CBRE
CBRE Group, Inc.
CBRE Group is a Dallas-based commercial real estate services and investment firm listed on the NYSE. Its investment banking arm, CBRE Capital Advisors, publishes gaming, lodging, leisure and real estate equity research, built on the 2021 acquisition of Las Vegas boutique Union Gaming.
Company history
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.
- 1906Tucker, Lynch & Coldwell founded in San Francisco
- 1981Coldwell Banker acquired by Sears
- 1989Management buyout creates CB Commercial Real Estate Group
- 1998Merges with Richard Ellis International to form CB Richard Ellis
- 2021Acquires gaming investment bank Union Gaming
Research
CBRE Equity Research concentrates on casino operators, gaming REITs, online sports betting and lodging, spanning the Las Vegas Strip, the Las Vegas locals market, U.S. regional markets and Macau. Coverage resumed in December 2021 with ten large-cap casino, gaming REIT and online betting stocks, led by analyst John DeCree. Its analysts issue Buy and Hold ratings with price targets.
Coverage12M
- Stocks
- 15
- Ratings
- 8
- Price targets
- 13
- Median upside
- +18.9%
- Upgrades
- 1
- Downgrades
- 5
- Initiations
- 0
- Reiterations
- 2
- Targets raised
- 3
- Targets cut
- 4
- Positive38%3
- Neutral63%5
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 DKNGDraftKings Inc. | Buy | $27 |
 FLLFull House Resorts, Inc. | Buy | $3 |
| GDGDENGolden Entertainment, Inc. | Hold | $28 |
 LVSLas Vegas Sands Corp. | Buy | $62 |
 MCRIMonarch Casino & Resort, Inc. | Hold | $125 |
 MGMMGM Resorts International | Hold | $50 |
 MLCOMelco Resorts & Entertainment Limited | Buy | $8.50 |
 ACELAccel Entertainment, Inc. | — | $17 |
 BYDBoyd Gaming Corporation | Buy | $100 |
 CWKCushman & Wakefield plc | — | $18 |
Analysts24M
- John DeCreeGDEN · BYD · DKNG7
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| DraftKings Inc.DKNG | Reiterate | Buy | $54 →$27 | Aug 21 |
| Melco Resorts & Entertainment LimitedMLCO | Reiterate | Buy | $8.50 | Aug 17 |
| Full House Resorts, Inc.FLL | Upgrade | Buy | $5.50 →$3 | Aug 7 |
| Las Vegas Sands Corp.LVS | Target | $72 →$62 | Jul 23 | |
| Monarch Casino & Resort, Inc.MCRI | Downgrade | Buy →Hold | Jul 21 | |
| MGM Resorts InternationalMGM | Downgrade | Buy →Hold | Jun 3 | |
| MGM Resorts InternationalMGM | Target | $50 | Jun 2 | |
 Caesars Entertainment, Inc.CZR | Downgrade | Buy →Hold | May 29 | |
| RHRyman Hospitality Properties, Inc.RHP | Downgrade | Buy →Hold | May 5 |
Similar coverage12M
References
- CBRE Group, Inc. Acquires Union Gamingcbre.com
- CBRE resumes global gaming coverage, wary on Macau - IAGasgam.com
- CBRE Group - Wikipediaen.wikipedia.org
- CBRE Group, Inc. Reports Financial Results for Q2 2026ir.cbre.com
- John DeCree - CBREcbre.com
- CBRE analyst touts Las Vegas locals casinos - CDC Gamingcdcgaming.com