RENO — Shares of International Game Technology hit a 52-week low Wednesday, the same day the company said job cuts will cost up to $21 million in one-time charges during the first quarter of the fiscal year.
Sneaker-clad tourists aren’t the only ones to stop making tracks to Las Vegas casinos. Wall Street-types in wingtips have also tired of losing money on the Strip.
A panel of casino company chief financial officers, reflecting a cross section of the gaming industry, on Wednesday painted a bleak picture for businesses looking to raise money over the next few years.
A group of local businesspeople is suing a subsidiary of KB Home for $60 million, claiming the homebuilder reneged on promises to install streets, sewer and utility connections needed for a commercial development in Henderson.
The trustee for USA Capital is seeking damages from three accounting firms, including Big Four giant Deloitte & Touche, which audited the hard-money lender before it collapsed with $960 million in 6,000 investors’ money.
