First Federal Realty DeSimone

What First Federal Realty DeSimone does

First Federal Realty DeSimone is a privately held, vertically integrated real estate firm founded in 1996 by Joseph DeSimone Jr. and headquartered in Henderson, Nevada. The company operates across the full Southern Nevada real estate lifecycle, providing commercial sales, leasing, and marketing; residential sales and marketing; real estate development (more than six professional office complexes completed, including community needs analysis, financing, public-private partnerships, and municipal approvals); and business brokerage. It also acts as advisor, developer, sponsor, and/or general partner in investment partnerships, joint ventures, and syndications managing multi-million dollar real estate investments.

The firm has expanded into adjacent operating businesses under the DeSimone Gaming umbrella, owning and operating wholly-owned subsidiaries including the Railroad Pass Hotel and Casino (acquired from MGM Resorts in April 2015; the nation's longest continuously operating casino, established in 1931, with 120 guest rooms and multiple dining venues), The Pass Casino (acquired from Boyd Gaming in December 2020 and reopened April 2021 in Downtown Henderson's Water Street District with 350+ slot machines), and the Railroad Pass Travel Center (opened June 8, 2018, a 16-acre facility with Chevron fuel, Tesla Supercharging, and Roady's Truck Stops partnership). Combined gaming operations include a William Hill-operated race and sports book and a linked player's club between the two casino properties.

Revenue is generated primarily through real estate commissions on sales and leases (residential and commercial), development fees and principal returns on owned projects, investment management economics from joint ventures and syndications, business brokerage transaction fees, and consumer-facing gaming/hospitality revenue from casino, hotel, food and beverage, and travel center operations. The go-to-market is sales-led and relationship-driven, leveraging the founder's Southern Nevada presence since 1996, MLS and major online portal distribution (Realtor.com, Zillow, Trulia, Redfin), and direct referrals. The company has no disclosed proprietary technology platform and operates exclusively in the Southern Nevada / Las Vegas Valley geography.

Name

First Federal Realty DeSimone

Legal name

1st Federal Realty DeSimone

Website

https://desimonecommercial.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

First Federal Realty DeSimone is a privately held, Henderson, Nevada-based firm providing commercial and residential real estate brokerage, development, and investment syndication services, plus wholly-owned gaming and hospitality operations including Railroad Pass Hotel and Casino, The Pass Casino, and Railroad Pass Travel Center.

Ownership category

akta.pro rank

Product category

Commercial real estate services

NAICS

Offices of Real Estate Agents and Brokers (53121), Other Activities Related to Real Estate (531390)

SIC

Real Estate Agents & Managers (For Others) (6531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Closing Coordination & Transaction Management (Broker/Agent Support) (BPAJAOAH)

akta.pro secondary industry

New Development & Project Marketing (Pre-Construction Sales) (FSAEAJAE)

Keywords

• Commercial real estate brokerage
• Real estate development
• Residential property sales
• Business brokerage services
• Casino gaming hospitality

Headquarters

HQ city

Henderson

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Real Estate Commission - Sales & Leasing: The company earns commissions on residential and commercial property sales and leases, acting as both broker and principal. Residential services cover buying and selling; commercial covers sales, marketing, leasing, and property management.
2. Development as Principal: First Federal Realty DeSimone develops commercial real estate projects as the principal developer, including office complexes. The firm also acts as advisor, developer, incorporator, sponsor, and/or general partner in investment partnerships, joint ventures, and strategic alliances across multiple syndications, managing multi-million dollar real estate investments.
3. Business Brokerage Services: Full-service business brokerage in Nevada covering buyer representation, preparing businesses for sale, listing and marketing to qualified buyers, and coordinating closings. Also includes commercial property leasing, purchase, and sales as part of brokerage services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

First Federal Realty DeSimone is a vertically integrated real estate firm providing commercial real estate sales, leasing, and development; residential real estate sales and marketing; and business brokerage services in Southern Nevada. It also acts as advisor, developer, sponsor, and/or general partner in real estate investment partnerships and joint ventures. Through its DeSimone Gaming division, it owns and operates the Railroad Pass Hotel and Casino, The Pass Casino, and the Railroad Pass Travel Center.

Product overview

First Federal Realty DeSimone is a real estate services company founded in 1996 by Joseph DeSimone Jr., operating as a unified platform offering commercial real estate (sales, leasing, and development), residential real estate services, and business brokerage. The company has expanded into gaming and hospitality through its DeSimone Gaming division, which owns and operates Railroad Pass Hotel and Casino, The Pass Casino, and the Railroad Pass Travel Center. The portfolio spans property development and investment advisory for investors, buyer/seller representation across commercial and residential segments, business brokerage services, and integrated gaming/hospitality operations.

Differentiator

Problem solved

Functional benefit

Brands

• Railroad Pass Hotel and Casino: Historic casino established in 1931, known as the nation's longest running casino, featuring 120 guest rooms, three restaurants (Box Car Buffett, Iron Rail Cafe, DeSimone's Steakhouse), table games, video poker, penny slots, and William Hill Sports Book.
• The Pass Casino
• Railroad Pass Travel Center

