For a private development group, CSG assessed the casino gaming market potential for a proposed Dream Hotel in Las Vegas, Nevada.  Dream Hotels, a luxury boutique hotel brand in select markets worldwide, planned to develop a 450-room hotel and casino on the Las Vegas Strip.  The Dream brand and the facility positioning were unique to Las Vegas, with a focus on high-end immersive experiences.  CSG evaluated the Las Vegas gaming market and prepared a forecast for a casino to be located within the Dream property.  Forecast were the casino’s potential capture of gaming visits, spending patterns, casino utilization and revenue generation, as well as the optimal sizing for the facility.  A 5-year casino operating pro forma was generated down to an EBITDAR level, considering regional labor costs and expenses in terms of supplies, marketing costs and related promotional allowances, gaming tax and license fees and maintenance costs.  Construction commenced in 2022, but is currently on hold pending the close of construction financing. 

Subsequently, CSG was re-engaged in 2024 by the client to assess an updated and refined building program, and its potential for visitation and revenue capture.  The slightly larger property (531 hotel rooms) is to be a highly stylized property targeting multiple upscale market segments (including the affluent, trend-conscious, and sports-centric).  Unique amenities were evaluated for their contribution to the property’s draw, and comparisons made to high-profile attractions in Las Vegas through the use of Placer.ai mobile phone tracking data. Through the use of this data, CSG was able to better evaluate the flow of visitors along the Las Vegas Strip, and among attractions such as the Welcome to Fabulous Las Vegas sign, the Allegiant Stadium. Construction of this project is expected to pick up in the 4^th quarter of 2024.