LOCAL ECONOMY: Nevada gaming stocks improve

Author: J. Robison, Las Vegas Review-Journal Date: 03.31.10

A key stock index that monitors publicly traded gaming companies has posted its best showing since the financial markets melted down in fall 2008. The Applied Analysis Gaming Index... Read More >>

Another brick in the wall

Author: Sun Editorial, Las Vegas Sun Date: 03.31.10

A Las Vegas Chamber of Commerce study released this week found that student achievement in Nevada still lags behind the nation even though there has been “meaningful improvement” in Clark... Read More >>

STATE ECONOMY: Nevada's taxable sales down 8.1 percent

Author: J. Robison, Las Vegas Review-Journal Date: 03.30.10

New taxable-sales statistics show some long-suffering sectors of the Nevada economy enjoyed growth in January. But those gains represent a fraction of the billions of dollars the Silver State... Read More >>

Apartment market said to need decade to recover

Author: T. Illia, Las Vegas Business Press Date: 03.29.10

Southern Nevada's beleaguered apartment sector is hoping for brighter days ahead. It may be a while, though. The apartment market suffered an ugly downturn in 2009, with plunging rents, soaring vacancies... Read More >>

BLEAK JOB REPORT: Nevada adds workers in February but sees jobless rate rise

Author: J. Robison, Las Vegas Review-Journal Date: 03.26.10

Unemployment in Nevada and Las Vegas set records in February, but that doesn't mean the Silver State's job market worsened significantly, experts said Friday. New numbers from the state Department... Read More >>

Decreased discretionary spending hurts restaurants

Author: B. Wargo, in Business Las Vegas Date: 03.26.10

The recession has taken a toll on a lot of retailers, many having closed their doors. Restaurants in Southern Nevada haven’t been immune and are going out of business in greater numbers... Read More >>

4 Station Casinos becoming part of new gaming entity

Author: Channel 13 News Date: 03.25.10

Las Vegas, NV (KTNV) - Station Casinos announced a reorganization plan to split up its properties. Four of its 18 casinos will become part of a new gaming entity. The rest will be sold in bankruptcy court... Read More >>

Station Casinos Breakup Proposed

Author: Channel 8 News Now Date: 03.25.10

LAS VEGAS -- It's one of the largest corporate bankruptcies in Nevada history. Station Casinos announced Thursday its plan to save some of its properties while potentially selling off more... Read More >>

After years of explosive growth, schools to feel economic pinch for years to come

Author: E. Richmond, Las Vegas Sun Date: 03.25.10

No public entity has been affected more by Southern Nevada’s explosive growth than the Clark County School District, which used soaring enrollment to leverage a $3.5 billion capital campaign... Read More >>

Crystals Vision

Author: K. Silver, Seven Date: 03.25.10

Although more than 40 percent of Crystals has yet to be leased, General Manager Farid Matraki is optimistic. “I think the first 100 days were very effective,” he says. “I think we’re on track.”... Read More >>

LAS VEGAS PERSPECTIVE 2010: Economist says
nation recovering faster than Las Vegas

Author: J. Robison, Las Vegas Review-Journal Date: 03.23.10

The nation's economy shows definite signs of recovery, but consumers aren't yet ready to spend on the entertainment, travel and other discretionary leisure activities that drive Southern... Read More >>

When Will Vegas Rebound From Recession?

Author: Channel 5 News Date: 03.23.10

LAS VEGAS - Las Vegas won’t see an economic recovery as quickly as something other cities, one expert predicted Tuesday, because vacations are a low priority for families... Read More >>

Hope in Las Vegas Perspective

Author: Channel 13 Action News Date: 03.23.10

Las Vegas, NV - It's an intimate look at Las Vegas and a good barometer of where we stand in terms of growth. The annual report is called the Las Vegas Perspective, and it's the 30th year Applied... Read More >>

Report offers a new perspective on Las Vegas

Author: C. Wieland, My News 3 Date: 03.23.10

What are most Las Vegans are worried about these days? The majority of people are concerned with the future of education, the cost of health care, and how to make money in Southern Nevada... Read More >>

Numbers Listed In 2010 Las Vegas Perspective

Author: Channel 5 News Date: 03.23.10

LAS VEGAS - Clark County’s population surged past 2 million in 2009, despite the area suffering through one of the worst economic periods in its history. The total county population grew 1 percent... Read More >>

