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Las Vegas Business News

Las Vegas still on outside looking in for hosting NCAA championships

April 2nd, 2017

GLENDALE, Ariz. — Imagine several thousand kids dribbling basketballs down the Strip past T-Mobile Arena.Imagine a refurbished Doolittle Center with new basketball courts and locker facilities.Imagine Ed Sheeran playing his favorite hits under the stars on a perfect spring night.Most of all, imagine the Final Four holding court just off Russell Road at the state-of-the-art football stadiu...Read More >>

Macau gambling revenue rises 18 percent in March

April 1st, 2017

HONG KONG — Revenues from gambling in Macau rose 18 percent in March, beating expectations and posting an eighth consecutive monthly increase as wealthy gamblers took their chances in China’s only legal casino hub, the world’s biggest.Gambling revenue in the southern Chinese territory rose to 21.2 billion patacas ($2.6 billion), government data showed on Saturday. Analysts wer...Read More >>

Experts: It will be a challenge to build the Las Vegas Raiders stadium in time for the 2020 season.

April 1st, 2017

Southern Nevada construction industry experts say whoever ends up building the planned 65,000-seat stadium for the Las Vegas Raiders will face a massive challenge to get it done by the opening of the 2020 NFL season.The enormity of the project, the long checklist of approvals necessary to get started and a potential labor shortage once work begins are among the roadblocks facing the Raiders, th...Read More >>

Inside Faraday Future offices, a startup comes to life

April 1st, 2017

GARDENA, Calif. — Developers, researchers and engineers wearing cotton T-shirts and jeans roam the hallways of Faraday Future’s headquarters in Gardena, California, and sit in rows along the open office space.Some are working with 3-D modeling software to tweak engine design, while others are working on ergonomic rear seats. Meetings take place in hallways and in conference rooms na...Read More >>

Wagering on Las Vegas Raiders a sure bet

April 1st, 2017

Once it became clear last week that the National Football League had cleared a path for the Raiders to relocate from Oakland to Las Vegas for the 2020 season, some hand-wringing re-emerged on the topic of betting on the team.Will bettors be able to wager on the Las Vegas Raiders?National commentators raised some doubts, so it’s time to clear the air about what’s known as Regulation ...Read More >>

The recession took its toll on Las Vegas — but there were other elements

March 31st, 2017

When I moved to Las Vegas in 2012, the valley was littered with abandoned, partially built projects from the bubble years. Condo buildings, retail, hotels, you name it — if you didn’t know better, you’d think construction was hot as ever, given all the job sites.Many of the once-mothballed projects are now completed or earmarked to be, but not all. The Fontainebleau is still a...Read More >>

Sale of ex-Trump Taj Mahal casino to Hard Rock is finalized

March 31st, 2017

ATLANTIC CITY — It’s official: Atlantic City’s former Trump Taj Mahal casino now belongs to Hard Rock International.The sale of the shuttered casino opened in 1990 by President Donald Trump was finalized Friday.The Florida-based Hard Rock, which manages gambling and resort operations for the Seminole Indian tribe, bought the casino March 1 from billionaire investor Carl Icahn....Read More >>

Adidas adopting new store design for Las Vegas Strip store

March 31st, 2017

Footwear retailer Adidas is updating its Strip store into a new design inspired by high school stadiums.The design will finish by June and will resemble the company’s New York stores, company spokeswoman Maria Culp said.The Strip location, at Showcase Mall, 3785 Las Vegas Boulevard South near the M&M store, will have a tunnel entrance reminiscent of what high school athletes run throu...Read More >>

Young entrepreneurs gather for a ‘sticky note explosion’

March 31st, 2017

RedFlint is hosting what organizers describe as “an explosion of sticky notes,” this weekend.Eric Lassard, a 13-year-old Las Vegas boy and chief technology officer of Airschool.tv, organized a Youth Startup Weekend at RedFlint — a University of Phoenix-owned business incubator, community education center and startup accelerator in downtown Las Vegas.“We empower kids to u...Read More >>

Nerd nightclub opens at Neonopolis in downtown Las Vegas — PHOTOS

March 30th, 2017

A crowd turned out Thursday for a ceremony marking the opening of the Nerd nightclub on the second floor of Neonopolis.The nightclub is taking over the space formerly occupied by the Drink & Drag nightclub. The space includes a 12-lane bowling alley and dance floor.Neonopolis is a 250,000 square-foot shopping mall at the Fremont Street Experience.Read More >>

