With Gambling Heating Up in New York, NGKF Adds Two to Gaming Practice
Daniel Edward Rosen July 25, 2012, 7:45 a.m.
Newmark Grubb Knight Frank has added two gaming industry veterans to its National Gaming practice, the firm announced last week.
John Knott III and Michael Parks, both founders of CBRE’s Global Gaming Group, have been responsible for closing more than $3 billion in gaming property and land sales, including the sales of the Trump Marina in Atlantic City, Caesars Tahoe, Flamingo Laughlin, and Boomtown in Reno, Nevada.
The two will be tied to Newmark Grubb Knight Frank’s Las Vegas office, where it has over 100 professionals working “in concert with its affiliates,” the firm said in a press release.
Messrs. Knott and Parks could not be immediately reached for comment.
In a statement, Mr. Knott said the two were “very excited” about joining the Newmark Grubb Knight Frank team.
“The added disciplines and expertise that exist will provide clients with the most comprehensive array of services available from a single source,” Mr. Knott added.
NGKF has ties to Cantor Gaming through its affiliation with Cantor Fitzgerald. Cantor Gaming operates race and sports books at Las Vegas properties like The Venetian Las Vegas, Palms Casino Resort, and Tropicana Las Vegas.
The duo’s addition to the NGKF team is timed just as New York aims to legalize casino gambling in the state. While casino gaming is still two years away from being legalized, gaming operators like MGM and Wynn Resorts have been kicking the tires about possible casino locations. NGKF chairman Jeffrey Gural owns two racinos in the state, Tioga Downs and Vernon Downs.