Category Archive : Market Updates

LAS VEGAS – Despite last-minute objections by two board members, the Las Vegas Convention and Visitors Authority (LVCVA) voted on Wednesday last week to award the Boring Company – owned by technology entrepreneur, investor, engineer, and Tesla, Inc. co-founder Elon Musk – the contract to create and construct an underground transit system for the Las Vegas Convention Center.

The relatively inexperienced Boring Company (not yet having completed any significant project) won the contract with a $48.7 million bid for the mile-long “people mover” project, coming in both below their competitors’ bids as well as offering an accelerated construction schedule that beat out other companies vying for the job. Boring’s plans also presented less disruptions to events and activities currently taking place at the Convention Center, another attractive prospect to LVCVA board members.

The underground tunnel would focus on pedestrian transportation to and from the Convention Center, with Boring’s plan involving autonomous electric vehicles operating in a continuous loop that would ferry approximately 4,400 passengers every hour, reports say. Currently, the travel time by foot via the same route above-ground is an average of 15 minutes; the people mover would shorten that to just one minute, by Boring’s estimate.

While the favored company for several weeks now, Boring ran into a potential roadblock recently as two LVCVA board members objected to Musk’s company being awarded the contract, fearing the start-up would be unable to live up to their lofty promises. Instead, the two board members – Las Vegas Mayor Carolyn Goodman and Michelle Fiore – favored the bid from the more experienced Dopplemayr Garaventa, who they allowed a last-minute presentation involving an elevated rail system to the LVCVA board last week in order to potentially sway their votes. However, their efforts were unsuccessful; the board majority nonetheless voted to officially award the people mover contract to Boring.

If Musk’s company proves itself and successfully completes the new Las Vegas Convention Center transportation system – both on-time and on-budget – additional Vegas-based projects may be awarded to the company in the future, including a commercial tunnel.

To date, the Boring Company has made just one successful tunnel; a test project based in California, solely to be used for tunnel construction research purposes. Boring has proposed several projects in cities such as New York, Los Angeles, and Chicago, none of which have come to light.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – The Boring Company – an infrastructure and tunnel construction company owned by technology entrepreneur, investor, engineer, and co-founder of Tesla, Inc. Elon Musk – is facing some stiff competition for the contract to design and build a “people mover” system that would service the Las Vegas convention center, according to reports.

A people mover is a type of small scale automated guide-way transit system, and in the case of the one envisioned for the convention center, it would only serve for local transport; while many people movers transport passengers from airports, downtown districts or theme parks to other destinations, the convention center’s dual-tunnel people mover would be more limited in scope, solely dedicated to servicing event attendees only.

Doppelmayr Garaventa Group, an Austrian company, had initially lost out to The Boring Company’s negotiated $48.7 million design-build bid on work for the people mover. However, some members of the Las Vegas Convention and Visitors Authority (LVCVA) board – which is due to vote on the approval of Boring’s contract – are having second thoughts, and are encouraging their members to give Doppelmayr’s proposal additional consideration, which is said to take a very different approach to the project than Musk’s company.

As opposed to Boring’s under-ground tunnel-based design, Doppelmayr has proposed an above-ground transport system with an estimated cost of $215 million; however, reports say that the work is now potentially able to be done for about $85 million instead. Despite the proposal costing more than Boring’s, some LVCVA board members are finding themselves partial to Doppelmayr’s extensive track record – the company has been in existence for over 125 years – as opposed to Boring, a relative newcomer that has only been doing business for three years, and the Las Vegas people-mover would represent its first major project.

However, Boring ’s estimate for the overall length of the project was not only considerably cheaper than their competitors, but mush faster as well, with President Steve Davis claiming the project could be completed within the span of one year.

LVCVA officials are hoping to have a transport system constructed while the convention center renovation is undergoing a $1.4 billion renovation, and to have the system completed in time for the January 2021 Consumer Electronics Show, according to officials. Doppelmayr has been invited to hold an additional presentation of their plans this week, but no final decision has been made on who will be awarded the people-mover contract.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Famed comedian Jerry Lewis had resided in Las Vegas for over 30 years before his death in August of 2017 at the age of 91. Recently, local real estate investor Jane Popple announced that his home would be going up for a public auction planned from May 25th through 27th.

