10 top business stories include Las Vegas shooting, Raiders in 2017

The year 2017 was another eventful one in business for Las Vegas.

While the Oct. 1 mass shooting was the top story, the Raiders’ stadium plans, Faraday’s exodus from Southern Nevada and Caesars’ emergence from bankruptcy were also notable events.

Major sales and acquisitions also garnered headlines. The Fontainebleau was sold, Wynn Resorts bought 38 acres on the site of the Alon project, and Penn National Gaming bought Pinnacle Entertainment.

Early in the year, there was the fatal crash at SpeedVegas — a story that reverberated throughout the year.

Here are the top 10 business stories for 2017 as voted upon by the business reporters and editors for the Las Vegas Review-Journal:

1. October 1st Strip shooting

A mass shooting that killed 58 people and injured more than 500 disrupted business at Mandalay Bay, where the gunman stayed and fired upon a crowd of concertgoers. MGM CEO Jim Murren said in November that bookings were returning to normal and forecast the casino operator’s Strip-wide revenue would be down only in the low- to mid-single digits during the fourth quarter.

2. Raiders move ahead with stadium plans

The Oakland Raiders forged ahead with plans to build a 65,000-seat venue that is within walking distance of south Strip hotel rooms. The $1.9 billion stadium will be home for the Raiders’ NFL games, UNLV games and also large special events. An estimated 3,000 construction workers will be on the site at the job’s peak.

3. Faraday Future abandons planned site of manufacturing plant

On July 10, electric car manufacturer Faraday Future walked away from its commitment to build a manufacturing site in North Las Vegas. Lawmakers approved a $335 million incentive package, including $215 million in tax breaks in 2015. In July, Faraday repaid the state $16,200 for the the only abatements the company received. Faraday Future still owns 930 acres of land in Apex.

4. Caesars Entertainment emerges from bankruptcy.

The exodus occurred after a 2-year odyssey through bankruptcy court. The company has since established a REIT and announced ambitious expansion plans, including a convention center on the Strip.

5. Fontainebleau finally sold, new owner calls work in progress Project Blue

The Fontainebleau sold in August for $600 million. New York developer Steve Witkoff and Miami investment firm New Valley bought the unfinished hotel from billionaire Carl Icahn, who acquired it out of bankruptcy during the recession for about $150 million. The new owners have a new name for the undertaking: Project Blue.

6. Wynn Resorts buys 38 acres on the site of Alon project

Casino developer Steve Wynn’s namesake company announced in December that it reached a deal to acquire about 38 acres of land across Las Vegas Boulevard from the Wynn Las Vegas for $336 million. The sale is expected to close in the first quarter of next year.

7. More Strip hotels join pay-for-parking bandwagon

The controversial practice of requiring patrons to pay for self and valet parking at Strip resorts continued to fester in 2017 with Caesars Entertainment and Wynn Resorts properties and The Cosmopolitan of Las Vegas joining originator, MGM Resorts International, to charge up to $25 a day to park. Critics vowed to stay away from casinos that charged for parking, but companies haven’t aren’t saying whether that’s had any effect on revenue.

8. Construction on Resorts World Las Vegas begins in earnest

After months of stalls and stops, construction at the Genting Group’s Asian-themed $4 billion, 3,000-room Resorts World Las Vegas resort on the Strip finally kicked into high gear in October. Executives said in the spring that they were close to seeing work on the 87 acres where the Stardust and Westward Ho once stood, but it wasn’t until fall that Genting hired W.A. Richardson Builders as the general contractor on what will be a three-year project.

9. Gaming industry consolidation

Casino operator Penn National Gaming Inc. said in December it would buy rival Pinnacle Entertainment Inc. in a deal valued at about $2.8 billion. As part of the largest U.S. gaming deal since 2013, Penn will let Boyd Gaming Corp. purchase four Pinnacle properties in Missouri, Indiana and Ohio for $575 million.

10. SpeedVegas crash brings lawsuits and an OSHA fine

A tragedy at the SpeedVegas exotic car driving attraction in February resulted in two deaths, an investigation by Nevada’s Office of Safety and Health Administration, lawsuits against the company and, in December, a filing for Chapter 11 bankruptcy protection. OSHA fined the company $12,000. After a rare involuntary bankruptcy filing in by creditors in August, the case was converted to a voluntary filing in December.

