Sergio Colombo Featured In Housing News Report

LAS VEGAS - Aug. 14, 2015 - PRLog -- I was interviewed by the RealtyTrac managing editor for the Housing news Report for August 2015, here’s a direct link to the article:

http://www.realtytrac.com/rnshared/HNR/INMAN/eHNR_August_2015_Inman.pdf


Excerpt:

Betting Big on Three New Casinos

Sergio Colombo, the broker/owner of Terra Ferma Real Estate in Las Vegas, Nevada, said the local real estate market was looking up. Colombo said several new casinos on the Las Vegas Strip could be the city’s next big jackpot. “It’s pretty stable,” said Colombo, referring to the local residential real estate market. “The economic factors are all good. Unemployment is at 6 percent, which is pretty good. And there are several new casino scheduled to open in 2016. The new casinos will add 15,000 to 20,000 new jobs.” Colombo said that when Resorts World Las Vegas, an Asian-influenced mega resort opens in 2018, it will be the first casino on the Strip specifically marketed towards Asian tourists. In May, Malaysia developer Genting Group broke ground on a $4 billion Chinese-themed casino resort with three hotels and 3,500-rooms on the north side of the Las Vegas Strip. The resort will have a replica of the Great Wall of China. Another resort will be developed next door by Australian billionaire James Packer, whose company — Crown Resorts Ltd. — bought the former Frontier site across the street from Wynn Las Vegas and plans to build a mega-resort there. Details have not been announced but construction will start this year and open by 2018. And the shuttered 60-year-old Riviera casino-hotel will be imploded to make way for a $2.3 billion remodeling of the Las Vegas convention center, reports The Wall Street Journal. “We are looking forward to these new casinos to create more jobs,” said Colombo. “We also have a lot of people relocating from California to Las Vegas because of high taxes.”