Popple had previously purchased the home for $1.2 million from Jerry Lewis’s Widow, Sam, in 2018. Lewis’s daughter, Danielle, had grown up in the residence, and she and her mother had held an auction of much of the late comedian’s personal belongings and movie memorabilia earlier this year. The auction included over 400 items which netted $1,071,766.00 in proceeds.

Located near Interstate 15 and Charleston Boulevard in the affluent Scotch 80s neighborhood, the 7,325 square foot house comes in at two stories and boasts five grand bathrooms. There is a casita – a small house unconnected to the main house used for guests or as a changing room – as well as an office, a large in-ground pool, and an expansive backyard that the property’s listing says is ideal for entertaining guests. In fact, over the years the residence has been host to a variety of parties and get-togethers featuring many well-known celebrities and Las Vegas dignitaries of whom were entertained in the extensive bar located in the house’s family room. The list price is $1.8M.

An enthusiast of the color red, Lewis would often wear a red shirt or sweater while performing; his former Las Vegas home also reflected this color aesthetic, with many of the carpets, appliances, and pieces of furniture crimson in color, giving the accommodations a bright, warm, and inviting sensibility.

The Scotch 80s neighborhood itself is considered well-to-do, with the median price of a single-family home coming in at over $734,000.00. The neighborhood has seen a variety of celebrities and well-known businessman calling it home since the 1950s, including Howard Hughes, Steve Wynn, singer Phyllis McGuire, Carolyn Goodman, and more.

Jerry Lewis entertained millions of fans after appearing in dozens of comedy films and television shows over decades, often with his friend and partner Dean Martin, himself another famous Las Vegas entertainer and comedian. Lewis was also well known for hosting an annual Labor Day Telethon that raised money for the Muscular Dystrophy Association, benefiting children who were affectionately known as “Jerry’s Kids.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Pebb Enterprises, a Florida-based real estate firm, has been on a bit of a buying tear in Las Vegas as of late, seemingly investing a serious amount of capital in the city’s retail infrastructure; a bold move, according to experts, considering the at-times shaky nature of the real estate scene in Southern Nevada – and the country as a whole.

Last month Pebb purchased Rainbow Promenade, a retail plaza located at the corner of Rainbow Boulevard and Smoke Ranch Road. The plaza, coming in at 220,279 square-feet, sits on a 22-acre plot of land and recently underwent $5,000,000 in renovation work. The shopping center is almost completely occupied, and features high-profile tenants such as Barnes and Noble and Hobby Lobby. Only 2 percent of retail space remains for rent, according to reports, and business overall is said to be brisk in the shopping center.

This represents a significant turnaround for Rainbow Promenade fortunes; in 2013, the plaza was in foreclosure, but according to recent reports, it has regained its financial composure and currently boasts strong and consistent sales.

This acquisition follows Pebb’s purchase of Cheyenne Commons in March, a retail center situated on a 35 acre plot of land located one mile up the road. While reportedly a solid purchase, Cheyenne Commons does not currently feature nearly-full occupation like Rainbow Promenade does.

Some experts question Pabb’s increased investment in retail during a period where brick-and-mortar stores are being forced to endure increased competition from online retailers such as Amazon and eBay, entities that typically are able to sell goods at far cheaper prices while enjoying reduced overhead costs. With the recent announcement of Amazon offering free one-day shipping in the near-future to Prime members, retail in general appears to be facing an uphill battle in our country going forward.

As a result of the increased competition from online retailers, physical stores have increasingly faced financial hardship, with many closing their doors almost as quickly as they first opened. For example, a recent report revealed that it is estimated that approximately one-half of all shopping malls currently open today may be closed within the next 10 years, which is a sobering reality of today’s retail climate.