McDonald’s to take ‘fresh’ approach with Quarter Pounders by ‘18

March 30th, 2017

Fast food giant McDonald’s Corp. said on Thursday it would make its Quarter Pounder burgers with fresh beef, prepared when ordered, by mid-2018 in most of its restaurants.The company has been implementing changes to attract more diners, phasing out the use of eggs from caged hens by 2025, and also removing artificial preservatives and high fructose corn syrup from its food.McDonald’...Read More >>

Online ordering ease called key to success in pizza business

March 29th, 2017

For independent pizzerias, online ordering systems are as essential to winning the hearts and stomachs of young pizza fans as fresh cheese and great crusts.And as thousands of pizzeria owners and managers gather in Las Vegas this week for the 33rd annual Pizza Expo, they will likely talk as much about how to improve their mobile applications and delivery systems as about where to source the bes...Read More >>

Ford recalls 500K vehicles for engine fires, door problems

March 29th, 2017

DETROIT — Ford is recalling more than 570,000 vehicles in North America and Europe to fix separate problems that can cause engine fires and doors to fly open unexpectedly.The recalls will hit the company’s bottom line in the first quarter of this year. Ford said in a Wednesday filing with securities regulators that the recalls will cut pretax earnings by $295 million.The engine fire...Read More >>

Nevadans get more time to opt-in to more favorable net metering solar rules

March 29th, 2017

CARSON CITY — A proposal to allow eligible Nevada rooftop solar customers additional time to opt-in to grandfathered net metering rules and rates was approved Wednesday by the Public Utilities Commission.NV Energy and rooftop solar installation companies asked state utility regulators to allow eligible customers additional time to opt-in and build their systems if they choose to do so. Th...Read More >>

Nevada ranks near bottom for financial literacy

March 29th, 2017

In another reminder of Nevadans’ weak personal finances, a new report ranks the Silver State among the bottom of the pack for financial literacy.Personal finance website WalletHub on Wednesday released a report that ranked Nevada 42nd among the states and the District of Columbia, or 10th lowest in the country, for financial literacy.WalletHub gave Nevada low marks on a range of topics, i...Read More >>

MGM Resorts raises final steel beam for Massachusetts casino

March 29th, 2017

SPRINGFIELD, Mass. — MGM Resorts International has marked a milestone in construction of its western Massachusetts casino.Workers on Wednesday raised the final steel beam for the nearly $1 billion resort complex in downtown Springfield. The beam was placed atop what will become the hotel rotunda.MGM Springfield President Michael Mathis, Mayor Domenic Sarno, state gambling regulators and l...Read More >>

New dd’s Discounts store to open in Las Vegas

March 29th, 2017

A new dd’s Discounts store will open this summer at Desert Inn and Topaz roads.The store is slated to open around June, according to a statement from parent company Ross Stores. Each location hires about 50 new employees, a mix of full and part time.There are five dd’s stores in the Las Vegas Valley, according to its website.Earlier this month, the county issued a construction permi...Read More >>

Hakkasan Group CEO forecasts expansion, more revenue

March 28th, 2017

Hakkasan Group is generating $500 million in revenue from its night club and restaurant venues as its sets to boost its global party and dining presence by half over the next 36 months, CEO Neil Moffitt told a conference Monday.Hakkasan, which currently has about 60 venues globally, including at least a dozen in Las Vegas, such as Wet Republic and Hakkasan, plans to open another 30 over the nex...Read More >>

Grocery pickup service tested by Amazon in Seattle

March 28th, 2017

NEW YORK — Amazon is testing a grocery pickup service in Seattle.The AmazonFresh Pickup service is currently open only to Amazon employees. Eventually, members of Amazon’s $99-a-year Prime loyalty program will be able to order groceries online and drive to a pickup location, where crews will deliver items to the car.Amazon says orders will be ready in as little as 15 minutes after b...Read More >>

Nevada’s gaming win declines 4.5 percent in February

March 28th, 2017

What a difference one day can make.Nevada’s state gaming win of $945.6 million in February was down from a year ago in 18 of the 19 markets, off 4.5 percent from a year ago, the state Gaming Control Board reported Tuesday.February 2016 had one more day than last month because of Leap Year.Despite declines in every market except downtown Las Vegas, three-month trends were still holding ste...Read More >>

