Las Vegas Business News

Tax incentives of $215.9 million approved for electric car company Faraday Future

Nick Sampson, Ding Lei, and Richard Kim unveil Faraday Future's concept vehicle FFZERO1 at an event before the start of the Consumer Electronics Show on Monday, Jan. 4, 2016, in a parking lot across the street from the Luxor.

The Governor’s Board of Economic Development today approved giving $215.9 million in tax incentives for electric car company Faraday Future, which plans to ...

Super Bowl broadcast at stake in contract talks between Cox, KLAS-TV

The Vince Lombardi Trophy in front of the No. 50, the number of the Super Bowl in February, at NFL Network studios Wednesday, Sept. 9, 2015, in Culver City, Calif. Cox Communications subscribers in Las Vegas won't be able to watch the game on TV if the cable provider and KLAS don't reach an agreement on their contract, which expires Jan. 29.

An expiring contract between KLAS-TV and Cox Communications could cost the cable provider’s 353,000 Las Vegas customers a chance to watch this year’s Super Bowl at ...

Allegiant Air exec promoted in management shake-up

Maurice J. Gallagher Jr., chairman/CEO of Allegiant Air, walks through the company's new Airbus A319 passenger jet during an aircraft "open house" for employees at McCarran International Airport Thursday, Feb. 28, 2013. The new jet is more fuel efficient than the company's current jets.

A week after a top deputy resigned, Allegiant Air boss Maurice “Maury” Gallagher has given the job to an existing executive as part of a management shake-up. Las Vegas-based Allegiant announced ...

Cloudy forecast: Nevada solar rulings spur concerns about chilling effect on investment

Tera Mills, center, and other solar supporters rally in front of Public Utilities Commission offices Wednesday, Jan 13, 2016. Mills said her parents have installed solar panels on their rooftop.

The hope of a thriving solar industry in Nevada is fading, as companies have scaled back in reaction to a recent ruling by utility regulators establishing new fees for ...

Cosmopolitan CEO gets final approval for gaming license

William McBeath, president and CEO of the Cosmopolitan of Las Vegas, makes a few remarks Wednesday, Feb. 18, 2015, during an event celebrating the resort’s new ownership by Blackstone.

The Cosmopolitan’s top executive was granted final approval for a gaming license by Nevada regulators today ...

Mark Cuban calls regulatory challenges to fantasy sports growing pains

In this Sunday, Oct. 25, 2015, photo, workers set up a DraftKings promotions tent in the parking lot of Gillette Stadium in Foxborough, Mass., before a game between the New England Patriots and New York Jets.

Fantasy sports entrepreneurs thought they were decamping to friendly territory when they moved their convention from Las Vegas to Dallas after Nevada regulators cracked down on the industry last year. Instead, they were greeted with unpleasant news: Texas Attorney General Ken Paxton's opinion ...

Economic development officials see opportunities in gaming, transportation

Jonas R. Peterson, CEO of the Las Vegas Global Economic Alliance, and Steve Hill, executive director of the Governor’s Office of Economic Development, answer audience questions after remarks on efforts last year to develop Southern Nevada’s economy.

he gaming and hospitality industries will continue to serve as the cornerstones of the Southern Nevada economy, but they present opportunities for ...

Regulators approve Station Casinos’ proposed initial public offering

The Red Rock Casino Resort is shown in the western Las Vegas Valley.

Nevada regulators today approved Station Casinos’ plan for an initial public offering, allowing the locals gaming giant to move forward with its transition back into a public company. Station, which was taken private …

Las Vegas casinos spending heavily to defend tax increase; here’s why

A view of the Las Vegas Strip as seen from Rivea at Delano Las Vegas on December 8, 2015.

Nevada’s major casinos were generally strong supporters of Gov. Brian Sandoval’s $1.1 billion tax package last year, and they have already spent heavily to keep ...

Regulators could revisit grandfathered solar rates for some customers

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

After weeks of pushback from solar advocates, the Public Utilities Commission will meet Monday to decide whether to grant additional testimony on one narrow but contentious ...

UNLV closes $50 million purchase of land for possible stadium

UNLV closed a $50 million deal to buy 42 acres of empty land along Tropicana Avenue and Koval Lane that could be used to build a stadium on campus. The sale was announced Wednesday, Jan. 20, 2016.

