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Business

For Las Vegas business news covering casinos, energy, housing, entrepreneurs and more turn to Las Vegas Review-Journal.

THE LATEST Business NEWS
LV Sands scraps Kansas plan

Las Vegas Sands Corp. on Wednesday scuttled plans for a $500 million casino complex near Kansas City, Kan., blaming the worsening credit markets and the potential that neighboring Missouri might soften its in-state gambling restrictions.

Bump in pay won’t go a long way

WASHINGTON — About 2 million Americans get a raise today as the federal minimum wage rises 70 cents. The bad news: Higher gasoline and food prices are swallowing it up, and some small businesses will pass the cost of the wage boost to consumers.

INSIDE BUSINESS

Local law firm names four new associates

Allegiant revenue up as fuel costs eat at profit

Las Vegas-based Allegiant Air can’t escape sky-high fuel costs but the airline did boost revenue 48 percent to $132 million in the second quarter, in part by scooping up passengers more troubled carriers left behind.

Little reason for optimism seen in Beige Book report

Little optimism was seen in a report Wednesday for the region that includes Las Vegas and Nevada except that prices for goods other than energy and food are stable.

IN BRIEF

NEW YORK

House OKs bill to rescue homeowners

WASHINGTON — The House Wednesday easily approved legislation that seeks to slow the steepest slide in house prices in a generation, rescue hundreds of thousands of homeowners at risk of foreclosure and reassure global markets that mortgage-finance giants Fannie Mae and Freddie Mac will not be allowed to fail.

Professor urges legalizing Web betting

Normally, the most vociferous calls for legalizing Internet gaming come from the growing online poker-playing community, offshore gambling site operators, civil libertarians and a handful of select members of Congress.

Going up downtown

Developer Mike Flores has faith in the rejuvenation of downtown Las Vegas. He has invested more than $1 million in the conversion of Fremont Manor Townhomes to affordable housing.

Las Vegas Average Gas Prices
Regular
Diesel
Source: AAA