The EB-5, or Immigrant Investor Program, was created by Congress in 1990. Its purpose was to stimulate the economy through job creation and capital investment by immigrant investors by creating a new commercial enterprise or investing in a troubled business, according to the U.S. Citizenship and Immigration Services website. Foreign investors put in a capital investment (either $500,000 under one pathway or $1 million under another pathway) into an eligible project. The investment must create at least 10 full-time jobs for qualifying U.S. workers generally within two years. If all terms of the program are met, investors are able to get a Green Card.
Regent Cathy McAdoo held a dinner at her son’s Elko restaurant … and had the higher ed department pay for it. Then the Regents catered a meeting at the same restaurant for $10,000. Regent John T. Moran frequents top Vegas restaurants … sometimes with campaign donors. And Regent Kevin Page goes to dinner with his brother and others. The Regents and agency say the spending is appropriate but … a good government advocate questioned the expenses. Robert Fellner, policy director Nevada Policy Research Institute.
Caesars Entertainment Corp. has been swept up in takeover speculation since the company’s share price tumbled last year amid disappointing earnings and concerns over a recession. Amid the decline, hedge funds scooped up shares. Billionaire activist investor Carl Icahn began buying shares of Caesars as early as January. Icahn acquired nearly 18 percent by mid-March. In February Icahn called on the Caesars board to study a sale as a way to boost shareholder value.
Nov. 22, 2011: The Expanded Gaming Act initiates a commercial casino industry in Massachusetts. Dec. 16, 2013: Wynn Resorts Ltd. and its Massachusetts subsidiary are found suitable to apply for a state gaming license. Sept. 16-17, 2014: The Massachusetts Gaming Commission votes for Wynn Resorts’ $1.6B Wynn Everett proposal. The commission then votes to award a license to Wynn. Jan. 2, 2015 : Wynn Resorts acquires the 33-acre Everett site on the Mystic River. March 2016 : Steve Wynn announces a budget of $2B for the resort and a new working name — Wynn Boston Harbor — as well as a planned July startup. Construction begins in August. Jan. 26, 2018: The Wall Street Journal publishes a story alleging sexual misconduct and sexual harassment over several years by Steve Wynn. Wynn denies harassing anyone. Jan. 29, 2018: The Massachusetts Gaming Commission begins a regulatory investigation of Steve Wynn and Wynn Resorts. Feb. 6, 2018: Steve Wynn steps down as chairman and CEO of Wynn Resorts. April 2, 2019: The Massachusetts Gaming Commission begins a hearing to determine the standing of Matt Maddox and Wynn Resorts. April 30, 2019: The Massachusetts Gaming Commission delivers its decision.
Las Vegas home prices grew fastest among major markets in February for the ninth straight month. But amid affordability concerns, the growth rate has slowed down. Southern Nevada prices in February were up 9.7% from a year earlier, according to the latest S&P CoreLogic Case-Shiller index. The last time Las Vegas’ price growth fell below 10% was in September 2017, S&P Dow Jones Indices reported.
According to a 2018 report from the Las Vegas Convention and Visitors Authority, bars and lounges are showing to be more popular than night clubs in the valley. While 7 percent of respondents said they went to a hotel nightclub, 52 percent made a stop at a hotel bar or lounge. Additionally, the number of visitors who said they’d visited a hotel nightclub with a cover dropped from 13 percent to 7 percent between 2017 and 2018. Matthew Minichino, vice president of nightlife and daylife for Hard Rock International
Las Vegas has no shortage of construction around town, and new plans are pitched regularly. But some projects are making more progress than others. Dining and entertainment complex Treehouse Las Vegas was initially scheduled to open in March 2019 but is nowhere close to being finished. Kind Heaven, a Southeast Asian-themed attraction on the Strip, was supposed to debut in August 2019. It’s now scheduled for April 2020. The Bend, a project with restaurants, a movie theater and an office building, was supposed to be finished in 2019. Its developers hope to break ground this year.
April 15 is tax day, the last day to file taxes without penalties. According to the postal service, tax returns are considered on-time if they’re addressed correctly, have enough postage and are postmarked by tax day. For those whose returns didn’t make the cut, the IRS can enforce penalties. The fee for filing late is usually 5 percent of the unpaid taxes for each month the return is late, and won’t exceed 25 percent of unpaid taxes. Failing to pay by the tax deadline results in a penalty of half a percent of the unpaid taxes each month after the due date. According to personal finance website WalletHub, the average American spends 11 hours and $200 to complete an annual income tax return form.
About 90 percent of the specialty jewelers in the U.S. generate less than $2.5 million in annual sales, according to the International Diamond Exchange. Most only operate one or two stores, IBISWorld data shows that the jewelry and watch wholesaling industry revenue dropped 1.8 percent over the past five years as the price of precious metals continue to be volatile. Additionally, IBISWorld reported the marriage rate was expected to decline in 2018, a potential threat to the jewelry stores industry.
Walmart plans to invest $16.3 million in Nevada stores this year. The improvements and innovations are part of Walmart’s plan to invest $11 billion in stores nationwide. Sixteen Nevada stores will offer a grocery pickup option this year, and another six will begin delivering groceries. Five Nevada stores will see pickup towers put in place. The 16-foot-tall machines can fulfill a customer’s online order within a minute of their arrival. Fifteen stores will be seeing FAST unloaders — a device that automatically scans and sorts items unloaded from trucks . Another 15 stores will see autonomous floor scrubbers. Tiffany Wilson, Walmart Director of Communications