UNLV has closed the deal on 42 acres of empty land along Tropicana Avenue and Koval Lane that could be used to build a long-awaited stadium on campus. The sale was ...

Ex-casino exec, waitress and gambler charged in slot scheme

Officials say a former casino vice president conspired with a cocktail waitress and a gambler to steal over $400,000 from a northeastern Pennsylvania casino. Court documents show Robert Pellegrini, a former executive at Mohegan Sun Pocono in Wilkes-Barre, was charged ...

Work completed on Mandalay Bay Convention Center expansion project

MGM Resorts announced Wednesday, Jan. 20, 2016, that it had completed work on a $70 million project to expand the Mandalay Bay Convention Center, shown here.

MGM Resorts has wrapped up work on an expansion of the Mandalay Bay Convention Center and is on track to finish $100 million worth of renovations to the nearby Mandalay Bay resort next month, the company announced in ...

With aid nixed, Atlantic City to consider bankruptcy filing

This July 11, 2014, aerial photo shows the Atlantic City, N.J., beachfront with many of its Boardwalk casinos.

Atlantic City officials are considering asking New Jersey to let the troubled gambling resort file for bankruptcy. Mayor Don Guardian, a Republican, and City Council President Marty Small, a Democrat, met Wednesday with the Democratic Assembly Speaker Vincent Prieto, asking him to ...

At SHOT Show in Las Vegas, exhibitors laud Obama for spurring business

Guns are displayed at the Sig Sauer booth during the SHOT (Shooting, Hunting and Outdoor Trade) Show on Tuesday, Jan. 19, 2016, at Sands Expo.

With more firearms being sold in the United States than any other time in the country’s history, major gun retailers at this week’s Shooting, Hunting and Outdoor Trade Show credited a sales explosion to recent executive orders from President Barack Obama and a growing public desire for self-protection. “The original fear was that the government is going to take your guns away,” said Mike Bazinet, public affairs director for the annual SHOT Show. “But now people have also come to the realization that ...

Wynn discusses management philosophy, 2016 campaign, China

Steve Wynn, chairman and CEO of Wynn Resorts, laughs as he answers questions after his keynote address during the annual Electronics for Imaging users conference Tuesday, Jan. 19, 2016, at Wynn Las Vegas.

On the night of the Democratic debate at the Wynn Las Vegas, an executive who works at the casino got a call from a senior vice president at CNN, the cable channel sponsoring the debate. The CNN executive had called to recount a story. After asking for directions to an employee earlier that night, a security guard had offered to walk him over to ...

Rebates for LED lights, energy efficient equipment in jeopardy

An assortment of LED lightbulbs are displayed in the Batteries Plus Bulbs store, 2546 E Craig Road, in North Las Vegas Monday, June 22, 2015.

On the same day in December that the Public Utilities Commission voted to increase bills for solar customers, it dealt another blow to the state’s renewable energy efforts ...

Online booking makes hotel loyalty harder to keep

Erin Gifford, who prefers to book discounted rooms through Priceline at a variety of hotels rather than worry about earning rewards, perks or points from a single hotel's loyalty program, in Baltimore, Jan. 15, 2016. The ease of online booking makes Gifford's money-saving approach easy, and hotel company's attempts to retain a customer's loyalty not so easy.

For the past six months, Erin Gifford, a marketing director based in Washington, has traveled for business at least once a month, mostly to Boston. But she has yet to see a single reward from a hotel chain.

China’s economic growth wanes to 25-year low in 2015

A man carries his luggage and a bag of fruits past billboards showing Chinese government propaganda "China Dream" and the scenic of Central Business District near a construction site in Beijing, Tuesday, Jan. 19, 2016. China's economic growth slowed to a six-year low in the latest quarter as trade and consumer spending weakened, deepening a downturn that has fueled anxiety abroad over its impact on an uncertain global outlook.

China's economic growth ebbed to a 25-year low in 2015 as trade and consumer spending weakened, deepening a downturn that has fueled anxiety abroad over ...

Seeking ranchland in Texas, where wealth is measured in acres

Hunting trophies and a Texas flag on a 1,600-acre ranch in Palestine, Texas, Jan. 14, 2016. A new Texas-only ranch fund will focus on buying $15 million to $20 million ranches from owners who want to sell quickly.

Jay Ellis, an investment fund founder, may be the only person in Texas who is giddy about collapsing oil prices ...