Health Care, Education Top Concerns

Author: Channel 5 News Date: 03.23.10

LAS VEGAS - The quality of health care and education tops the list of concerns for southern Nevada families, according to the 2010 Las Vegas Perspective. When asked to rate their level of concern... Read More >>

Las Vegas is Growing and Residents Hopeful

Author: Channel 8 News Date: 03.23.10

LAS VEGAS -- Believe it or not, Las Vegas is growing. The new Las Vegas Perspective was released Tuesday detailing what parts of the valley grew, what shrank and where the city is going... Read More >>

Economist says nation recovering faster than Las Vegas

Author: J. Robison, Las Vegas Review-Journal Date: 03.23.10

The national recession's end is in sight, though recovery remains elusive in Las Vegas, an economist said this morning. Federal Reserve senior economist Raymond Owens said the U.S. economy... Read More >>

Recession an opportunity for a new Nevada?

Author: B. Wargo, In Business Las Vegas Date: 03.12.10

Nevada has a chance to redefine itself during this recession and its future is bright once the national and global economies improve, according to the chief economist for Wells Fargo & Co. “You will recover... Read More >>

Nevada's jobless rate remains at 13 percent

Author: J. Robison, Las Vegas Review-Journal Date: 03.08.10

As if Nevada's unemployment rate wasn't high enough, fresh statistics show even bigger job woes for specific demographic groups. The Silver State's jobless rate remained unchanged... Read More >>

RECESSION'S TOLL: Salary, job outlook for Nevadans goes from bad to worse

Author: J. Robison, Las Vegas Review-Journal Date: 03.07.10

It's no secret Nevada owns one of the nation's worst economies. The Silver State's jobless rate hovers around 13 percent, and if you throw in discouraged workers who've quit seeking jobs... Read More >>

REAL ESTATE: Recession leaves raw land in dust

Author: H. Smith, Las Vegas Review-Journal Date: 03.07.10

Fortunes have been made and lost on land deals in Las Vegas. Mostly lost, lately. Take, for example, Elad Group, a New York-based company controlled by Israeli billionaire Yitzhak Tshuva... Read More >>

Industrial Market

Author: H. Riell, Nevada Business Magazine Date: 02.01.10

The industrial real estate landscape in Nevada has turned upside down over the last 24 months, going from too little to, thanks to the turbulent economy, too much. The result has not been pleasant.... Read More >>

Gaming stocks fall in February

Author: H. Stutz, Las Vegas Review-Journal Date: 02.27.10

February wasn't the gaming sector's finest month. Investor concerns surrounding Las Vegas sent the average daily stock prices of seven publicly traded casino operators and slot machine... Read More >>

The Billion Dollar Baby

Author: N. Lucht, Seven Date: 02.25.10

No neighborhood casino has been immune to the Great Recession, but one property has had it especially rough. M Resort opened a year ago March 1 against the biggest headwinds the Las Vegas gaming... Read More >>

Commercial real estate vacancies starting to decline

Author: Channel 13 Action News Date: 02.24.10

Landlords and lenders are reaching out to small business owners to combat commercial retail vacancy rates. Analyst Brian Gordon says the 10% vacancy rate now is more than double the usual... Read More >>

Foreclosures bring hurdles to getting accurate census count

Author: E. Dostal, Las Vegas Sun Date: 02.23.10

Every person who isn’t counted by the U.S. Census represents about a $900 loss for Nevada -- one reason why everyone needs to be counted, U.S. Secretary of Commerce Gary Locke said during... Read More >>

Valley land values crawl ahead in fourth quarter

Author: T. Illia, Las Vegas Business Press Date: 02.22.10

Southern Nevada vacant land values inched upward during the fourth quarter, but remain down from last year as distressed sales dominate market activity, Las Vegas-based business advisory... Read More >>

Pegasus Resort and Casino site for sale

Author: T. Illia, Las Vegas Business Press Date: 02.22.10

Pegasus, the mythological flying horse, has lost its wings. The one-time site of the Pegasus Resort and Casino is now for sale. The asking price is $35 million or the same amount paid three years ago... Read More >>

A variety of random thoughts

Author: Bruce Spotleson, In Business Las Vegas Date: 02.19.10

Time to clear out the reporter’s notebook, and all the random notes scribbled into it: There is a broad line between meeting customer expectations and overshooting them. Seems sort of... Read More >>