Pebb representatives noted in a statement that the retail establishments in Rainbow Promenade frequently feature strong sales numbers, and that the majority of the tenants in the plaza have recently-renewed lease agreements. The strip mall itself is in a highly visible location, close to populated residential areas and busy roadways. These factors, along with others, may prove to be saving graces for the retail scene in Vegas, and prove that Pebb’s investment, at least for now, is a solid one.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Work on the Las Vegas Stadium – the near-future home of the famed Oakland Raiders National Football League (NFL) team – has entered what the reports are referring to as the “most difficult” and “most dangerous” phase of its ongoing construction efforts. Since breaking ground on the new $2 billion, 65,000-seat stadium on Nov. 13, building crews are set to begin elevating 22 canopy trusses – each weighing 65 tons apiece – in order to affix them to the rim of the stadium at its highest points, many of which are as high as 120 feet off the ground.

These efforts require complex and exceedingly precise work between multiple departments involved in the construction of the stadium, such as the engineers, supervisors, iron workers, and more, all while taking into consideration the weather on any given day as rain or even minor shifts in wind velocity can have a major effect when working with the canopy trusses at such heights. Reports note that work can only take place at times when winds are lower than a sustained 17 miles per hour, for example. Regardless, lifting and affixing the canopy trusses will be relatively unique each and every time it is done, with work crews having to take into consideration any number of random variables that may not have been anticipated during the initial planning stages.

In addition, the canopy trusses must be put in place with extreme precision in order to incorporate them into the enormous translucent roof of the stadium, which will enable natural light to permeate the interior in order to give attendees the feeling of being outdoors. The roof is currently slated to be constructed on the floor of the stadium, and once the canopy trusses are in place, the roof will be lifted and affixed to them. Placement of the canopy trusses is slated to be completed by July 31.

Work on the stadium is currently going according to schedule, reports say, with anticipation of the Raiders playing the opening game of their 2020 season there. Anticipation of a major NFL team now calling Las Vegas home has helped to spark the local Las Vegas economy, driving businesses and tourism to the region and greatly increasing the city’s fortunes since its come back from the mid-2000s recession.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – The soaring real estate market in Las Vegas has been the very epitome of a comeback success story, given the near-decade of stagnation it was previously forced to endure in the mid-2000s when the recession hit our country.

But that success was the equivalent of a double-edged sword. While the real estate market – and subsequently, it’s prices – continue to soar month after month, those growing prices can eventually run in direct contrast with the fact that the region is touted as being one of the more affordable places to live in the country, especially when compared to neighboring states such as California. As a result, recently, sales have begun to slow and inventory has begun to gradually stockpile. The median price of a single-family home on the market has cracked $300,000 for the first time in years; this represents an affordability problem that real estate brokers are now starting to address. Subsequently, the upcoming spring sale season looks to be one that will be exceedingly kind to buyers once again.

According to reports, mortgage rates have been falling and sellers are cutting prices, which experts believe will result in an upswing in purchases in the coming months. With businesses flocking to Las Vegas amid its current economic boom, a record number of new families have been transplanting themselves to the area in order to take advantage. With a great many people arriving within a relatively short amount of time, sellers originally did their best to take advantage by driving prices up; prices which most people were willing to pay, but only to a point. It seems that point has been reached, and in order to ensure continued growth, brokers are realizing that they need to scale their ambitions back in order to help Las Vegas retain its reputation for affordability and quality of life.

Up until this point, Las Vegas had led the nation in real estate price growth on a month-to-month and year-to-year basis, according to reports. But the writing is on the wall- according to a recent report, 2621 single family homes were purchased in the region in March 2019, representing a 33.3 percent increase from February 2019, but a decrease of 16.8 percent from the same period in 2018.

However, changes are in the works. For example, the average rate of a 30-year mortgage in March 2019 was 4.27 percent, which represents a decrease of .60 percent from November 2018, according to reports. In addition, real estate brokers have learned to be more flexible in their negotiations, which are allowing them to close more deals. It’s obvious that when selling a property it’s always good to maximize your profits; it’s just a matter of finding the correct balance between profitability and affordability, an issue that Las Vegas is being forced to address at this point. However, all signs are pointing towards a positive outcome for sellers and buyers alike at this point.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Boxabl, an innovative new company that develops what they refer to as a “universal building box” – a fully customizable building system they claim allows for “true mass production” of buildings – is looking for the perfect location to set up their first facility, and they currently have their eyes set squarely on Las Vegas as their main candidate.

