Unwrapping the Secrets to Hotel Casino Valuation: A Las Vegas Perspective

Saturday, September 23 • 8:00 am - 5:00 pm

With the expansion of legalized casino-style gambling over the past decade, more jurisdictions are faced with the challenges of valuing casino properties for tax purposes. This seven-hour course will provide an overview of the valuation of Hotel Casinos from the perspective of Clark County (Las Vegas), Nevada.

Though each jurisdiction may have unique market influences different from Las Vegas, this class is designed to provide a framework for getting started in Hotel Casino valuation.  Over the course of the day, the attendee will be guided through valuing a Hotel Casino property.  This includes instruction on tracking and analyzing departmental revenue and expenses; reviewing and analyzing historical market transactions; and deriving revenues, expenses and cap rates necessary to make a valuation determination. Practical examples will be provided for review along with charts showing statistical analysis on historical data.

The course will include a “back of the house” tour of a prominent Hotel Casino property on the Las Vegas Strip. The program is limited to 40 participants (with a 20 person minimum) and registration must be received by the July 21st early bird deadline. The course is an additional $125 for members and $220 for non-members.

What you will get from this 7 hour Course:
  • A better understanding of how to value Hotel Casinos using the Income approach
  • Methods for deriving departmental revenues
  • Methods for deriving departmental expenses
  • Data on historical Hotel Casinos transactions- Cap Rates
  • Sources for attaining data on Hotel Casinos
  • Data on revenue and expense ratios based on analysis conducted over the past 5-7 years
  • Live “back of the house” tour of a prominent Hotel Casino Property     

Presented by Mary Ann Weidner, Appraisal Analyst Clark County, Nevada
The course will be taught by Mary Ann Weidner, Appraisal Analyst at Clark County, Nevada. Previously she has been an Appraiser, Technical Support & Trainer for Real Estate Accounting Software Development Company, Software Training Manager for Software Training Company, Real Estate Broker and Real Property Manager.

She received a Master’s in Public Administration from the University of Nevada at Las Vegas, and a Bachelor of Science in Psychology (cum laude) from Tennessee Temple University. She is a Nevada Certified Real Property Appraiser for Tax Purposes and Nevada Certified Personal Property Appraiser for Tax Purposes. She has also received the IAAO Residential Evaluation Specialist designation and achieved a Florida Real Estate Broker’s License.

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