Jobs in medical field in Las Vegas fare well, despite economy

Author: B. Wargo, In Business Las Vegas Date: 02.19.10

Although the state’s jobless rate hovers at 13 percent and many workers are losing jobs, health care employment has bucked that trend in Las Vegas just as it has across the nation. Toward the end of 2009... Read More >>

Shells of our Former Selves

Author: B. Sodoma, Seven Date: 02.18.10

The Vantage Lofts website still proudly claims to have sold out the first release of its modern, cube-shaped lofts. There are even “special buyer incentives for a limited time” on upcoming releases... Read More >>

$325 MILLION DROP: Revenue Forecast Worsens

Author: S. Wyland, Las Vegas Review-Journal Date: 02.15.10

The ailing real estate market is pushing property tax revenues into a deeper chasm than in 2009, and one analyst predicts local governments will need years to climb back out of the hole. An early forecast... Read More >>

Land transactions in Las Vegas area up for third straight quarter

Author: B. Wargo, Las Vegas Sun Date: 02.12.10

Land transactions picked up pace in 2009, but investors continue to remain cautious about jumping into the market with such a large supply of empty commercial space, according to research firm Applied... Read More >>

National monument designation could boost tourism, economic diversification

Author: R. Velotta, In Business Las Vegas Date: 02.12.10

Will an area north of Las Vegas be designated the nation’s newest national monument? President Barack Obama could win a measure of tourism redemption in Southern Nevada by taking action... Read More >>

Q&A: Brian Gordon, Principal, Applied Analysis

Author: B. Wargo, In Business Las Vegas Date: 02.12.10

Brian Gordon is by no means shy. But compared to his partner at Applied Analysis, Jeremy Aguero, he comes across as a quiet, behind-the-scenes player. An accountant and financial analyst who was born... Read More >>

Seniors to stimulate economy

Author: B. Wargo, In Business Las Vegas Date: 02.12.10

The 60 percent decline in home prices in Las Vegas since 2006 has opened the door for out-of-state retirees to move to the region and stimulate the housing market, real estate observers say. Las Vegas... Read More >>

LETTERS: To the editor:

Author: Las Vegas Review-Journal Date: 02.10.10

How many of us are a lost paycheck away from disaster? I could survive maybe two years if I lost my job, but my neighbors might not be so lucky. I could last maybe six months if I didn't have health... Read More >>

PIPELINE FUTURE: Water officials rush to craft bill in response to court ruling

Author: H. Brean, Las Vegas Review-Journal Date: 02.10.10

When lawmakers return to Carson City this month to wrestle with the state's $881 million budget deficit, water officials want them to take on another bit of business: the recent Supreme Court ruling... Read More >>

Valley apartment market deteriorates in fourth quarter

Author: T. Illia, Las Vegas Business Press Date: 02.08.10

Southern Nevada's apartment market continued its deterioration in the fourth quarter with dropping rents and rising vacancies, CB Richard Ellis reports. Job losses, shadow rental homes... Read More >>

Pricey land buy on Las Vegas Strip a bit of a surprise

Author: L. Benston, Las Vegas Sun Date: 02.08.10

Vacant land on the Las Vegas Strip changed hands last week in the first such deal on the famed 4-mile corridor since the recession. Surprised observers of the $25 million acquisition of 2.15 acres at Harmon... Read More >>

REAL ESTATE: Housing analyst predicts increase
in sales, median price in the coming year

Author: H. Smith, Las Vegas Review-Journal Date: 02.05.10

New-home sales in Las Vegas are projected to increase to about 5,400 in 2010 and the median price should be close to $220,000 by the end of the year, a slight bump from December's median... Read More >>

CityCenter condos may outperform market

Author: B. Wargo, In Business Las Vegas Date: 02.05.10

CityCenter is starting to finalize sales of condominiums, which coincides with already difficult conditions in the Las Vegas high-rise condo market, analysts said. Although many expect CityCenter to... Read More >>

Las Vegas Apartment Rents Reach Four-Year Low

Author: Channel 8 Las Vegas Now  Date: 02.03.10

LAS VEGAS - Las Vegas is a renters' market. Research firm Applied Analysis reports asking rent prices are now about $770. That is a four-year-low. Garry Cuff with Commerce Real Estate... Read More >>

