Former President George H.W. Bush has died at the age of 94. He died Friday night in Houston, about eight months after the death of his wife, Barbara.
Las Vegas is on track to become the entertainment capital of the world, according to analyst Jeremy Aguero. About 6 percent of all tourists come to Las Vegas for a special event such as a sporting event. Overall, existing and future sports teams are expected to add $636 million to the local economy.
Las Vegas Councilman Bob Coffin said Wednesday he will not seek re-election. Coffin, 76, decided he will not run for a third, final term. The long-time former state legislator cited a troublesome back injury. I really hope that people running for this office have some experience dealing with pressure … because it is intense. The primary election is April 2. The general election is June 11.
MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.
Las Vegas house prices are rising Southern Nevada prices were up 13.5 percent year-over-year in September. Nationally, home prices were up 5.5 percent year-over-year in September. Buyers are pulling back. More than 6,900 Las Vegas houses were on the market without offers at the end of October, up 44 percent year-over-year. Las Vegas home prices have been rising at one of the fastest rates in the country
Las Vegas house prices are rising Southern Nevada prices were up 13.5 percent year-over-year in September. Nationally, home prices were up 5.5 percent year-over-year in September. Buyers are pulling back. More than 6,900 Las Vegas houses were on the market without offers at the end of October, up 44 percent year-over-year. Las Vegas home prices have been rising at one of the fastest rates in the country
Las Vegas house prices are rising Southern Nevada prices were up 13.5 percent year-over-year in September. Nationally, home prices were up 5.5 percent year-over-year in September. Buyers are pulling back. More than 6,900 Las Vegas houses were on the market without offers at the end of October, up 44 percent year-over-year. Las Vegas home prices have been rising at one of the fastest rates in the country
Developer Lance Bradford plans to build a 300,000-square-foot retail and office project in Henderson. (Eli Segall/Las Vegas Review-Journal)
Home construction in rural areas outside Las Vegas is on the upswing. Developers are building and selling houses in such places as Pahrump, Indian Springs and Logandale. Many of the projects underway were started during the mid-2000s bubble and sat dormant after the economy crashed. The burst of activity comes as Las Vegas home prices rise fastest among major U.S. cities. “I think it’s a matter of addressing affordability, giving people more house for less money, and it’s really hard to do that in Vegas,” said Robb Beville, Nevada division president of Century Communities
About 116 million people nationwide are expected to shop on Black Friday. The National Retail Federation, the nation’s largest retail trade group, is expecting holiday retail sales in November and December to increase as much as 4.8 percent over 2017 for a total of $720.89 billion. That excludes automobiles, gasoline and restaurants. The projected sales growth marks a slowdown from last year’s 5.3 percent, which was the largest gain since 2010.
Before the economy crashed and Station Casinos went bankrupt, the company loaded up on land.
WalletHub surveyed nearly 7,000 deals from 35 of the biggest U.S. retailers to find the best places to shop on Black Friday, ignoring retailers that lack a Las Vegas-area store. J.C. Penney ranked No. 1 with an average discount of 65.1 percent No. 2 was Stage with a 62.1 percent average discount. Stage has one local store in Mesquite. No. 3 was Kohl’s with a 60.8 percent average discount No. 4 was New York & Co. with 54.52 percent. This retailer has three stores in the Las Vegas area. No. 5 was Payless ShoeSource with 50.34 percent.
NV Energy sets the retail sales price of power to consumers, with the approval of the Nevada Public Utilities Commission. Then it manages the power lines that deliver the electricity to homes and businesses. Six companies have exited NV Energy, starting with Barrick Gold Corp. in 2005.
But they’ve had to pay an exit fee. The fee is to negate unexpected costs for NV Energy’s remaining customers Now those companies buy their energy elsewhere. Options range from solar facilities to independent power producers.
Photo by Chase Stevens Photo by Heidi Fang Photo by Caroline Brehman Photo by Chase Stevens Photo by Caroline Brehman Photo by Benjamin Hager Photo by Erik Verduzco Photo by Rachel Aston Photo by K.M. Cannon Photo by Michael Quine
Investors have bought four mostly empty buildings at Coronado Canyons for $12.25 million. The Nigro family and brokerage IREPLV plans to turn their section of the Henderson retail complex into a medical office park. Their buildings went into foreclosure during the recession after Coronado Canyons’ construction lender was shut down. It was one of countless real estate projects around the valley that ran into steep problems after the economy crashed.