Local
Snow falls at Fremont Street Experince in Las Vegas
Snow falls at the Fremont Street Experience early Thursday, Feb. 21, 2019 in Las Vegas. (David Guzman/Las Vegas Review-Journal)
Snow in Summerlin
Snow in Summerlin on Thursday, Feb. 21, 2019. (Anastasia Hendrix/Las Vegas Review-Journal
Snow At Red Rock Casino
Early morning snow in Summerlin on Thursday, feb. 21, 2019. (Mat Luschek/Las Vegas Review-Journal)
Northwest Las Vegas sees heavy snow fall
Drivers on the 215 Beltway in northwest Las Vegas faced heavy snowfall on Thursday, Feb. 21, 2019. (David Guzman/Las Vegas Review-Journal)
Snow at Red Rock Casino and Resort.
Snow continues to fall Thursday morning in Summerlin. Heaviest snow west of 215.
Snow soccer in Las Vegas -VIDEO
Players enjoy a game of soccer during a snowstorm in the Anthem area east of Las Vegas on Wednesday, Feb. 20, 2019. (Mick Akers/Las Vegas Review-Journal)
Snow falls Wednesday evening in Las Vegas
Heavy snow began falling Wednesday evening in the southwestern part of the Las Vegas valley. (Mat Luschek/Review-Journal)
Snow falls on the Las Vegas Strip
Snow falls outside the T-Mobile Arena on the Las Vegas Strip as the Golden Knights play the Boston Bruins. (Heidi Fang/Las Vegas Review-Journal)
Snow near Deer Springs and Buffalo
Snow near Deer Springs Way and Buffalo Drive in the northwest Las Vegas Valley on Feb. 20, 2019.(Cassie Soto/Las Vegas Review-Journal)
Snow in Las Vegas at Red Rock Casino Resort
A winter storm brings snow to Red Rock Casino Resort in Summerlin on Feb. 20, 2019. (David Guzman/Las Vegas Review-Journal)
February 20 snow in Centennial Hills (Part 2)
Snowstorm in the far northwest valley. (Erik Verduzco/Las Vegas Review-Journal)
February 20 snow in Centennial Hills
Snowstorm in the far northwest valley. (Erik Verduzco/Las Vegas Review-Journal)
NDOT prepares for snow and ice from winter storm
The Nevada Department of Transportation gears up to keep roads open when snow and ice hit the Las Vegas valley.
Developer gets approval to build homes at Bonnie Springs
The Clark County Planning Commission has approved a plan to build 20 homes on the site of Bonnie Springs Ranch. (Michael Quine/Las Vegas Review-Journal)
Working cats at St. John the Baptist Church
Parish councilmember John Koutsulis talks about the two cats St. John the Baptist Greek Orthodox Church have adopted as part of a working cats program.
Lee Canyon snow makes skiers smile
Skiers and snow boarders took advantage of the Presidents Day holiday and the recent snowfall at Lee Canyon, outside of Las Vegas. (Mat Luschek/Las Vegas Review-Journal)
Mount Charleston gets fresh blanket of snow
A winter storm drops nearly four inches of fresh snow on Sunday, February 17, 2019 at Mount Charleston outside Las Vegas. (Michael Quine/Las Vegas Review-Journal)
Snow in the Las Vegas Valley
Snow accumulated in the Las Vegas Valley for the first time in more than a decade, with snow falling mostly in the western, northwestern and southern areas. (Bizuayehu Tesfaye/Las Vegas Review Journal) @bizutesfaye
Snow at US 95 and Lee Canyon Road
Passers-by pulled off Lee Canyon Road northwest of Las Vegas Monday to play in the fresh snow. (Mat Luschek/Las Vegas Review-Journal)
Road truck on an empty I-15
Snow and ice contributed to the closure of Interstate 15 near Primm. Jim Prather/Las Vegas Review-Journal
I-15 traffic diverted at St. Rose Parkway
The Nevada Highway Patrol has closed Interstate 15 in both directions between south Las Vegas and the California state line due to icy road conditions, Monday, Feb. 18, 2019. (Jim Prather/Las Vegas Review-Journal)
Ice on roadway shuts down I-15 south of Las Vegas
An overnight snowstorm left an icy roadway, causing the Nevada Highway Patrol to shut down Interstate 15 south of Las Vegas to the California state line. (Jim Prather/Las Vegas Review-Journal)
I-15 closed at St. Rose Parkway
Ice on Interstate 15 caused the Nevada Highway Patrol to close the highway from St. Rose Parkway in south Las Vegas to the California state line on Monday, Feb. 18, 2019. (Jim Prather/Las Vegas Review-Journal)
Driving a snowy Sunday night in Summerlin