Nightclub and bar trends in focus at Las Vegas convention

March 27th, 2017

Bar owners better know their parsley from chervil as well as they know barley from wheat.Creative menus are becoming an ever more important factor in getting people out of their homes and into establishments for a night out and thus is a major theme at this year’s Nightclub and Bar Convention and Trade Show.“Food is crossing over in a big way in the bar industry,” said Thom Gr...Read More >>

Las Vegas’ McCarran airport traffic relatively flat in February, officials report

March 27th, 2017

Increases in international travel were offset with declines reported by Southwest Airlines and other domestic carriers, making for a relatively flat February at McCarran International Airport, the Clark County Department of Aviation reported Monday.More than 3.43 million airline passengers flew through the nation’s eighth-busiest airport last month, a narrow 0.3 percent decrease from Febr...Read More >>

Review-Journal readers share their vanity plates

March 25th, 2017

When Douglas Murphy decided to buy a vanity license plate in 1982, he hit a snag generations in the making. The Murphy family name proved too common for a simple plate.He spent weeks having a state employee friend run different combinations of his name through a computer to see what hadn’t been taken.He eventually settled on the plate he has to this day, AKAMURPH (also known as Murph).Mur...Read More >>

GameCo, a video game gambling machine maker, raising funds for expansion

March 25th, 2017

GameCo, the first U.S. maker of video game gambling machines (VGM), hopes to raise as much as $30 million in a third round of funding as it seeks to launch more games and expand into new markets.“We are just starting on our next round now with the target of raising $20 million to $30 million depending on market conditions,” said co-founder and chief executive officer Blaine Graboyes...Read More >>

Relationship with Dubai renewed with deal by MGM Resorts subsidiary

March 24th, 2017

Spanning 26 acres of beachfront property, the latest project by a subsidiary of MGM Resorts International won’t have slot machines or poker tables, but will boast 1,000 rooms, a “dazzling” theater and a snorkeling area.It will also be in Dubai — a Middle Eastern city the company knows all too well.Dubai’s Wasl Asset Management Group has brought in MGM Hospitality, ...Read More >>

One of Nevada’s first sports betting funds shines, then stumbles

March 24th, 2017

Chris Connelly, founder of one of the first sports betting mutual fund in the U.S., was killing it during 2016.His Contrarian Investments LLC was up 31 percent on December 18 compared with a 10 percent return for the Dow Jones over the same period. His bets on the National Football League and the National Basketball Association rocked.Then he had his Atlanta Falcons Super Bowl moment.With less ...Read More >>

Hiring rises in Nevada, 11 US states, new data show

March 24th, 2017

Nevada joins other Mountain region states with strong hiring trends in the latest data from the U.S. Department of Labor.In the past 12 months, job gains were strongest, in percentage terms, in Idaho, Utah and Nevada, all states in the Mountain region.Idaho has added 24,500 compared with a year earlier. Hiring has been strongest in construction, financial services, and in education and health c...Read More >>

Twitter explores subscription-based option for first time

March 24th, 2017

SAN FRANCISCO — Twitter Inc. is considering whether to build a premium version of its popular Tweetdeck interface aimed at professionals, the company said late Thursday, raising the possibility that it could collect subscription fees from some users for the first time.Like most other social media companies, Twitter since its founding 11 years ago has focused on building a huge user base f...Read More >>

Nevada gaming regulators OK gaming license for Siegel Slots & Suites

March 23rd, 2017

The Nevada Gaming Commission has unanimously approved a slots-only nonrestricted gaming license for a casino near Nellis Air Force Base formerly known as the Barcelona.The commission on Thursday approved licensing for Siegel Slots & Suites on East Craig Road at Nellis Boulevard.Fifth Street Gaming, operators of the Downtown Grand, and a previous overseer of the property, is the new licensee...Read More >>

Investment pro reflects on hot Las Vegas apartment market

March 23rd, 2017

In Las Vegas real estate, few aspects of the market are as heated today as apartments.Construction keeps ramping up, vacancy rates have dropped, rents keep rising, and landlords are paying more for buildings.And in the past few years, one person involved in some of the valley’s biggest apartment deals ever is Scott McClave.McClave is senior principal of acquisitions and finance at The Bas...Read More >>

