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DENVER-As GlobeSt.com reported yesterday, there are times when the reality television show world and the commercial real estate industry intersect. Interestingly enough, this occurred twice in the same sector: while HREC’s founder and CEO Mike Cahill isn’t quite keeping up with the Kardashians, he is lending some gaming and hospitality know-how to a new show on the History Channel. He recently discussed his experiences, and it transpired that the statistics he presented were not the only things surprising about the sector.
According to Cahill, who spoke with GlobeSt.com on the matter, the reality show called the United Stats of America, on which he appeared, revolves around statistics, illustrated in an “interesting” manner by Randy and Jason Skalr – two brothers who are comedians. Cahill was called upon to voice his knowledge of the casino industry for a related segment.
“It was about illustrating how when someone goes into a casino, there is a way for them to be aware of their chances of winning – which casino games have the best odds, or chances for players to make money,” Cahill said, “And then I explained that penny slot machines have the worst odds relative to other slot machines, then we go on to play Blackjack and then roulette.”
Filming took place at the Fitzgeralds casino in Black Hawk, Colorado, and was a long seven hour day, Cahill added. Fortunately for both the show and the hospitality and gaming industry itself, casinos are doing well – but have a bit of a twist going forward.
“The casino industry as a whole is coming back,” stated Cahill, ”Even without new supply additions, Vegas has been getting better and better every month…gaming is growing. It’s coming back as the economy is coming back.”
Of course, this news isn’t exactly surprising, but now, hotel property developers are wiser, taking the new information into account. For instance, Cahill highlighted one new trend: to incorporate casinos into hotels. He said that fewer stand-alone casinos are being built, as statistics show adding one into a hotel encourages guests to play longer and, in turn, generates higher profits.
“It’s very synergistic to get people to stay overnight at the casino and the hotels enable that,” he said.
Typically, the East Coast’s casinos are thriving with Pennsylvania being the top tax revenue generator in the country at the moment. “Casino gaming is really part of America’s fabric now,” Cahill added, “It’s a far cry from 30 years ago. And the amount of people who go [to a casino] once or twice a year now is phenomenal.”
Miriam Lamey Miriam is responsible for coverage of the hotel sector for GlobeSt.com and Real Estate Forum. Our resident social media expert, Miriam educates our readers and our staff on business-related use of Twitter, Facebook and LinkedIn. In addition, Miriam manages GlobeSt.com’s editorial calendar. She can be followed on Twitter at @GlobeStcom or@mirseven.