In Brief

Reduced expenses help boost earnings for Herbst Gaming

Herbst Gaming LLC said its third-quarter income rose sharply from a year ago, helped by cost-cutting.

In a Monday filing with the Securities and Exchange Commission, Herbst Gaming said it earned $3.3 million in the three months ended Sept. 30, compared with income of $385,000 a year earlier. A $9.1 decrease in operating expenses helped the company improve its results. The company also said it reduced payroll and related expenses by $3.4 million, partly because of layoffs executed in the fourth quarter of 2009.

Revenue fell 9.5 percent, to $42.9 million from $47.4 million.

Herbst Gaming LLC is the company left after a judge approved a bankruptcy reorganization plan in which Herbst brothers Ed, Tim and Troy ceded ownership and control of the casino and slot machine route operation they’d founded and built.

The bankruptcy reorganization wiped $1.1 billion in debt off the books but left a consortium of lenders, including a Connecticut-based hedge fund, owning the business.

Grand Café restaurants will return at five Station casinos

Station Casinos Inc. on Thursday said it would bring back its Grand Café restaurants to five of its properties replacing Coco’s Bakery Restaurants less than two years after the company made the switch to a national chain.

The first Grand Café will open on Dec. 27 at Palace Station followed by Sunset Station in mid-January. The other openings — Boulder Station, Santa Fe Station and Texas Station — were expected to be complete by summer 2011.

Station Casinos Chief Operating Officer Kevin Kelley said reopening five Grand Café’s will cost about $3 million for capital improvements and training.

The properties had been home to the Grand Café brand for 5 years, before Station Casinos began replacing them with Coco’s in July 2009. All five remodels were finished by Dec. 1, 2009.

Kelly said Coco’s employees will be given priority for job interviews at the Grand Cafés. Coco’s employs about 150 people at its five restaurants within Station Casinos’ properties. He said the company expects to hire 150 more employees.

People may apply for jobs at the cafés online at


Teamsters face investigation, credit-card misuse accusations

Nevada’s largest Teamsters union is facing an internal investigation amid allegations of political retaliation and misuse of credit cards.

Board members of the long-troubled Las Vegas local have accused each other of spending union dollars on gasoline and other personal expenses and gifting credit cards to allies.

Members also complained that their employment had been threatened for refusing to pledge their support to the board’s leader in future elections.

Local Union 631 represents more than 5,500 convention workers, trash collectors and United Parcel Service drivers in Las Vegas.

James P. Hoffa, president of the International Brotherhood of Teamsters, sent a letter to the local this month that detailed the allegations and advised members that his watchdogs could take over in December.

A hearing is scheduled Dec. 13 and 14 in Las Vegas. The outcome will determine whether the union will be placed under emergency supervision, or trusteeship, for the second time since 2000.


Thirty-year mortgage rates climb higher during week

Any borrowers who were betting that mortgage rates would fall even further lost out this week. The best rates may now be behind them.

The average rate on a 30-year fixed mortgage jumped to 4.39 percent from 4.17 percent, mortgage buyer Freddie Mac said Thursday. That was the lowest level on records dating back to 1971.

The 15-year loan, a popular refinance option, climbed to 3.76 percent from 3.57 percent, the lowest level since that survey began in 1991.

The jump in rates has rippled through the mortgage market. The number of people applying for mortgages slid last week, the Mortgage Bankers Association said.