Federal law makes many banks hesitant to work with marijuana businesses. That leaves many business owners to deal solely with cash. Many licensed marijuana businesses remain unbanked.
UNLV coach Marvin Menzies hopes to improve the record to 2-1 Bryce Jackson’s shooting helped key Tuesday’s win over UC Riverside Oakland will present a challenge inside to Mbacke Diong Shakur Juiston leads the Rebels with nine points per game Kris Clyburn hopes to drive right past Oakland
An obscure company called Jasmine Development bought 64 acres in Henderson for $19 million and laid out plans for a data center project. Design, LLC, a subsidiary of Google, received $25 million in tax abatements to build the project. Design is slated to invest at least $600 million over the next decade. The data center is slated to provide about 50 jobs with an average salary of $65,000.
Developer Jonathan Fore has sold Lotus, a Chinatown-area apartment complex, for $76.7 million. The 295-unit luxury property is a mile west of the Strip and opened this year. It features a poolside DJ booth, karaoke room and other amenities. Las Vegas’ apartment market has heated up in recent years with rising rents, lucrative investor deals and increased construction.
Legal U.S. dispensaries are expected to ring up between $8 billion and $10 billion in medical and recreational sales this year. That’s an increase of as much as 66 percent compared with 2017. Sales are expected to more than double to $22 billion by 2022 as more states legalize marijuana, according to Marijuana Business Daily. Nevada sales have beaten state expectations and are also expected to roughly double by 2022 to $1 billion, according a report by Canaccord Genuity.
Greg Zanis has placed 12 cross memorials near the famed Welcome to Las Vegas sign, in honor of the victims of the Thousand Oaks shooting in Southern California. Telemachus “Tel” Orfanos, who survived the October 1 shooting in Las Vegas, was killed just over a year later at the Borderline Bar and Grill.
A San Francisco firm has bought three more office buildings in Henderson. JMA Ventures acquired the buildings near Green Valley Ranch Resort for $34 million. The seller, American Nevada Co., has unloaded more than 1 million square feet of commercial real estate the past few years. JMA has been an active buyer, taking nine or 10 office buildings in Henderson.
Billy Stojack, 71, was a mainstay at the Las Vegas Veterans Day Parade. The retired firefighter and late Navy SEAL died in 2017, two days before Veterans Day. This year, his adult children established the Billy Stojack Memorial Fund in his honor. Each year, they will honor a veteran in their father’s memory.
Las Vegas has a long history of developers pitching massive projects and never building them. Ideas that have come and gone include megaresorts, stadiums and condo towers. Current stalled ideas include a 27-acre arena and hotel project on the Strip and a 130-acre extreme sports park near Town Square. More than $3.5 billion worth of relatively new projects in Las Vegas are stuck on the drawing board or showing little progress.
Las Vegas apartment rents are climbing at one of the fastest rates in the country. The average asking rent is $1,055, up 25 percent since early 2013, according to Reis Inc. Apartment complexes are also selling fast, and at rising prices. Buyers often plan to renovate the property and boost the rents.
UNLV coach Marvin Menzies is staying with his building plan Former Clark star Trey Woodbury is one of the newcomers counted on But the Rebels will rely mostly on seniors such as Kris Clyburn Point guard Noah Robotham brings valuable experience to UNLV Shakur Juiston hopes to get the program pointed upward
Previewing the Mountain West basketball season Caleb Martin, UNR hope to make another deep NCAA Tourney run San Diego State is the defending MW tournament champion Anthony Mathis leads a talented New Mexico team Boise State coach Leon Rice could have another contender Shakur Juiston averaged a double-double for UNLV
Las Vegas house prices are rising The median sales price of previously owned single-family homes was $295,025 in October. That’s down 1.7% from September but still up 12.2% from October 2017 6,919 houses were on the market without offers at the end of October. That’s up 12.5% from September and 44.3% from a year earlier Source: Greater Las Vegas Association of Realtors
There is some strange new art in downtown Las Vegas. Lyft’s Art Park merges the efficient with the artful. (Janna Karel/Las Vegas Review-Journal)
The Krausz Cos. and WG Group bought a strip mall and an office park in Las Vegas for nearly $80 million total. They acquired a portion of Tropicana Beltway Center in the southwest valley for $59 million. They also acquired the Westbay office complex in the Las Vegas Medical District. The buyers are former owners of The Gramercy, a once-mothballed mixed-use project in the Las Vegas suburbs. They sold The Gramercy in phases for more than $100 million.