Products and services

• Commercial Real Estate Sales & Marketing Full-service commercial real estate sales and leasing for office, retail, and industrial properties in Southern Nevada. Services include buyer representation, listing and marketing, and commercial property transactions.
• Real Estate Development Commercial real estate development services including land development, build-to-suit projects, joint venture partnerships, and project consulting. The firm has completed more than six professional office complexes incorporating community needs analysis, financing, site selection, feasibility studies, and municipal approvals.
• Residential Sales & Marketing Residential real estate services for home buyers and sellers in the Las Vegas Valley and Henderson, Nevada. Listings are marketed through MLS and major real estate websites including Realtor.com, Zillow, Trulia, and Redfin.
• Business Brokerage Services Full-service business brokerage including buyer representation, preparing businesses for sale, listing and marketing to qualified buyers, and commercial property leasing/purchase/sales coordination.
• Railroad Pass Hotel and Casino Historic hotel and casino property established in 1931, the nation's longest-running casino, located in Henderson, NV. Features 120 guest rooms, three restaurants, table games, video poker, penny slots, and a William Hill Sports Book.
• The Pass Casino Casino property in Downtown Henderson's Water Street District featuring 350+ slot machines, live table games, 24-hour dining at Emilia's Cafe, fine dining at Ristorante Italiano, The Venue banquet space, and a linked player's club with Railroad Pass.
• Railroad Pass Travel Center Travel center and truck stop adjacent to Railroad Pass Casino, featuring an 8,500 sq ft convenience store, Chevron fuel station, Tesla Supercharging stations, food, truck scale, propane dispensing, and free long-term truck and RV parking.

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Marcus Gaming LLCminorStrategic or Co-development Partner · 24 July 2015Marcus Gaming LLC was selected to run the gambling operations of Railroad Pass Hotel and Casino while Joe DeSimone completed the Nevada gaming licensing regulatory process. Once DeSimone received approval from the Nevada Gaming Commission on July 24, 2015, Marcus Gaming's operational role concluded.
• MGM Resorts InternationalminorOthers · 2 April 2015MGM Resorts International was the prior owner of Railroad Pass Hotel and Casino. Joe DeSimone purchased the property from MGM Resorts in April 2015. This was a one-time transaction (property acquisition) rather than an ongoing partnership.
• ChevroncoreStrategic or Co-development PartnerThe Railroad Pass Travel Center is powered by Chevron with Techron fuel. The 16-acre facility includes 20 Chevron fuel pumps and 7 diesel semi-truck gas stations. Chevron branding is prominently featured at the facility, which opened June 8, 2018.
• TeslacoreTechnology or IntegrationTesla installed 12 Supercharging stations at the Railroad Pass Travel Center. The station is listed on Tesla's official Supercharger locator map (Henderson, NV 89002). This provides EV charging infrastructure for travelers refueling at the facility.
• Capriotti's Sandwich ShopminorChannel Partner/ Reseller/ DistributorCapriotti's Sandwich Shop operates a location inside the 8,500 sq ft convenience store at the Railroad Pass Travel Center, providing food and beverage options for travelers and truck drivers visiting the facility.
• Roady's Truck StopscoreGTM or Marketing PartnerRailroad Pass Travel Center is a proud partner of Roady's Truck Stops. Truck drivers can earn rewards points when they fuel up at the location, redeemable on merchandise inside the Travel Center. This partnership drives truck driver traffic to the facility.
• William HillcoreStrategic or Co-development PartnerWilliam Hill operates the race and sports book at Railroad Pass Hotel and Casino. The sports book features the latest betting technology, providing sports wagering services to casino patrons.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Colliers International: Global commercial real estate services and investment firm with Nevada presence in brokerage, property management, and project consulting. Comparable as a commercial brokerage and development-services competitor in the same Southern Nevada commercial corridor.
• JLL (Jones Lang LaSalle): Global real estate services firm offering brokerage, property management, and project & development services, including a Las Vegas office. Comparable as a larger commercial real estate competitor serving office and industrial clients in the same Henderson/Las Vegas market.
• CBRE Group: Global commercial real estate services firm with a Las Vegas office covering investment sales, leasing, and project management. Comparable as a commercial brokerage and advisory competitor in the same Henderson/Las Vegas market, though operating at much larger scale.

Direct peers

• Station Casinos: Las Vegas-based operator of locals-oriented casinos and gaming entertainment properties across the Las Vegas Valley including Henderson. Comparable as a competitor in the Henderson gaming market with overlapping customer base via the founder's Railroad Pass and The Pass Casino properties.
• Coldwell Banker Premier Realty: Long-standing residential and commercial real estate brokerage serving Southern Nevada including Henderson and Las Vegas. Comparable as a competing general-purpose brokerage competing for the same agent talent, listings, and client relationships.
• Sun Commercial Real Estate: Nevada-based commercial real estate brokerage and advisory firm operating in Las Vegas and Henderson. Comparable as a Southern Nevada-focused commercial real estate broker competing for the same office, retail, and industrial listings.
• Marcus & Millichap: Specialized commercial real estate investment sales brokerage with a Las Vegas office. Comparable as a competitor focused on commercial investment property transactions, which directly overlaps with FFRD's commercial sales and investor syndication activities.
• Berkshire Hathaway HomeServices Nevada Properties: Large residential and commercial real estate brokerage operating throughout the Las Vegas Valley and Henderson, NV. Directly comparable as a Nevada-based full-service real estate firm serving the same buyers and sellers in the same Southern Nevada corridor.

Regional players

• Howard Hughes Holdings: Master-planned community and commercial real estate developer operating Summerlin and other Las Vegas-area developments. Comparable as a Henderson/Las Vegas-region principal developer that competes for land, municipal approvals, and commercial build-to-suit opportunities.
• NAI Horizon: Commercial real estate brokerage serving the Southwestern U.S. including Nevada. Comparable as a competing commercial brokerage serving similar investor and owner-operator clients in the broader Nevada commercial market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ffrd_nv
• Facebookfacebook.com/1stFederalRealty

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Federal Realty DeSimone