Apartment complexes selling fast in Las Vegas
Las Vegas’ apartment vacancy rate is among the smallest in the country, and rents are climbing faster than the national average. (LVRJ)
Aristocrat Opens $45M Campus In Summerlin
Aristocrat Technologies Chairman Ian Blackburne discusses the company's growth. (LVRJ)
Sunrise Hospital celebrates 60 years
Sunrise Hospital opened its doors to patients on Dec. 15, 1958. Employees of more than 35 years celebrated at a luncheon Wednesday, Dec. 12, 2018. Jessie Bekker/ Las Vegas Review-Journal.
Maya Cinemas to open soon in North Las Vegas
Moctesuma Esparza, CEO of Maya Cinemas, talks about the newest location in North Las Vegas, set to open Jan. 10. The aim of the theatre chain is to serve latino-centric, underserved communities.
Holiday shopping and returns make this the busiest time of year for UPS
The UPS Las Vegas South facility is the company's busiest pre-load operation in the country, and it's even busier this time of year. (K.M. Cannon/Las Vegas Review-Journal)
Primm’s outlet mall has fallen on hard times
The mall, attached to Primm Valley Resort, opened in 1998. Back then, it was a “textbook, perfect outlet-center location." But now, Primm’s outlet mall has fallen on hard times. Las Vegas Boulevard has endless shopping spots. And there are other outlet malls that don’t require a hefty drive to the state line. Its mortgage-holder foreclosed on the mall in late September.
Miltary auction at Ritchie Bros. Auctioneers
Humvees, ammo cans, construction equipment, field gear and more is on the auction block Friday and Saturday at Ritchie Bros. Auctioneers. About 10,000 items in all are for sale in what GovPlanet bills as the largest auction of its kind.
Las Vegas residents discuss avoiding holiday scams
Las Vegas residents discuss their donation habits and how they avoid giving money to scam charities during the holiday season. (Bailey Schulz/Las Vegas Review-Journal)
Tesla’s Nevada Gigafactory ahead of economic impact expectations
The Tesla Gigafactory’s economic impact on Nevada has exceeded projections, bringing in more than 7,000 jobs. In 2014, Nevada agreed to give the automotive and energy company $1.3 billion in tax abatements. In return, Tesla promised to meet certain requirements in areas like employment and capital investment. As of June, Tesla has brought in a total of $6.05 billion in capital investment, surpassing the $4.95 billion projection. The original contract gave the company until 2024 to make $3.5 billion in capital investments in Nevada. Derek Armstrong, deputy director of the Governor’s Office of Economic Development.
Land sales near the Las Vegas Raiders stadium
Land around the Las Vegas stadium site has been selling for high prices. A few months before the stadium’s groundbreaking, Global Trust Group acquired a 2.5-acre parcel just north of the stadium site. The property sold for $7.25 million, or $2.9 million an acre. Osprey Real Estate Capital and Huntington Hotel Group acquired a 2-acre industrial site just west of the stadium site in late November. The property sold for $6.5 million, or $3.15 million per acre. That's roughly 12 times the average price of land in the valley this year as tracked by Colliers International.
T-Mobile Tech Experience Truck parks in Toshiba Plaza at T-Mobile Arena
The Tech Experience Truck is a state-of-the-art showroom on wheels, with demonstrations that put connected drones, smart cities, augmented/virtual reality and smart tracking. The exhibit shows new wireless technology – including 5G and the Internet of Things (IoT). (K.M. Cannon/Las Vegas Review-Journal)
Steve Siegel, CEO of the Siegel Group, speaks about helping families and other needy residents
Steve Siegel, CEO of the Siegel Group, speaks about helping families and other needy residents to keep them from teetering off into homelessness. Bizuayehu Tesfaye/Las Vrgas Review-Journal @bizutesfaye
Crowds camp out for Chick-fil-A opening
Dozens of customers camped out 24 hours ahead of the 6 a.m. Thursday opening of the new Chick-fil-A on Rainbow Blvd.
Cheapest listings for sale in Las Vegas
Listed for $39,990, 585 S. Royal Crest Circle, Unit #9 is one of the cheapest homes currently listed for sale in Las Vegas. (Caroline Brehman/Las Vegas Review-Journal)
MGM's sports betting deals
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.
Terry Miller discusses Convention Center
Project Manager Terry Miller explains the phases of Convention Center construction.
Zappos treats their team members on Cyber Monday
Zappos rolls out a variety of food, drinks and special activities for all team members at their downtown Las Vegas headquarters for Cyber Monday. (K.M. Cannon/Las Vegas Review-Journal)
Team Hybrid at the 2019-Model Motor Trend International Auto Show
Among the companies showing off the 2019 model cars, Team Hybrid shows off its modified cars. Las Vegas resident David David talks about the team, which is in its ninth year exhibiting at the show, and his show car.
Black Friday Shoppers at downtown Summerlin and at the Arsenal
Black Friday shoppers at downtown Summerlin and at the Arsenal. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfYe
Black Friday shopping in Las Vegas
Black Friday sale shopers express their shopping experience. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Las Vegas Livestock recycling Strip food waste
Las Vegas Livestock collects and recycles food from many Las Vegas Strip companies. (Nicole Raz/Las Vegas Review-Journal)
Black Friday at Fry's
Shoppers line up for deals early on Black Friday at Fry's Electronics on Las Vegas Boulevard South. (Mat Luschek/Las Vegas Review-Journal)
Black Friday shoppers at Best Buy at 5 am
Black Friday shoppers at Best Buy at 5 am on Nov. 23. (Mat Luschek/Las Vegas Review-Journal
Black Friday - 1am Closing Time
Quiet night.
Black Friday - 12:30am - Best Buy Arroyo Crossing
Sam's Town Holiday Lighting Ceremony
On Wednesday, Nov. 21, 2018, Mystic Falls Park opened with its annual tree lighting ceremony, hosted by Boyd Gaming Executive Chairman Bill Boyd. The attraction features a Winter Wonderland theme and holiday-inspired laser light show, available daily Nov. 23 to Jan. 1. (Mat Luschek/Las Vegas Review-Journal)
What Is A Smart City?
George Karayannis, vice president of CityNow, Panasonic’s smart-city arm, explains. (Nicole Raz/Las Vegas Review-Journal)
Walmart uses virtual reality to train employees
Walmart Academy Facilitator demonstrates the VR training program being used by Walmart stores across the country.
With holidays around the corner, department stores hiring extra staff
J.C. Penny hired 72 seasonal workers this year at the Galleria at Sunset mall in Henderson in order to handle the heavy traffic of the holiday shopping season. (Rachel Aston/Las Vegas Review-Journal)
Startup Weekend fosters new businesses
With the help of entrepreneurial peers and an expert panel of mentors, Techstars Startup Weekend fosters the ideas of attendees into marketable business plans. (Rachel Aston/Las Vegas Review-Journal)
News Headlines
Add Event
Home Front Page Footer Listing
You May Like

You May Like