VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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IN BUSINESS REAL ESTATE NEW-HOME SALES IN LAS VEGAS UP IN MAY By Steve Green senior staff writer Las Vegas-area new-home sales rose in May as sales con- tinued to rebound from the 30-year low of 2011. Home Builders Research Inc. reported that builders sold 401 homes locally in May, up from 347 in April and 291 in May 2011. The median price of re- corded new-home sales was $193,504, down from $200,350 During the first five months of 2012, 1,617 new homes were sold, up 306, or 23 percent, from the same period in 2011. Builders have been issued 2,246 new-home permits, up 681, or 44 percent, from the same period in 2011, Home Builders Research said. Dennis Smith, president and CEO of Home Builders Research, said in his monthly report that new-home sales are rising thanks to: n "Incredibly low" interest rates. n Prices being at their most affordable level in almost 15 years. homes n The supply of existing for in April but up 1 percent from down in foreclosure sales. one year ago. "The housing market in Las Vegas appears to be on the verge of a period of robust, sustained growth," said in the report. With more homes being built, employment may pick up in the local construction industry. Smith Market research has shown that the people who watch UFC — primarily men in their 20s and 30s — are the same people most attracted to online gaming. They are an audience worth bil- lions of dollars, Fertitta Interactive Chairman sale continuing to tighten because of a slow- Ultimate Gaming interactive brand. The com- monetary online gaming format." pany plans to advertise the venture during UFC fights. Frank Fertitta III and Lorenzo Fertitta own the UFC, Fertitta Interactive and Station Casinos. "Online is about accessibility for the player, " he continued. "I think people are very fearful that once online flips over, all these beautiful buildings on the Strip will have a shelf life of five to 10 years and everyone will have moved online. I think the goal is to find out how they coexist; how do people move from one place to the next? Capture them online, and get them to redeem an offer at the casino." Fertitta Interactive is eyeing a different pop- ulation with its online brands. It wants to tap into the popularity of Ultimate Fighting with its UFC'S POPULARITY CAN BE AN ADVANTAGE Tom Breitling said. SOCIAL MEDIA, FROM PAGE 7 ized boats and drink margaritas. Farmville has amassed a strong following of middle-aged women, moms with time to spare and money to spend. By copying the Farm- ville model, Caesars Entertainment and the Margaritaville brand hope to hook a similar demographic. If they fall in love with Jimmy Buffett's virtual world, they'll be more inclined to visit the real one tucked into a corner of the Flamingo. Margaritaville Online debuted shortly after the Flamingo, owned by Caesars Entertainment, mini casino. introduced its Margaritaville WMS is bridging the virtual world with the real one by developing online versions of its casino games that allow players to earn credits online that they can then apply on the casino floor. Close to 1 million people have signed up for PlayersLife. A million more have registered over the past six months for WMS' Facebook slot game, "Lucky Cruise." Last week, WMS ac- quired Phantom EFX, which develops interac- tive and mobile slot games. "You can't go from a physical gaming envi- ronment straight to online gaming," Bone said. "You have to have that intermediary step where you're creating communities of people and engaging with them. Then you go into a more 87,000 sq-ft. upscale office, showroom & warehouse space 5475 S. Decatur Blvd. (between Hacienda and Russell) Prime Locations. Now Leasing. Excellent access to I-15, I-215, McCarran Airport and "The Strip" NEIL, DEVON, ROLAND & MILES SANSONE BUSINESS CENTER VALLEY VIEW COMMERCIAL & RESIDENTIAL • Lower your expenses • Increase your cash flow • Maximize profitability 554,000 sq-ft. office, showroom & warehouse space divisible to 900 s.f. 6280, 6380, 6555 & 6625 S. Valley View Blvd. (between I-215 and Russell) 20 www.hellercompanies.com 702.320.4400 | 2 JULY 2012 | (702) 768-1940 sansonecompanies.com 30+ Years MANAGEMENT FULL-SERVICE PROPERTY 20120702_VI07_F.indd 20 6/28/12 3:14:53 PM