CBRE

CBRE Equity Research covers casino operators, gaming REITs, online sports betting and lodging in the Las Vegas Strip, the Las Vegas locals market, US regional markets and Macau. Under John DeCree, coverage resumed in December 2021 with ten large-cap casino, gaming REIT and online betting stocks. At the group level, CBRE says it directs capital toward resilient businesses with limited exposure to economic cycles or favorable long-term trends, while continuing to expand its cyclical transaction businesses for their cash generation. In the year to March 2024, during what it called the worst commercial property downturn since the financial crisis, the group committed a record amount of more than $500 million to co-investments in individual assets. It cited the higher returns that investments made at such points in the cycle had historically produced.

CBRE traces to Tucker, Lynch & Coldwell, founded in San Francisco in 1906, which became Coldwell Banker and was acquired by Sears in 1981. A 1989 management buyout created CB Commercial Real Estate Group, which merged with Richard Ellis International in 1998 to form CB Richard Ellis; the company later renamed itself CBRE Group and moved its headquarters to Dallas. In 2021 it acquired Union Gaming, founded in 2008 by members of Deutsche Bank's gaming research team, and resumed that coverage in December.

Firm facts

Legal name

CBRE Group, Inc.

Type

Other

Founded

1906

Headquarters

Dallas, United States

Listing

NYSE: CBRE

Chair and Chief Executive Officer

Bob Sulentic

Director of Equity Research

John DeCree

Website

cbre.com