New Casino - impact on STR?

Question

Curious how you all would think a resort + casino going into a STR market will go and the impact? I have a property I'm wanting to put an offer on but found out that will be being built in the next year or two!

I see how it could bring more people, but also couldn’t it have a flip side to that too?

Sokun S. · Answer

If it's anything like the Las Vegas market, a "resort casino" specifically could hamper your STR potential purchase pretty substantially. In Henderson, NV there's a 2500 mininum distance requirement from a resort casino so make sure you confirm that you're even able to operate before jumping in.

John Underwood · Answer

Should be good until STR'S take business away from their hotel and they lobby to ban STR'S.

Dustin Allen · Answer

@Alicia Hall

The question is how many rooms will be added with that casino resort and are they going to draw more people than they can house? If people are already traveling there, they probably figured there was more than enough demand for room nights to add the rooms they are adding.

Alecia Loveless · Answer

@Alicia Hall in most markets I would think this is great! If they enact STR regulations might be an issue. Watch for local zoning regulations.

Gerald Pitts · Answer

What's the flip side?  Agree with all of the above regarding upside.

Rolly Weaver · Answer

There’s not enough information to give a credible response…

Dave Stokley · Answer

Slot machines (and casinos in general) are insanely lucrative. Those places practically give rooms away to get people on the gaming floors. They’ll bring you more business and I don’t think you need to worry about them coming after your business.

Luke Carl · Answer

I’m in. Raise your rates I’ll still book. Double down.

Joshua Strickland · Answer

Should increase the draw to the area. Curious what market?

New Casino - impact on STR?

Most Popular Reply