Quote of the Day

“Capital remains cheap, real estate on the Strip is scarce, construction costs are high, making development prohibitive, the Las Vegas business outlook for 2020 remains strong, private equity firms are loaded up with plenty of dry powder, and REITs (real estate investment trusts) are hungry for growth … a formula for continued consolidation and ultimately valuation appreciation.”—Union Gaming analyst Joseph DeCree on the seller’s market in Las Vegas Strip real estate.

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