It was a good deal on a location that led to more deals for Dreamscape, which wasted no time raising a billion dollars and purchasing hotel properties in key markets across the U.S., including Miami, The Saint Hotel in New Orleans, The Warwick Hotel Rittenhouse in Philadelphia, and the 2,522-room Rio All-Suite Hotel & Casino in Las Vegas — which Dreamscape purchased from Caesars Entertainment Corp. for $575 million in 2019.
Clearly, the devil-may-care Las Vegas brand is still very much intact . It’s not much different from what’s happening in Miami. Or Times Square. These are gateway cities in need of the kind of revenue boost that only pent-up-party tourists can bring.WELCOME TO MARGARITAVILLE It's these changes in latitudes, changes in attitudes, Nothing remains quite the same… If we couldn't laugh we would all go insane.”
“There is no market data today that makes any sense. It’s instinct. When you do what we do, you build a sixth sense around being able to make decisions. When we started this building, I started it spec. I had no tenant. I didn’t know what I was gonna do. But I wanted the location, because location is one of the biggest drivers of the basis and the costs of how you put together a deal,” said El-Gamal. ...
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