Boxabl notes that the company developed boxes can be mass produced in a factory; these boxes are essentially pre-made rectangular rooms that can be shipped flat – only 8.5 feet wide – to a building construction site, “unfolded,” and then incorporated into the structure, allowing for higher quality buildings at lower prices. The universal Boxabl box is a 20’x40’x9.5′ room that can be stacked, combined, modified, sub divided and finished to create almost any style of building at a fraction of the cost of a regular build, according to Boxabl.

If these boxes work according to plan, experts say, they could reduce average construction times by months and building costs by thousands, which would result in lower-cost homes and buildings by as much as 30 percent or more. The boxes – made from laminated expanded foam and cement board – would only be sold directly to construction companies and developers – not individuals, according to reports, as the average individual would not possess the know-how or support to properly utilize the system. The box construction and materials, Boxabl notes, make the rooms fire-resistant, impact-resistant, and weather-resistant.

Boxabl was founded in 2017, and was heavily noticed at the International Builders’ Show in Las Vegas after they showed off a box prototype. Currently, the company is in the process of raising $30 million to establish their first factory, which they want to set up in North Las Vegas, an epicenter of business and industrial development in recent years. If successful, the Boxabl factory would be located on a plot of land at least 40 to 50 acres in size, with their innovative boxes eventually becoming one of the largest and most-well-known products produced in Southern Nevada.

Time will tell, however, if Boxabl’s boxes gain the traction the company hopes for; if they do, the construction industry could be revolutionized.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Famous Las Vegas landmark “A Little White Wedding Chapel” has been the site of many quick celebrity weddings, and according to reports it’s now going up for sale by owner Charlotte Richards, who has owned and run the establishment since it first opened its doors 68 years ago.

A Little White Wedding Chapel – which employs ten ministers and whose current asking price is $12 million – boasts of having joined over 1,000,000 couples in lawful matrimony; however, no statistics are available on how many of those couples have remained together. The Chapel is especially well-known for its “Drive-Thru Tunnel of Vows” wedding chapel, where eager couples can be married while on-the-go.

A Little White Wedding Chapel is located on South Las Vegas Boulevard, prime real estate with currently skyrocketing land values. The property is represented by Steve Khalilzadegan of Savi Realty, who noted in a press release that the 15,802 square-foot facility has over 222 feet of Las Vegas Boulevard frontage on a total of one full acre of property. The $12 million price tag for such a location, Khalilzadegan insists, is a steal for such an iconic Las Vegsa landmark.

A Little White Wedding Chapel is located on South Las Vegas Boulevard, prime real estate with currently skyrocketing land values. The property is represented by Steve Khalilzadegan of Savi Realty, who noted in a press release that the 15,802 square-foot facility has over 222 feet of Las Vegas Boulevard frontage on a total of one full acre of property. The $12 million price tag for such a location, Khalilzadegan insists, is a steal for such an iconic Las Vegsa landmark.

Richards came into the wedding business after her first husband abandoned her in Las Vegas, and Merle Edwards – who worked in the wedding chapel business – rescued her from the street and soon after became her second husband until his passing in 1982. Richards originally purchased the Chapel – at the time only consisting of a single room – in 1951, and soon expanded the facilities to include gown and tuxedo rentals, a florist, performing Elvis impersonators, and, of course, the infamous Drive-Thru Tunnel of Vows mentioned above.

During her time with A Little White Wedding Chapel, Richards has presided over the marriages of celebrities such as Frank Sinatra, Judy Garland, Rita Hayworth, Mickey Rooney, Michael Jordan, Britney Spears, James Caan, Patty Duke, Mary Tyler Moore, Paul Newman, Bruce Willis and Demi Moore. The Chapel has been featured on such TV shows as WWE Raw, Supernatural, Friends, Good Morning America, and The Real World: Las Vegas.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Blackstone Group Considering Sale of Las Vegas Cosmopolitan Hotel and Casino; Could Fetch $4 Billion, Analysts Say

LAS VEGAS – The Blackstone Group L.P. – an American multinational private equity, alternative asset management and financial services firm based in New York City – is considering putting one of their high-profile Las Vegas, Nevada assets on the open market for a potentially huge payday, according to reports.

