Las Vegas Business News

New set of wheels: NLV company 2050 Motors to unveil cars today

This scanned image shows an invitation to North Las Vegas car company 2050 Motors' unveiling of its two production vehicles beginning Friday, Feb. 12, 2016.

On the surface, Faraday Future and a little-known automobile company based in North Las Vegas, 2050 Motors, are uncannily similar. Each business revolves around ...

12 February 2016
By Daniel Rothberg

Slow comeback from recession leaves Pahrump with lots of wide open spaces

A look at the current state of Cottage Groves Estates on Cottage Grove Way and Spruce Lane on Friday, Feb. 5, 2016, in Pahrump.

As is the case with Las Vegas, Pahrump’s economy is on the mend. But, overall, the homebuilding industry remains noticeably slower across the Nye County border than ...

12 February 2016
By Eli Segall

Wynn Resorts revenue down 16 percent in 4th quarter, 25 percent for full year

The watery entrance of Wynn Macau.

Wynn Resorts, the company that runs the Wynn and Encore on the Strip as well as property in Macau, reported its fourth quarter and full year earnings today ...

11 February 2016
By J.D. Morris

New president named at Fremont Street Experience

Revelers celebrate the New Year at the Fremont Street Experience just after midnight Friday, Jan. 1, 2016.

Patrick Hughes, the general manager of the Cannery hotel-casino in North Las Vegas, is the new president and CEO of the Fremont Street Experience, the organization’s board announced today. Hughes ...

11 February 2016
By J.D. Morris

Marnell Gaming buying Nugget Casino Resort in Sparks

A casino company with holdings in southern Nevada is buying the Nugget Casino Resort in Sparks. Marnell Gaming LLC confirmed the deal late Wednesday but declined to disclose the terms of the pending sales agreement. The New York-based ...

11 February 2016
Associated Press

Presidential candidates rated for stances on gaming

Democratic presidential candidate Hillary Clinton greets workers at the Aria in Las Vegas before addressing the National Association of Latino Elected and Appointed Officials on Wednesday, June 18, 2015.

The American Gaming Association gave only two presidential candidates, former Secretary of State Hillary Clinton and retired neurosurgeon Ben Carson, a “green light” for their stances on gaming in ...

11 February 2016
By Megan Messerly

PUC signals it will stand firm against solar industry on rates

Solar supporters rally in front of the Public Utilities Commission offices Wednesday, Jan 13, 2016.

The state’s utility commission, scheduled to issue a highly anticipated order on rooftop solar rates on Friday, filed a draft ruling late Wednesday that suggested it would ...

10 February 2016
By Daniel Rothberg

Las Vegas’ sizable inventory of vacant homes continues to shrink

A high-end home is shown in the northwest part of the valley Dec. 9, 2015. The vacant home, now listed for sale, was be used by squatters police and neighbors say.

Las Vegas’ inventory of vacant homes is shrinking but remains above the national average. Some 2.1 percent of Clark County homes — or 13,364 properties — are empty, compared to ...

10 February 2016
By Eli Segall

MGM Resorts’ outsourcing of 300 part-time jobs on Strip starts Friday

MGM Resorts International is outsourcing some 300 part-time jobs at its three arenas and event centers on the Strip starting Friday. The casino company is bringing in four companies to oversee certain “on-call positions” at the …

10 February 2016
By J.D. Morris

Cox finishing project to give Henderson businesses faster Internet

Cox Communications expects to complete construction this month on a project to provide Henderson businesses with Internet speeds of 10 gigabits per second or greater — speeds that make it possible to ...

10 February 2016
By Daniel Rothberg

Report: Nevada’s growing solar industry facing big slowdown

In this file photo, Vivint Solar employees install solar panels on a home.

Despite emerging regulatory uncertainty, the solar industry in Nevada employed more workers last year than all states except Massachusetts and California ...

10 February 2016
By Daniel Rothberg

The war over solar: As major ruling looms in Nevada, here are key factors

Solar supporters hold signs during a rally in front of Public Utilities Commission offices Wednesday, Jan 13, 2016.

