#Realty Income

Bisnow

Las Vegas Hospitality Workers Authorize Strike As Investor Interest In Casinos Grows

Las Vegas hotel and casino workers are in negotiations for a new five-year contract. Las Vegas hospitality workers voted this week to authorize a strike in pursuit of a new five-year contract. The workers are members of the Culinary Workers Union Local 226 and Bartenders Union Local 165, who are employed in nongaming positions at casinos on the Las…

Travel ・ 01 October 2023

Card Player

Realty Income Invests $950M In Bellagio Las Vegas

One of the Las Vegas Strip's most iconic casinos has a new investor. Realty Income Corporation, The Monthly Dividend Company, and Blackstone Real Estate Income Trust jointly announced Aug. 25 that Realty Income has signed a definitive agreement to invest approximately $950 million to acquire common and preferred equity interests from BREIT in a new…

Industry ・ 29 August 2023

CoStar

Blackstone To Sell 22% Stake in Bellagio Las Vegas for $950 Million

In the formation of a new joint venture, Blackstone Real Estate Income Trust will sell a stake in the Bellagio Las Vegas resort and casino for $950 million to Realty Income Corp. Realty Income, a real estate investment trust, will acquire common and preferred equity interest from BREIT in a joint venture that owns 95% interest in the Bellagio,…

Industry ・ 29 August 2023

commercialsearch.com

REITs Lead Charge to Consolidate Casino Real Estate

The slowdown in transactions across commercial real estate as a result of higher interest rates is unlikely to dramatically change in the near term as the question of value continues to plague buyers, sellers and lenders. But properties that house gaming operators are proving the exception. Not only did casino tenants pay rent when closed during…

Land-based ・ 01 February 2023

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News-Daily

Las Vegas Strip Leader Sells Key Casino

Regional gaming got a shakeup this week, with a big Las Vegas player selling a key property on the East Coast. Liquidity is the name of the game in the current economic environment, and Wynn Resorts (WYNN) - Get Free Report is being proactive with its properties. The Las Vegas-based casino operator announced the completion of a planned sale of land…

Land-based ・ 12 December 2022

The Nevada Independent

Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz American Gaming Association CEO Bill…

Industry ・ 07 December 2022

Yogonet

Encore Boston's record-breaking revenue drives Massachusetts casinos' $102M mark in March

As reported by the Massachusetts Gaming Commission, the state's three gambling centers had a good month during March according to the financial results for the period. Plainridge Park Casino, MGM Springfield and Encore Boston Harbor cumulatively generated more than $102 million in gaming revenue, about $28.6 million of which will be due to the…

Finance ・ 20 April 2022

New Jersey Online Gambling

Casino Roundup: Crown Buyout, Wynn Leaseback and Sands Junk Rating

Crown Resorts accepted a $8.9 billion buyout bid from Blackstone, a private equity firm. Just days after the news, the Australian casino company r eported a $141 billion loss for the last six months of 2021. In other casino news, a credit agency cut Las Vegas Sands' debt rating, while Wynn Resorts negotiated its first real estate sale. It's a tough…

Gaming Authorities ・ 21 February 2022

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Review Journal

Wynn selling real estate in Boston, not Las Vegas

After unveiling a lucrative deal to sell its Boston-area casino and rent it back, Wynn Resorts' boss put the kibosh on doing the same in Las Vegas. Wynn CEO Craig Billings said during an earnings call this week that Las Vegas is "very different" from regional casino markets, and the "need for continuous and sizable reinvestment in order to stay…

Land-based ・ 19 February 2022

The Boston Globe

Wynn Resorts cashes in on Everett casino in $1.7 billion deal

Wynn Resorts is selling off its Encore Boston Harbor casino property in Everett, though patrons shouldn't notice any difference at all. On Tuesday, Wynn announced a $1.7 billion sale to Realty Income, a large real estate investment trust, and aims to use the proceeds, in part, to help fund development plans across Broadway from the casino. But no,…

Travel ・ 18 February 2022

Top US Casinos

Massachusetts Casino Revenue and Handle Decline in January

The three commercial casinos in Massachusetts started 2022 with a revenue and handle decline. The facilities in the Bay State combined for $681851372 in total handle for January, a 5.1% drop from the. The January total marked the first time since February 2021 that the handle from slot machines and table games combined dropped below $700 million,…

Finance ・ 16 February 2022