Blackstone has hired investment banks Deutsche Bank AG and PJT Partners Inc. to investigate the possibility of selling the Cosmopolitan of Las Vegas, a 3,000-room luxury resort casino and hotel located on the famed Las Vegas Strip. According to reports, a Vegas-based casino-resort has the potential to sell under the right conditions for as much as 13 times the amount of revenue that it takes in; in the case of the Cosmopolitan, this could amount to a sale price as high as $4 billion, analysts say.

The Cosmopolitan would represent the first resort of its type on the Las Vegas Strip to be put up for sale in over 10 years, if Blackstone decides to follow through with it. Reports indicate that Wynn Resorts Ltd. and MGM Resorts International may have eyes on the property if it does indeed become available, although this has not been confirmed as of now. Local media have reached out to both groups but have yet to receive responses from either one on the matter.

The Cosmopolitan opened on December 15, 2010, and is located just south of the Bellagio on the west side of Las Vegas Boulevard. It consists of two high-rise towers – the Boulevard Tower and the Chelsea Tower – both of which are 184 meters (603 ft) tall. The $3.9 billion project features 3,027 rooms, a 110,000 square foot casino, 300,000 square feet of retail and restaurant space, a spa and fitness facility, a 3,200-seat theater, and meeting and convention space.

The Cosmopolitan was purchased for $1.73 billion by Blackstone in 2014 and invested an additional $500 million into the property in order to build large luxury suites intended to house high-profile gambling guests, as well as renovating existing rooms and adding new bars and restaurants to the resort. The Cosmopolitan currently is one of the priciest hotels on the Las Vegas Strip, with an average stay running over $300 a day.

Blackstone – which owns numerous properties, in Vegas and worldwide – was founded in 1985 as a mergers and acquisitions boutique by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers; since then, Blackstone has become the world’s largest private equity investment firm. As of 2019, the company’s total assets under management were approximately $470 billion dollars. In April 2019, Blackstone disclosed it was converting to a corporation from a publicly traded partnership.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Brett Raymer, the former co-star of Animal Planet reality television show “Tanked,” has his Las Vegas home up for sale for the cool asking price of $3.2 million, according to recent reports.

Tanked, which has aired on Animal Planet for 15 seasons since it first premiered in August of 2011, follows the operations of the Las Vegas-based aquarium manufacturer Acrylic Tank Manufacturing, owned by Raymer and his brother-in-law Wayde King. Raymer also owns Donut Mania, a doughnut shop franchise with several locations in the Las Vegas Valley.

Raymer’s home, a Tuscan-style villa located in Northwest Las Vegas Valley that he originally bought for $1.15 million in 2014, is over 12,000 square feet and occupies a plot of land that is a half-acre large. The three-story residence has seven bedrooms, six full baths and one-half bath, and features clear views of the Las Vegas Strip. In addition, the home also boasts numerous amenities that were added by way of an extensive series of renovations after Raymer moved in, such as ornate landscaping, a resort-style pool, movie theater, wine /cheese cellar, and an aquarium with a design inspired by the famed lost city of Atlantis.

According to Animal Planet’s website, Raymer’s company is responsible for numerous awe-inspiring projects in the Southern Nevada region for a variety of prominent celebrity and business clients:

“Acrylic Tank Manufacturing is one of the country’s most successful builders of aquariums and two of Sin City’s most imaginative businessmen, Wayde King and Brett Raymer, are tasked with building some of the most enormous and awe-inspiring tanks and aquariums for top celebrities, luxury hotels and casinos, Fortune 500 businesses, private homes and millionaire homeowners across the country. ATM takes on more than 200 projects every year with tanks ranging from 50 to one million gallons in size.”