Travelers, concerned about terrorism, won’t let it stop them

March 23rd, 2017

Turkey. France. Belgium. Now London. As yet another destination is hit by terror, travelers are sighing with dismay and thinking carefully about personal safety, even while saying the latest attack won’t keep them home.“I don’t want to be afraid, but I also have this extra layer of being on heightened alert,” said Nikki Stephens, 26, of Dallas, who’s planning her f...Read More >>

Owners of Juhl in downtown Las Vegas begin selling units

March 23rd, 2017

The investor group that owns the bulk of Juhl is gearing up to turn rentals into sales.KRE Capital, Dune Real Estate Partners and Northcap plan to start selling units at the downtown Las Vegas residential complex in late April, management announced Thursday.The group owns 306 of Juhl’s 341 units, having acquired them in 2013 as part of a bulk purchase of almost 1,300 condos in five Las Ve...Read More >>

Las Vegas trade show operators want more meeting rooms, technology

March 23rd, 2017

Representatives of four major trade shows told the Oversight Panel for Convention Facilities in Clark County about some of the features the Las Vegas Convention Center will need to keep their shows in Southern Nevada.Managers and executives with ConExpo-Con/Agg, the International Council of Shopping Centers, CES and the National Association of Broadcasters on Thursday offered their suggestions ...Read More >>

Alaska Airlines to retire Virgin America brand

March 23rd, 2017

DALLAS — After months of teasing, Alaska Airlines has bad news for loyal customers of Virgin America — their airline’s name is being dumped.Alaska announced late Wednesday that it will retire the Virgin brand, probably in 2019, adding that name to a list including Continental and US Airways that disappeared in the past decade.Launching a new airline takes lots of money and pat...Read More >>

Striking AT&T workers in California, Nevada return to work

March 23rd, 2017

AT&T Inc. said 17,000 workers in California and Nevada resumed work on Thursday, after going on a strike on Wednesday.The workers had alleged that the company violated contract terms by forcing employees to do work outside their areas of expertise.This is a developing story. Check back for updates.Read More >>

Las Vegas homebuilders see 34 percent sales rise in early 2017

March 22nd, 2017

Las Vegas homebuilders are selling far more houses this year compared to the beginning of 2016 but booking a much-smaller bump in prices, a new report shows.Builders closed 665 new-home sales in Clark County last month, bringing the year’s tally through February to 1,192. That’s up 34 percent from the same two-month period in 2016, according to Las Vegas housing tracker Home Builder...Read More >>

Developer plans apartment tower in place of 2 motels on Las Vegas Boulevard

March 22nd, 2017

Motel owner Ilan Gorodezki serves a stretch of Las Vegas Boulevard that, some might say, ranges from seedy to tacky.A strip club is across the street, abandoned buildings and vacant lots are short walks away, and a drive-thru wedding chapel is right nearby. But neighborhoods can change, and Gorodezki is gearing up for a towering overhaul to his part of the street.The Las Vegas Planning Commissi...Read More >>

Nevada company settles male sex-discrimination lawsuit

March 22nd, 2017

A Nevada company settled a male sex discrimination lawsuit brought forth by the U.S. Equal Employment Opportunity Commission, the commission announced Wednesday.The commission claims that Ultracare Las Vegas terminated an employee’s assignment because of his gender.Between 2010 to 2013, Ultracare Las Vegas provided Nevada Health Centers with ultrasound technicians.“Sex-role stereoty...Read More >>

Sears says ‘substantial doubt’ that it can stay in business

March 22nd, 2017

NEW YORK — Sears, once the monolith of American retail, says that there is “substantial doubt” that it will be able to keep its doors open.Company shares, which hit an all-time low last month, fell $1.12, or 12.31 percent, to close at $7.98.Sears has been a member of the retail dead pool for years, but until this week the company had not openly acknowledged its tenuous existen...Read More >>

17K AT&T workers in Nevada, California go on strike

March 22nd, 2017

NEW YORK — A union representing AT&T workers says about 17,000 employees in California and Nevada have gone on strike over a change in some of their job duties.The Communications Workers of America said they went on strike Wednesday morning. The union plans to file an unfair labor charge with the National Labor Relations Board.The workers install cable and phone service and work in ca...Read More >>