January 4, 2013
Strip forecast sees $1.5 billion invested over next two years
After two years of modest reinvestment and upgrades of Strip properties, a group of gaming industry analysts and brokers thinks more than $1.5 billion will be invested by companies and investors in the Las Vegas gaming real estate market over the next two years.
Colliers International issued the upbeat forecast to introduce its new gaming division.
Already a well-known player in the office, industrial and retail sectors of the commercial real estate business, the firm brought in veteran Las Vegas-based analysts and brokers to create the Colliers International Gaming Group.
Mike Mixer, head of the gaming group, said the new division will provide asset valuations, advice on strategic acquisition and sales, and tax services. The gaming group includes Gabe Telles and Josh Smith, who both recently worked at CB Richard Ellis.