State revenue shortfall $881 million, lawmakers told

Author: E. Vogel, Las Vegas Review-Journal Date: 02.03.10

CARSON CITY — It's official. The state government revenue shortfall that legislators and the governor must eliminate through spending cuts later this month is $881 million. State Budget Director... Read More >>

Rental housing prices down 8.2 percent in Las Vegas

Author: H. Smith, Las Vegas Review-Journal Date: 02.03.10

A drop in Las Vegas apartment rents may be sobering news for landlords and owners, but it comes at the right time for budget-conscious renters in the worst economic times since the Great... Read More >>

Distressed Las Vegas housing market may be close to bottoming out, new analysis concludes

Author:  R. Theim, The Examiner Date: 02.01.10

The distressed Las Vegas residential real estate market - which has the dubious distinction of being home to more foreclosures than any other U.S. city - has seen a 50% drop in its resale inventory... Read More >>

Retail sales rise over holidays, offering hint of hope

Author: T. Illia, Las Vegas Business Press Date: 02.01.10

The retail market had a small but noteworthy holiday sales improvement over the previous year, the Retail Association of Nevada reports. There was $353 billion in retail spending nationwide... Read More >>

$4 billion in local revenue might play in state budget game

Author: D. Schwartz, Las Vegas Sun Date: 01.30.10

CARSON CITY — As the governor and lawmakers look for ways to fill a $900 million hole in the state budget, giant pots of money sitting in bank accounts of Southern Nevada governments and... Read More >>

January jolt for gaming stocks

Author: H. Stutz, Las Vegas Review-Journal Date: 01.30.10

Gaming stocks started off the year with a bounce as investors anticipated fourth-quarter earnings and casino watchers tried to gauge the impact of the recently opened CityCenter on Las Vegas.... Read More >>

Empty office space on rise in Southern Nevada, but analysts see some hope

Author: H. Smith, Las Vegas Review-Journal Date: 01.30.10

The two-year recession is clearly taking a toll on Southern Nevada's retail market, emptying shopping centers and pinching consumer spending, though some real estate analysts see glimpses... Read More >>

Short sales soar while foreclosure sales slacken

Author: B. Wargo, In Business Las Vegas Date: 01.29.10

Las Vegas and the state may be changing from the nation’s foreclosure capital to a housing market dominated by short sales. In the last four months of 2009, the number of foreclosure sales... Read More >>

Las Vegas Monorail has few profitable options

Author: S. Green, Las Vegas Sun Date: 01.29.10

The Las Vegas Monorail will never generate enough revenue to pay off its debts, according to the company’s own financial estimates. And without financial relief, looming bills to replace trains... Read More >>

Too reliant on tourism

Author: Editorial, In Business Las Vegas Date: 01.29.10

Southern Nevada’s dependence on tourism has been noted time and again, but the level of the region’s dependence is surprising. A report by Applied Analysis found that there may be no other... Read More >>

Dreary reality aside, optimists make case for Vegas revival

Author: J. P. Coolican, Las Vegas Sun Date: 01.29.10

Watching Southern Nevada these past 30 months or so has been like watching a sick loved one wither and worsen, or like watching a continuous loop of an Ingmar Bergman film with dry... Read More >>

OPEN WIDE AND SAY 'UGH!'

Author: H. Smith, Las Vegas Review-Journal Date: 01.29.10

After two years of being on life support, the Las Vegas economy is showing a slight pulse, a faint heartbeat, though it's still afflicted with serious ailments, Applied Analysis principal Jeremy... Read More >>

Jim Murren: ‘Near-death experience’ nearly pushed MGM Mirage to bankruptcy

Author: R. Velotta, Las Vegas Sun Date: 01.28.10

MGM Mirage, the state’s largest employer and taxpayer, is rejoining the Las Vegas Chamber of Commerce after a six-year hiatus. Jim Murren, chairman and CEO of the company, told an audience... Read More >>

Business leaders to outline expectations for 2010

Author: R. Velotta, Las Vegas Sun Date: 01.28.10

How Southern Nevada will fare economically in 2010 will be the key topic today at the Las Vegas Chamber of Commerce’s biggest networking event, Preview Las Vegas... Read More >>