Several inches of snow have fallen in Summerlin on Sunday, Feb. 17, 2019. This shows street conditions between Charleston and Far Hills in Summerlin. (Jim Prather/Las Vegas Review-Journal)
Winter wonderland at Summerlin park
A snowstorm hit Fox Hill Park in Summerlin on Sunday, Feb. 17, 2019. (Jim Prather/Las Vegas Review-Journal)
February snowstorm in western Las Vegas
A snowstorm hit Summerlin and parts of western Las Vegas on Sunday, Feb. 17, 2019. (Jim Prather/Las Vegas Review-Journal)
Snow in Summerlin
Snow near Far Hills and Fox Hill Drive.
Valentine's Day Brings Wet Weather To Las Vegas
Parts of the Las Vegas Valley received more than an inch of rain by 1 p.m. Thursday, triggering numerous vehicle accidents, sparking flooding and prompting at least two swift-water rescues in flood channels. (Mat Luschek/Review-Journal)
Artist sends love from the Welcome to Fabulous Las Vegas sign
Artist Chris O'Rourke has a giant heart mounted in the back of pickup positioned for photos at the Welcome to Fabulous Las Vegas sign on the Las Vegas Strip on Valentine's Day 2019. (Mat Luschek/Las Vegas Review-Journal)
Rain doesn't dampen weddings on Valentine's Day
Charolette Richards, owner of A Little White Wedding Chapel who has been performing weddings for 60 years, started Valentine’s Day 2019 by performing a wdding for Las Vegas couple David and Elaine Cook at the chapel’s Tunnel of Love drive-thru. Richards has over 100 weddings booked for Valentine’s Day. (Michael Quine/Las Vegas Review-Journal)
It is a rainy Valentine's Day in Las Vegas - Video
These scenes come from the Las Vegas Stadium LiveCam (Las Vegas Review-Journal)
Tony Sanchez wraps up the UNLV season
UNLV football coach Tony Sanchez wraps up the season. Video by Mark Anderson/Las Vegas Review-Journal
Business
Auto repair shortage affects Las Vegas
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Franchising industry booming
Experts say Las Vegas is a hotbed for the franchise industry.
Africa Love owner talks about his store in Las Vegas
Mara Diakhate, owner of Africa Love, gift and decor store, talks about his store in Las Vegas. (Bizuayehu Tesfaye/ Las Vegas Review-Journal) @bizutesfaye
Developer gets approval to build homes at Bonnie Springs
The Clark County Planning Commission has approved a plan to build 20 homes on the site of Bonnie Springs Ranch. (Michael Quine/Las Vegas Review-Journal)
Dig This opens new location In Las Vegas
Remember when you were a kid and played with construction toys in the sand box? Dig This Las Vegas has the same idea, except instead of toy bulldozers, you get to play with the real thing. (Mat Luschek/Review-Journal)
Town Square developer Jim Stuart building again in Las Vegas
Las Vegas’ real estate bubble took developers on a wild ride, something Jim Stuart knows all too well. (Las Vegas Review-Journal)
Salon opens at Veterans Village
T.H.E. Salon, owned by Nicole Christie, celebrated their opening at the Veterans Village with a ribbon cutting ceremony.
Southwest Airlines considering Las Vegas-Hawaii flights
Southwest Airlines CEO Gary Kelly says the airline is "very focused" on Hawaii. Hawaiians have a strong presence in Las Vegas.The city’s unofficial status is “Hawaii’s ninth island.” In 2018, at least 2,958 people from Hawaii moved to Nevada. Of those, 88.7 percent moved into Clark County, according to driver license surrender data. According to the Las Vegas Convention and Visitors Authority, 310,249 people came to Las Vegas from Hawaii in 2018.
Fewer Nevadans are celebrating Valentine's Day
Fewer Nevadans are celebrating Valentine's Day. About 1.2 million Nevadans are expected to celebrate this year, a 5 percent drop from 2018. A growing number of people consider Valentine’s Day over-commercialized. Others weren’t interested in the holiday or had nobody to celebrate with. But spending is expected to rise. Those who do celebrate are buying for more people. The average American is expected to spend about $162 this year for Valentine’s Day, a 57 percent jump from a decade prior. Katherine Cullen, director of industry and consumer insights at NRF
Foreclosures of mansions in Las Vegas
Las Vegas was ground zero for America's foreclosure crisis after the housing bubble burst. (Eli Segall/Las Vegas Review-Journal)
