summerlin and thriving suburban neighborhoods throughout the city, Las Vegas abounds with a diversity of residential opportunities in a variety of styles and price points.
High-Rise Living in Downtown Las Vegas
Today, thanks to a significant reinvestment in downtown Las Vegas, coupled with the draw of a robust urban lifestyle, high-rise living in downtown Las Vegas is alive and well. Downtown high-rises are attracting young professionals, Millennials, retirees and empty-nesters who crave a vibrant, urban lifestyle. Towers that previously experienced stagnation during the economic downturn are once again nearing full occupancy, driving demand for additional residential opportunities within the urban core.
Those who call downtown home frequent more than 150 restaurants and bars within walking distance; one-of-a-kind museums like The Mob an ...