$900 MILLION SHORTFALL: Jobs on line for state, schools

Author: B. Spillman, E. Vogel, Las Vegas Review-Journal Date: 01.27.10

Nevada's budget outlook is so bleak that lawmakers doubt whether state government can remain afloat without drastic cuts to everything from prisons to schools to state parks... Read More >>

Office vacancy soars in LV for fourth quarter

Author: H. Smith, Las Vegas Review-Journal Date: 01.26.10

The number of "For Lease" banners hanging on office buildings in Las Vegas shows the worst-performing commercial real estate market in decades, bringing a halt to any new construction... Read More >>

EDITORIAL: Strategic thinking

Author: Editorial, Las Vegas Review Journal Date: 01.24.10

Nevada is hurting, no question about it. Unemployment rose last month to a near-record 13 percent. While housing prices have stabilized, no one expects them to rise again for years. Tourism... Read More >>

Industrial space available -- for a while

Author: H. Smith, Las Vegas Review-Journal Date: 01.24.10

Industrial vacancy topped 10 percent in Las Vegas and there's virtually no industrial space under construction or planned for the next 24 months, CB Richard Ellis brokerage reported... Read More >>

UNEMPLOYMENT DATA: Jobs report only part of story

Author: J. Robison, Las Vegas Review-Journal Date: 01.23.10

Sure, December's jobless numbers look bleak. But Friday's official unemployment numbers seem positively rosy once you factor in discouraged workers who've surrendered... Read More >>

Las Vegas may be most tourism-dependent city in U.S.

Author: R. Velotta, In Business Las Vegas Date: 01.22.10

We all know Southern Nevada is dependent on tourism, but a new report suggests that it’s the most tourism-dependent economy in the United States. In the report, “The Relative Dependence on... Read More >>

Seniors called boon to Nevada

Author: E. Vogel, Las Vegas Review-Journal Date: 01.21.10

CARSON CITY -- A drive by economic development authorities to induce more senior citizens to move to Nevada could help the state recover from its worst recession in generations, an analyst... Read More >>

Unfinished Summerlin mall a monument to recession

Author: J. P. Coolican, Las Vegas Sun Date: 01.11.10

Neil Opfer can see the recession from his window. Opfer is a professor of engineering and construction management at UNLV and lives in Summerlin, not far from the half-finished construction site... Read More >>

INSIDE GAMING: Rugby weekend just what Las Vegas needs

Author: H. Stutz, Las Vegas Review-Journal Date: 01.10.10

Laugh if you will, but a two-day rugby tournament might have the same effect on Las Vegas tourism as the high profile 2007 NBA All-Star Game. I know what you're thinking. There is no evidence... Read More >>

Nevada public employees among highest paid in country

Author: K. Hansen, Las Vegas Sun Date: 01.06.10

Nevada public employees are among the highest paid in the nation, according to a report released on Wednesday by the Las Vegas Chamber of Commerce. According to the report, when... Read More >>

10 percent of Nevadans in food stamp program

Author: J. P. Coolican, Las Vegas Sun Date: 01.06.10

A new report from local consulting firm Applied Analysis offers yet another grim assessment of the state of Southern Nevada, this time about disadvantaged people and their spiking need for... Read More >>

A new, and older, demographic trend

Author: S. Kanigher, A. Richards, Las Vegas Sun Date: 01.03.10

The U.S. Census Bureau projects that the fastest-growing segment of Nevada’s population over the next 10 years will be senior citizens, and the prospect has policymakers on edge... Read More >>

RENTERS' MARKET: SWEETENING THE DEAL

Author: S. Padgett, Las Vegas Review-Journal Date: 01.03.10

It pays to be a renter these days, especially if you're in the market for an apartment. Flexible contracts, relaxed policies, free trips and electronics are among the offers... Read More >>

Sluggish economy still hurting retail sales

Author: B. Wargo, In Business Las Vegas Date: 01.01.10

High unemployment and cautious consumer spending are expected to dampen retail sales in Las Vegas once the holiday counts are completed at the end of January, retail analysts said... Read More >>

GAMING STOCKS: Down For Month, Up For Year

Author: H. Stutz, Las Vegas Review-Journal Date: 01.01.10

December wasn't the best of months for the publicly traded gaming companies. But compared to where their stock prices stood a year ago, 2009 turned out to be a rebound year... Read More >>