Rick Helfenbein talks about the impact of tariffs on the clothing industry
MAGIC fashion convention showcases men's clothing trends
The MAGIC fashion convention has come to Las Vegas at the Mandalay Bay Convention Center to showcase some of the hottest clothing trends for men. (Nathan Asselin/Las Vegas Review-Journal)
Allegiant Air flight attendants learn how to handle a water landing
Field instructor Ashleigh Markel talks about training prospective flight attendants for Allegiant Air getting live training with a raft for a water landing at the Heritage Park Aquatic Complex in Henderson on Monday. (John Hornberg/Las Vegas Review-Journal)
Smith & Wollensky CEO Michael Feighery speaks
Smith & Wollensky CEO Michael Feighery speaks about the new Smith & Wollensky restaurant coming to the Grand Canal Shoppes at The Venetian in Las Vegas.
Smith & Wollensky CEO Michael Feighery speaks
Smith & Wollensky CEO Michael Feighery speaks about the new Smith & Wollensky restaurant coming to the Grand Canal Shoppes at The Venetian in Las Vegas.
Smith & Wollensky CEO Michael Feighery talks about Las Vegas return
Michael Feighery, CEO of Smith & Wollensky Restaurant Group, discusses the restaurant's upcoming return to the Las Vegas Strip.
Apartments to Come to Hughes Center
Developer Eric Cohen discusses his current building project at the Hughes Center office park in Las Vegas, Thursday, Jan. 31, 2019. Caroline Brehman/Las Vegas Review-Journal
Stratosphere to rebrand to The STRAT
The Stratosphere, a 1,150-foot-tall property in Las Vegas will be renamed The STRAT Hotel, Casino and Skypod.
Local designers’ picks for the Las Vegas Market
The trends that local interior designers are noticing at the Las Vegas Market this year. (Rachel Aston/Las Vegas Review-Journal)
Trends in bath products at Las Vegas Market
Camille Herd, the showroom manager for European Bath Kitchen Tile & Stone, talks about the popularity of free-standing bath tubs. (Rachel Aston/Las Vegas Review-Journal) @rookie__rae
Kitchen trends at Las Vegas Winter Market
Las Vegas Winter Market displayed kitchen trends that mirror common dining accessories at Strip eateries. (Rachel Aston/Las Vegas Review-Journal) @rookie__rae
Emerging trends in gifts at Las Vegas Market
Julie Smith Vincenti, curator for the First Look showroom tour on gifts and lifestyle, talks about the emerging trends in those categories for this season. (Rachel Aston/Las Vegas Review-Journal) @rookie__rae
Las Vegas house prices are rising
Southern Nevada home prices were up 12 percent year-over-year in November.
Caesars Republic Scottsdale
Caesars Entertainment Corp. is building its first non-gaming hotel in the United States in Scottsdale, Arizona. (Caesars Entertainment Corp.)
Interior designer Mikel Welch talks about trends for Las Vegas Market
Interior designer Mikel Welch, who also is the on-camera designer for TLC’s Trading Spaces, discusses the trends he sees for the 2019 Las Vegas Winter Market. (Rachel Aston/Las Vegas Review-Journal) @rookie__rae
SHOT Show 2019: MEGGITT Virtual Training
MEGGIT showcases its virtual training system at SHOT Show 2019 in Las Vegas.
MGM delivers 700 meals to TSA workers at McCarran
Chefs at Garde Manger at Mandalay Bay provided 700 meals to federal employees who are affected by the government shutdown. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
SHOT Show 2019: A "nonsemi-automatic” weapon
Brandon Dunham of Nevada-based Franklin Armory show off the company’s new rifle prototype it calls a “nonsemi-automatic” weapon. The gun does not use a gas system to fire.
Las Vegas-based concrete repair company knows how to beat the heat
ART Concrete Solutions, a Las Vegas concrete-repair firm, addresses the challenges of construction in the extreme heat and sun of Las Vegas. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Las Vegas based company brings color to concrete in the desert heat
Semco Modern Seamless Surface, a Las Vegas surface engineering company, knows how to put color in concrete construction in the Vegas heat. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
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