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NEW YORK CITY-In response to clients’ demands, Cushman & Wakefield has entered the gaming industry and the first order of business was to rename its Hospitality Industry Group to the Hospitality & Gaming Group. Daniel H. Lesser, who headed up the Hospitality Industry Group, will lead the new unit, which is part of the C&W Advisory Group.

C&W decided to make the move after realizing that many of its client–including major hotel companies and lenders–have demands in the gaming area. For example, the firm was recently retained to provide valuation services in connection with Steve Wynn’s proposed $2.5 billion La Reve resort and casino in Las Vegas. C&W has also been retained to provide valuation and consulting services to towns and Native American tribes in connection with riverboat and land-based casino projects.

“As gaming has proliferated throughout the US, we have found the need for experienced gaming consultants and appraisers has grown markedly,” Lesser, managing director, says in a statement. “Our hotel clients have requested assistance in their gaming endeavors. This outgrowth will enable Cushman & Wakefield to provide the support needed.”

He adds that he expects the revenue in this business to double over the next two to three years.

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