As many as 1,000 people are expected to be on hand Friday, when the Public Utilities Commission is expected to rule on appeals of a controversial decision on solar energy. With the decision date approaching, here are some of the key factors that will ...

10 February 2016
By Daniel Rothberg

Report suggests Las Vegas housing market will hold course in ’16

A house is shown for sale Tuesday, Feb. 9, 2016, in Las Vegas.

If January was any indicator, Las Vegas’ housing market should experience more of the same in 2016 compared to recent years: higher prices, fewer purchases and over-reaching sellers. Used-home buyers continued paying bigger price tags in January, and even though sales volume rose from a year ago, it remained well below recent years’ first-month totals. Meanwhile, homeowners kept putting more ...

10 February 2016
By Eli Segall

As oil prices plummet, mounting debt catches up with U.S. producers

An new oil well is drilled near new apartments in Midland, Texas, Jan. 29, 2016. There are now virtually no wells in the United States profitable to drill. That has forced some companies into a fatal spiral, producing oil simply to satiate their lenders.

While crude prices have dropped more than 70 percent over the last 20 months, a reckoning in the nation’s vast oil industry has only just begun. Until recently, companies were able to ride out the slump using ...

10 February 2016
By Clifford Krauss and Michael Corkery, New York Times News Service

Tesla urges Nevada regulators to nix rate hike for solar customers

Elon Musk, CEO of Tesla Motors Inc., unveils the company’s newest products, Powerwall and Powerpack in Hawthorne, Calif., Thursday, April 30, 2015. Musk is trying to steer his electric car company's battery technology into homes and businesses as part of an elaborate plan to reshape the power grid with millions of small power plants made of solar panels on roofs and batteries in garages.

An executive for Tesla Motors is calling on the Public Utilities Commission of Nevada to reconsider a decision that increased the fixed service fee solar customers pay NV Energy ...

9 February 2016
By Daniel Rothberg

Governor directs task force to work on rooftop solar policy

In this file photo, Vivint Solar employees install solar panels on a home.

Gov. Brian Sandoval is asking an energy task force to take up hot-button issues including rooftop solar rate-setting and the Clean Power Plan. The governor's chief ...

9 February 2016
Associated Press

Clothing retailer H&M coming to Downtown Summerlin

Shoppers make their way along walkways Thursday, Oct. 9, 2014, during the grand opening of Downtown Summerlin.

Clothing chain H&M has announced plans to open a store at Downtown Summerlin, the Swedish retailer’s latest expansion in Nevada, where it already operates five locations. H&M, known for selling trendy apparel at low prices, said today it’s opening a roughly 20,000-square-foot store this spring at the open-air Summerlin mall at Sahara Avenue and the 215 Beltway. It did not give a more precise ...

9 February 2016
By Eli Segall

Former Adelson casino exec takes dismissal case to U.S. court

A former executive in billionaire casino magnate Sheldon Adelson's empire is asking a federal court in Nevada to rule on a continuing legal fight over his 2010 dismissal as ...

9 February 2016
By Ken Ritter, Associated Press

NLV aiming to entice businesses to industrial park south of Apex

Apex Industrial Park will be the home of electric carmaker Faraday Future, but it's not North Las Vegas' only development hope. Several miles south of Apex lie 1,100 acres ...

9 February 2016
By Jackie Valley

For Marco’s Pizza operating chief, ‘Undercover Boss’ appearance was eye-opener

Bryon Stephens, president and COO of Marco’s Pizza, stands in Marco’s Pizza at 3400 S. Hualapai Way on Thursday, Feb. 4, 2016. Stephens recently appeared on CBS’ “Undercover Boss.” The franchise has nearly 700 locations in 35 states and plans to open eight more in the Las Vegas Valley, Stephens said.

When he was featured on the CBS reality-TV series “Undercover Boss,” Bryon Stephens got a close look at some of the shortcomings of his business. Now Stephens, the president and chief operating officer of Marco’s Pizza, is out to incorporate his findings into plans to ...

9 February 2016
By Chris Kudialis
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