Officer resigns from Reno slot giant

Maureen Mullarkey has officially submitted her resignation as executive vice president, treasurer and chief financial officer of Reno-based International Game Technology, the company said Monday.

Mullarkey announced her intent to retire in February, and will continue to work for the slot machine and casino systems maker in a transitional, nonexecutive capacity until her contract expires early next year, the company said.

IGT’s board of directors appointed Daniel Siciliano as treasurer and chief accounting officer. He will serve as principal financial officer until the company finds a replacement for Mullarkey.


Union push adds security officers

The move to unionize more workers at Atlantic City’s casinos is expanding to include security officers.

Guards at Bally’s Atlantic City voted Sunday to join a union which has announced plans to organize about 2,500 workers at all 11 of the city’s casinos. The drive comes as the United Auto Workers union also is trying to organize dealers at each casino here.

By a vote of 151-71, security workers voted to join the Security, Police and Fire Professionals of America.


Oil prices jump as cyclone nears gulf

Oil futures rose more than $1 a barrel Monday as a cyclone bore down on the Persian Gulf, even as retail gasoline prices continued their slow retreat from their recent highs.

Concerns about refinery capacity also supported oil prices.

The average national price of a gallon of gasoline at the pump dipped to $3.158 Monday, down 0.6 cents overnight and off 6.9 cents from its May 24 high, AAA and the Oil Price Information Service reported.

Light, sweet crude for July delivery, however, rose $1.13 to settle at $66.21 a barrel on the New York Mercantile Exchange. Gasoline futures for July fell 0.66 cents to settle at $2.238 a gallon on the Nymex.


China stock market dip exceeds 8 percent

China’s volatile stock market took another beating Monday, with the Shanghai composite index plunging more than 8 percent. It was the second-biggest drop in a decade after an 8.8 percent decline in late February helped trigger a global sell-off.

Stock markets in Asia largely shrugged at the latest rout in Chinese shares, suggesting that investors overseas don’t see the decline as a bad omen for the nation’s booming economy. Hong Kong’s Hang Seng index was in positive territory.

The Shanghai composite index has tumbled more than 15 percent since Wednesday, when the central government tripled its tax on stock trades to curb rampant speculation. Yet even after Monday, the Shanghai index is still up 37 percent for the year, on top of a 130 percent increase in 2006.

PartyGaming talks with Justice officials

PartyGaming Plc, the world’s biggest Internet poker company, said it has held discussions with the U.S. Department of Justice relating to its activities prior to October last year when the country outlawed Internet gambling.

The Gibraltar-based company is “voluntarily” responding to a request for information from the U.S. Attorney’s Office for the southern district of New York, PartyGaming said in a statement, adding that it’s too early to say what the outcome will be.

Online gambling industry executives were arrested in the United States last year after the country’s government cracked down on Internet betting. David Carruthers, then chief executive officer of Betonsports Plc, was detained in July. Peter Dicks was arrested in September, when he was chairman of Sportingbet Plc.


Music, tech searches may bring spyware

Search terms related to music and technology are most likely to return sites with spyware and other malicious code, a new study finds.

Some 42 percent of the results using the term “screensavers,” for example, led to sites flagged with a “red” warning or a cautionary “yellow” by Santa Clara, Calif.-based McAfee’s SiteAdvisor service. Other keywords McAfee deemed risky include names of file-sharing software — “BearShare,” “LimeWire” and “Kazaa.”


Interest rates decline in Treasury bill auction

Interest rates on short-term Treasury bills fell in Monday’s auction with rates on six-month bills dropping to the lowest level in three weeks.

The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.71 percent, down from 4.78 percent last week. Another $14 billion in six-month bills was auctioned at a discount rate of 4.79 percent, down from 4.805 percent last week.


Bond prices rise amid financial data dearth

U.S. government bonds Monday made the most of a light data session to recoup some of the previous week’s losses, with the longer-dated issues the main beneficiaries.

At 5 p.m. EDT, the 10-year Treasury note was up $1.88 per $1,000 in face value, or 0.19 points, from its level at 5 p.m. Friday. Its yield, which moves in the opposite direction, fell to 4.93 percent from 4.96 percent.

A Walk Through Circus Circus
It only takes a short walk through Circus Circus to realize it attracts a demographic like no other casino on the Strip: families with young children. (Todd Prince/Las Vegas Review-Journal)
Morphy Auctions, a vintage slot machines seller, wants gaming license
Vice president Don Grimmer talks about Morphy Auctions at the company's warehouse located at 4520 Arville Street in Las Vegas on Thursday, Aug. 16, 2018. (Rick Velotta/Las Vegas Review-Journal)
Nevada's venture capital money doesn't stay in state
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)
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
Caesars Forum Meeting Center
Caesars broke ground Monday on its $375 million Caesars Forum Meeting Center (convention center) just east of the High Roller observation wheel. (Caesars Entertainment)
Technology reshapes the pawn shop industry
Devin Battersby attaches a black-colored device to the back of her iPhone and snaps several of the inside and outside of a Louis Vuitton wallet. The device, installed with artificial intelligence capabilities, analyzes the images using a patented microscopic technology. Within a few minutes, Battersby receives an answer on her app. The designer item is authentic.
Recreational marijuana has been legal in Nevada for one year
Exhale Nevada CEO Pete Findley talks about the one year anniversary of the legalization of recreational marijuana in Nevada. (K.M. Cannon/Las Vegas Review-Journal)
Young adults aren't saving for retirement
Financial advisors talk about saving trends among young adults. (Bailey Schulz/Las Vegas Review-Journal)
President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
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