拉斯维加斯近期交易更新-机构投资显著上涨
Las Vegas Market Update-Number of Institutional Transactions Rising Fast

亿万富翁菲尔·拉芬8.25亿美元收购美高美集团马戏团酒店

今年10月黑石宣布42.5亿美元收购美高美集团宝丽嘉酒店,同月美高美酒店与亿万富翁菲尔·拉芬达成另一项大额交易,以8.25亿美元出售马戏团酒店。

马戏团酒店位于拉斯维加斯大道北部尾端,1968年开业,共含约3800间客房,2300名员工。其探险圆顶和30亩室内游乐园均为当地热门景点。美高美集团2005年将其收入囊中并经营至今。

“马戏团酒店在拉斯维加斯大道北部尾端已伫立50年之久,屹立不倒,” 拉芬先生表示, “能将其收购令我非常激动。此前这间酒店为美高美集团提供了大量现金流,我们希望它未来也能如此。”

菲尔·拉芬

亿万富翁菲尔拉芬是一名美国实业投资人。目前他拥有拉斯维加斯的金银岛酒店,并共同持有当地的特朗普酒店。其所拥有的资产所在行业包含酒店,赌场,赛狗,石油开发,便利店,房地产,以及世界上最大的手推车制造商等。在福布斯提供的2019年亿万富翁榜上以29亿美元净资产名列第319。

菲尔·拉芬最知名的交易莫过于其1998年以1.65亿美元收购的新边界酒店。在2007年,以12亿美元出售,并以每亩560万美元打破当时拉斯维加斯平均土地最高交易价格记录

来自赌场大亨的专业视角

马戏团酒店曾是美高美集团的重要现金流资产。2019年第二季度净利润达6590万美元,截止6月30日之前12月净现金流高达6200万美元。

居估计,该酒店前每日约有7.8万辆车经过,而流量与酒店游客量更是息息相关。

然而上述的优势并不是菲尔·拉芬豪掷8.25亿美元的全部原因。

拉斯维加斯北部的高速发展

在菲尔·拉芬看来,该资产最大的吸引力反而来自其周边。近几年拉斯维加斯大道北部发展迅猛,新起和改建项目接连不断。在马戏团酒店南部对街便是马来西亚云顶集团的中华世界酒店,向东对街的是正在耗资5亿美元改建的枫丹白露酒店。再向东便是拉斯维加斯会展中心的扩建项目,总扩建面积13万平方米。

“这个地方的流量将越来越热,” 菲尔·拉芬在一次采访中指着地图上的北部地区道,“这个区域正在走向新生。”

另一方面对于春山项目

该由南向北的流量移动恰好经过春山区块,该项目位于宝丽嘉酒店到马戏团酒店之间,与菲尔·拉芬的另一个资产金银岛酒店隔街对望。 根据近期的一则媒体采访,菲尔·拉芬将正向现金流战略资产作为其主要投资方向,再经过2-3年的市场发酵等待项目进一步升值。

这也是这位亿万富翁在过去几十年一直奉行的准则。对于拉斯维加斯的发展势头他表示相当乐观,更坚信未来地产价值会持续攀升。


MGM Sell Circus Circus to Phil Ruffin for $825 million

At the same time when MGM announced its $4.25 billion Bellagio sold to Blackstone, on October, the company MGM has signed a deal to sell its Circus Circus Las Vegas property for $825 million to an affiliate of Treasure Island owner Phil Ruffin.

Opened in 1968 on the north end of the Strip, the 3,800-room Circus Circus Las Vegas employs 2,300 employees and is known for Adventuredome, a 5-acre indoor amusement park. MGM has owned the property since 2005.

“Circus Circus has anchored the north end of the Las Vegas Strip for over 50 years,” Ruffin said in a statement, “and I am excited to add it to my casino portfolio. It’s been a real cash cow for MGM. Now, hopefully it’ll be a cash cow for us. ”

Phil Ruffin

Phil Ruffin is an American businessman. He owns the Treasure Island Hotel and Casino in Las Vegas, in addition to a number of other enterprises including hotels, casinos, greyhound racing tracks, oil production, convenience stores, real estate, and the world’s largest manufacturer of hand trucks. He also co-owns the Trump International Hotel in Las Vegas. On the Forbes 2018 list of the world’s billionaires, he was ranked No. 877 with a net worth of US $2.7 billion.

Phil Ruffin is best known for his purchase of the New Frontier Hotel and Casino, for $165 million in 1998, and sold the property for $1.2 billion in 2007. The $34 million per acre deal created the largest per-acre price history in the Strip during that time.

The Casino Giant’ s Vision

The property had been a gold mine for MGM. It made about $65.9 million in net revenue last quarter, and reported a cash flow of $62 million for the 12 months ending June 30.

In front of the building, there is an estimated 78,000 cars drive past every day — potential foot traffic for the site.

However that are not all reasons why Phil Ruffin made this decision.

Rapid Development of North Las Vegas

one of the biggest draws is what’s taking place even outside the property. To the south of Circus Circus is the $4 billion Resorts World, set to open next year. Just across Las Vegas Boulevard is the Drew Las Vegas project. And further east is the Las Vegas Convention Center expansion, which is adding 1.4 million square feet.

“Traffic’s going to increase,” Ruffin said, pointing to the whiteboard drawing. “The north side is coming alive.”

LVSM on the other hand

is well located on the moving trend. It is in the middle between Bellagio and Circus Circus, and just cross street of Treasure Island, an other Phil Ruffin’s property.

Investment strategy that Phil Ruffin believes is to hold a strategy asset with positive cash flow, and waits for the market to grow for 2-3 years, according to his most recent interview. That is what he always been doing in the past decades. He believes in the upward momentum of Las Vegas, as well as the upside potential for real estate price in the core area.

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