ADDED
The Las Vegas metropolitan area population continues to grow, posting a 1.6% growth rate in 2025.
As of December 2025, the unemployment rate in the Las Vegas metropolitan area was 5.2%, down from 5.9% in December 2024 and 5.3% in December 2023.
Statewide, the unemployment rate for December 2025 was 5.2%, as compared to 5.7% in December 2024 and 5.4% in December 2023.
The median price of an existing single-family home in Las Vegas was $470,000 at December 31, 2025, down 1.1% as compared to December 31, 2024, according to the Las Vegas Realtors .
Given the ongoing economic uncertainty driven by inflation, heightened interest rates, increased geo-political and regional uncertainty and conflicts, and the current administration s approach to regulation and oversight, it is difficult to predict whether the trends in unemployment, population growth and housing prices in the Las Vegas area will continue.
Our properties have continued to experience favorable customer trends in 2025, including strong carded slot play and robust visitation and net theoretical win across the majority of our properties.
However, we cannot predict whether these trends will continue, nor can we predict the extent to which the impacts of inflation and other economic uncertainties on the United States and Las Vegas economies may affect our business in the future.
During our almost 50-year history, we have developed a culture that focuses on operational excellence and cost management.
We believe our scalable platform and extensive development and management expertise provide us the ability to build master-planned expansions, pursue acquisitions and/or seek new development opportunities in an effort to maximize equityholder returns.
Construction commenced on the site of the North Fork Project in September 2024.
REMOVED
The resort features approximately 533,000 square feet and includes 83,000 square feet of casino space, four full-service food and beverage outlets, a food hall, a state-of-the-art sports book and a resort-style pool .
The Las Vegas metropolitan area population continues to grow, posting a 1.9% growth rate in 2024.
As of December 2024, the unemployment rate in the Las Vegas metropolitan area was 5.9%, up from 5.3% in December 2023 and 5.4% in December 2022.
Statewide, the unemployment rate for December 2024 was 5.7%, as compared to 5.4% in December 2023 and 5.2% in December 2022.
The median price of an existing single-family home in Las Vegas was $475,000 at December 31, 2024, up 5.6% as compared to December 31, 2023, according to the Las Vegas Realtors .
In light of uncertainty in the economic outlook stemming from inflation, higher interest rates and increased geo-political and regional conflicts, we cannot predict whether the trends in unemployment, population growth and housing prices in the Las Vegas area will continue.
Our properties have continued to experience favorable customer trends in 2024, including strong carded slot play, strong customer engagement and robust spend per visit.
However, we cannot predict whether these trends will continue, nor can we predict the extent to which the impacts of inflation and higher interest rates on the United States and Las Vegas economies may affect our business in the future.
During our over 48-year history, we have developed a culture that focuses on operational excellence and cost management.
Utilize flexible capital structure to drive growth and equityholder returns.