On March 17, 2019, Animal Planet announced that the series would conclude with its 15th season.

For more photos and details, check out the full listing.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – Despite recent reports to the contrary, construction on the upcoming Las Vegas NFL Raiders Stadium – while facing a series of hurdles in recent days – will nonetheless be opening on time for the team’s first pre-season game, slated to take place on August 6, 2020.

According to reports, the Raiders’ construction manager, Jones Lang LaSalle, recently and erroneously told the team’s board that the July 31, 2020 completion date for the stadium has been bumped back to August 4; right afterwards, most major media outlets reported the incorrect news, spreading headlines declaring that the finish of the project had been delayed.

Some of the issues attributed to this alleged delay include issues with the delivery of steel supplies to the construction zone; a real problem, according to officials, but not one that will have any significant impact upon work, they say.

Soon after the “news” got out, chief operating officer of the Raiders’ stadium company, Don Webb, set the record straight, assuring board members that the construction of Raiders Stadium will be finished on-time for the start of the team’s 2020 pre-season season.

The Raiders broke ground on the new $2 billion, 65,000-seat stadium on November 13, 2017 – a joint-use agreement with the football team of the University of Las Vegas – and the impending arrival of the world-famous footballers has already attracted new businesses and investors to Las Vegas who believe that a local professional sporting team will serve as a massive boon to their bottom lines.

Indeed, this has already been proven to be the case; hotel room tax proceeds for the city of Las Vegas related to Raiders-influenced tourism have exceeded original projections by 0.6 percent, for a total of nearly $94 million through January of 2020, according to reports.

In addition to Raiders Stadium, work is also underway on a $100 million training facility/team headquarters that is located in the vicinity of Henderson Executive Airport. The headquarters will offer 323,000 square feet consisting of advanced training and workout facilities – including three practice areas located outside as well as an indoor football field – in addition to numerous corporate offices to house the team’s management, executives, and other personnel.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS – The Circa hotel-casino, the latest high-profile resort to grace downtown Las Vegas, recently hit a major construction milestone on its way to its planned December 2020 opening with the pouring of its foundation, courtesy of 2,050 cubic yards of concrete delivered via a whopping 205 transport trucks. The Circa, located at 18 Fremont Street, slated to be a 1.25-million-square-foot, 777-room resort, casino, and spa, is set to hold a variety of immersive culinary, entertainment and gaming experiences.

“Today marked one of the first of many incredible moments in the story of Circa,” said Downtown Las Vegas developer Derek Stevens. “We are literally and physically laying the foundation for what’s to come and can’t wait to introduce Circa’s exciting new offerings to the 24 million people that visit Downtown Las Vegas every year.”

In addition to a plethora of amenities for guests and tourists to take advantage of, the Circa will also boast the largest sportsbook in the country. A sportsbook (or a race and sports book, sometimes abbreviated simply as book) is a place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, hockey, soccer, horse racing, greyhound racing, boxing, and mixed martial arts.

Experts are predicting that the action in Las Vegas in the near future will eventually evolve, moving away from pure gambling and gravitating towards more sports-related betting; the growing sports industry in Las Vegas is certainly one of the catalysts for this change, mostly due to the move of the NLF Raiders football team to Vegas in 2020. This changing landscape is being spearheaded by Circa’s focus on the sportsbook aspect of its business.

In addition, experts note that, as Vegas continues to grow, it will attract more and more tourists that are budgeting their dollars to rooms and experiences outside of gambling; people are visiting the city more for the attractions and sporting venues, and less for the card tables and slot machines.

Stevens, owner of the Circa, has retained the services of architecture and design firm Steelman Partners, in conjunction with contractor McCarthy Building Companies Inc. and construction manager Tré Builders. The hotel-casino, initially announced at the Downtown Las Vegas Events Center in January 2019, also holds the distinction of being the first downtown Vegas resort to be built from scratch – as opposed to the renovation or re-purposing of an existing structure – since 1975.

Derek Stevens is also the owner of several other Las Vegas properties, including the Golden Gate and the D Las Vegas hotel-casinos.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.