Truist Securities gaming analyst Barry Jonas noted that interest rates are low and capital markets have been accommodating toward gaming industry transactions, both in Las Vegas and regionally. It’s hard to justify the cost of building a new resort with few good plots left, so it’s about trading assets with various market entrants.” I think we are just at the peak of one of those cycles. “There has always been an ebb and flow to the Strip. “Assets are not always available,” Bussmann said. In a year that has seen more than $30 billion in announced mergers and acquisition activity along the Strip corridor in just 10 months, Global Market Advisors Partner Brendan Bussmann suggested the Strip’s latest acquisition activity will draw the interest of numerous potential buyers.
Last week, however, Caesars Entertainment and MGM Resorts International, the Strip’s two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino. High-profile Las Vegas Strip resorts aren’t put up for sale every day.
