Las Vegas house prices are rising Southern Nevada prices were up 12.8 percent year-over-year in October. Nationally, home prices were up 5.5 percent year-over-year . Buyers are pulling back. Around 7,000 Las Vegas houses were on the market without offers at the end of November, up 54 percent year-over-year. Las Vegas home prices have been rising at one of the fastest rates in the country
Lucky Dragon was designed to cater to the Asian-American and Asian immigrant crowd in Las Vegas and West Coast cities Lucky Dragon was positioned to become that community’s locals casino The Dec. 2, 2016, launch of the first direct flight between Beijing and Las Vegas right before the official opening gave the casino another potential customer base. But things didn’t go according to plan The Review-Journal investigated signs of financial struggles in December 2017 The company filed for bankruptcy in February 2018 And closed in October Now a chain-link fence surrounds the property
Lucky Dragon was designed to cater to the Asian-American and Asian immigrant crowd in Las Vegas and West Coast cities Lucky Dragon was positioned to become that community’s locals casino The Dec. 2, 2016, launch of the first direct flight between Beijing and Las Vegas right before the official opening gave the casino another potential customer base. But things didn’t go according to plan The Review-Journal investigated signs of financial struggles in December 2017 The company filed for bankruptcy in February 2018 Lucky Dragon has been losing roughly $200,000 per month throughout its bankruptcy case, according to court papers
Southern Nevada home prices were up 13 percent year-over-year in June. Las Vegas led price gains in June, according to the S&P CoreLogic Case-Shiller index . Seattle and San Francisco came in second and third, respectively. Locally, the median sales price of previously owned single-family homes in July was $290,000, up 11.5 percent from a year earlier.
A man and a woman were killed early Tuesday morning after their car was struck by another vehicle on Interstate 11, south of Las Vegas. The crash was reported at 2:18 a.m. after a BMW crashed into the back of a sedan that was stopped on the side of the highway. NHP troopers believe the driver of the BMW was impaired. A child, under the age of 5, was in a car seat in the back seat. Both were taken to UMC and in stable condition. A female passenger from the sedan that was struck by the BMW was taken to St. Rose Dominican Hospital, Sienna campus, where she is in stable condition, This is the second fatal crash on the new stretch of highway, which opened less than a month ago.
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
CEO Rossi Ralenkotter is the third-highest-paid public official in the state He has a pay and benefits package valued at $863,000 annually. Ralenkotter does not have an employment contract He announced his retirement in mid June, amid a scandal over airline gift cards LVCVA bought $90,000 in Southwest Airline gift cards between 2012 and 2017. Now auditors can’t account for more than $50,000 of the cards. Ralenkotter and his family used $16,207 in gift cards on 56 trips. Brig Lawson, the senior director of business partnerships, was responsible for buying and distributing the cards. He recently resigned. Ralenkotter’s retirement settlement package could cost taxpayers thousands of dollars.
SLS Las Vegas used to be the Sahara, which opened in 1952 as a $5.5 million, Moroccan-themed resort 1959: A convention hall on the north side of the Sahara is added as well as a 127-foot sign. 1959: Comedian Don Rickles makes the first of many appearances in the Casbar lounge. George Burns also appears in the Casbar lounge. 1961: Del Webb acquires the Sahara through a stock transaction involving 1.5 million shares in the Del Webb Corp. valued at about $12 million. The Sahara adds a $5 million, 24-story skyscraper with 400 rooms, bringing its total to more than 800. 1964: Stan Irwin, the Sahara entertainment director, brings The Beatles to Las Vegas. They perform at the Las Vegas Convention Center and stay at the hotel. 1982: Paul Lowden buys the Sahara for $50 million. 1988: A 26-story tower is added, bringing the room total to 1,500. Lowden expands the casino area and opens a new race and sports book. 1995: Bill Bennett buys the Sahara for $193 million, including 39 acres west of the Strip. 2007: SBE Entertainment and Stockbridge Real Estate buy the Sahara for between $300 million and $400 million. 2011: The Sahara closes 2017: The Meruelo Group announces it had agreed to buy the struggling SLS Las Vegas from Stockbridge Capital Group
Unions representing Las Vegas casino workers could call a citywide strike as early as June 1 if they do not reach a deal with employers. Las Vegas casino strikes have been avoided in most cases. The last citywide strike was in 1984. It affected 32 resorts and lasted 67 days. A month-long strike in June could cost MGM Resorts and Caesars as much as $300 million in cash flow, according to a union report In 1984, a union strike fund helped support workers during the period they picketed.
South Point is among few casino operators that still offer “cheap food, good odds,” says Anthony Curtis, a publisher of books on Las Vegas. The resort’s video poker slots return 99%, compared with about 96% or 97% on the Strip, according to Curtis. “Gaughan knows that you get them in the door with food and liquor and entertainment and you make a few bucks when they gamble,” says Ted Newkirk, founder of Access Vegas.
South Point is unique among Las Vegas resorts for its 4,600-seat equestrian arena.
“The secret is you have to find people that want to play [on the casino floor],” says Michael Gaughan, owner of South Point
