Nevada’s film industry is hurting because other states are offering tax credits or rebates to production companies that film within their borders. Charlie Geocaris, head of the Nevada Film Office, said New Mexico is Nevada’s No. 1 competitor and offers a 25 percent transferable tax credit.
Thanks to booming results from Macau and at the company’s newly opened $5.7 billion resort in Singapore, Las Vegas Sands reversed a net loss from a year ago. The casino operator, which owns The Venetian and Palazzo on the Strip, said its net income for the period that ended Sept. 30 was $168 million, or earnings of 21 cents per share.
After three turbulent years for Strip resorts, hopes for any recovery next year are on hold, with analysts predicting overall revenues will range between a 1 percent decline to 4 percent growth next year.
The collapse in housing prices is not simply a blip in the market, but a fundamental resetting of values underlined by high unemployment, slower income growth and a more conservative consumer who will be more likely to rent than buy, an expert for Brookings’ Metropolitan Policy Program says.