Las Vegas Business News

Tesla CEO plugs into new market with home battery system

Elon Musk, CEO of Tesla Motors Inc., unveils the company’s newest product, Powerpack, in Hawthorne, Calif., Thursday, April 30, 2015.

Never lacking daring ideas, billionaire entrepreneur Elon Musk is determined to jolt the electricity market. The CEO of electric car maker Tesla Motors hopes to park hundreds of millions of large, solar panel-connected batteries in homes and businesses so ...

1 May 2015
By Michael Liedtke and Jonathan Fahey, Associated Press

Casino billionaire Sheldon Adelson testifies for 2nd day in wrongful firing case

Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson testifies at Clark County Justice Center on Tuesday, April 28, 2015, in Las Vegas. Steven Jacobs, former president of Sands Macau, is suing Sands China and Las Vegas Sands Corp. over a wrongful termination case.

Sheldon Adelson testified Friday he isn't sure where he was when he and his second-in-command at the time crafted a list of reasons to fire ...

1 May 2015
By Kimberly Pierceall, Associated Press

Face-lifts at two major malls on the Strip to bring new restaurant, retail offerings

Miracle Mile Shops on the Strip is undergoing a 60,000-square-foot renovation. A rendering of the project, on Harmon Avenue just east of Las Vegas Boulevard, is shown above.

In a bid for diners, two shopping malls in Las Vegas’ resort corridor are getting mini face-lifts to make room for more restaurants. The projects, at Fashion Show mall and Miracle Mile Shops, come as developers ...

1 May 2015
By Eli Segall

Growth industry: Nevada lawmakers get up-close view of Colorado’s pot business

Nevada State Sen. Tick Segerblom, D-Las Vegas, takes a photograph with his mobile telephone as Elan Nelson, back, spokesperson for a marijuana grow facility, talks about the "library of pot' wall used to dry marijuana for sale as a contingent of Nevada lawmakers, their staffers and a handful of lobbyists toured the facility for both medical and recreational marijuana in northeast Denver on Saturday, April 25, 2015. Nevada lawmakers say they were quite impressed with the recreational marijuana industry in Colorado.

Sen. Patricia Farley, R-Las Vegas, said a recent fact-finding trip to Colorado for a look at that state's marijuana industry "really opened my mind." What she discovered included ...

1 May 2015
By Conor Shine

Strip room rates fluctuate around Mayweather-Pacquiao fight

A view of the Las Vegas Strip from a Maverick Helicopter on the way to opening night of the Electric Daisy Carnival on Friday, June 20, 2014, at Las Vegas Motor Speedway.

The imminent “fight of the century” at the MGM Grand Garden Arena has caused room rates on the Strip to skyrocket recently, but it seems that some, at least, have now dropped ...

30 April 2015
By J.D. Morris

Allegiant, Teamsters fighting over executive pay

A Southwest jetliner taxis by parked Allegiant Air jetliners at McCarran International Airport, May 9, 2013.

The union, which owns a miniscule portion of Allegiant’s stock, is pushing back against the Las Vegas-based discount airline’s $8.5 million payout to former president and chief operating officer Andrew Levy following his resignation ...

30 April 2015
By Eli Segall

$100 million for a home? Luxury buyers reach a new threshold

This undated photo provided by Christie's International Real Estate shows an interior view of Walnut Place, a $100 million estate on the market in Dallas.

The poshest of luxury homes are acquiring the cachet of a masterwork by Picasso or Matisse. Rather than settle for garages of antique cars or a museum's worth of paintings, billionaires are increasingly willing to pay $100 million for homes that can serve as showcases for their fortunes, according to ...

30 April 2015
By Josh Boak, Associated Press

Wynn Resorts: Elaine Wynn received only 17.1 percent of shareholder vote

Elaine Wynn speaks during a Las Vegas Metro Chamber of Commerce Business Power Luncheon on Wednesday, May 8, 2013, at the Rio.

Elaine Wynn secured just 17.1 percent of the vote in her failed campaign for reelection to the board of Wynn Resorts, according to ...

30 April 2015
By J.D. Morris

Fewer Las Vegas visitors in March, 3.6 million total

Tourists take photos at the Welcome to Fabulous Las Vegas sign Saturday, March 14, 2015, on the Strip.

Tourism officials say the number of visitors to Las Vegas dropped off in March to 3.62 million people. The Las Vegas Convention and Visitors Authority released ...

30 April 2015
Associated Press

Gaming revenue in March down on the Strip, statewide

Tapanee “Jib Jib” Songsee deals blackjack Monday, April 21, 2014, at the Cromwell.

Nevada gaming revenue declined again in March, thanks to a steep drop on the Las Vegas Strip, the state reported today. The Gaming Control Board said ...

29 April 2015
By J.D. Morris

Penn National to pay $360 million for the Tropicana

The exterior of the Tropicana on the Las Vegas Strip.

Penn National Gaming said this morning that its acquisition of the Tropicana will cost $360 million. The day after the sale was first reported by VEGAS INC, Penn began to shed light on its vision for the classic property. Penn, a regional gaming company that operates the M Resort in Henderson, reiterated ...

29 April 2015
By J.D. Morris

Retail reimagined: Boulevard mall owner welcomes out-of-the-ordinary tenants

Shoppers leave the Boulevard Mall on Tuesday, April 28, 2015. The mall, which was sold to Sansone Companies in late 2013, is undergoing extensive exterior renovations.

The owner of Boulevard mall has lured a call center, an Asian grocery, a pizza-and-games business and a hand-me-down retailer in an effort to occupy long-empty spaces at the aging shopping hub. Goodwill of Southern Nevada, best known for its network of donation centers and its stores with used clothing ...

29 April 2015
By Eli Segall

Poll: Majority of voters would disfavor candidates who block rooftop solar

Protestors, including Ronald Brittan, right, line up along the street during a rally in front of NV Energy Wednesday, April 22, 2015, in Las Vegas. Hundreds of activists gathered outside NV Energy headquarters in Las Vegas to protest a state cap affecting rooftop solar installations and urge the Legislature to lift it.

Advocates of Nevada’s rooftop solar industry have launched an offensive that includes advertising, media appearances, a rally and now a poll as its chances of winning a critical battle on a controversial policy wane. Industry advocates have purchased TV ads ...

29 April 2015
By Kyle Roerink

AT&T fires president over racist text; $100M lawsuit goes on

AT&T Inc. on Tuesday confirmed that it has fired Aaron Slator, a president who became the subject of a $100 million discrimination lawsuit for using his work phone to send racially offensive images ...

28 April 2015
The Associated Press

Survey: Most Southern Nevadans want Uber

In this Wednesday, March 18, 2015, photo, the Uber app displays on a smartphone vehicles available for a pickup in downtown Manhattan.

About 75 percent of Southern Nevadans want Uber, according to a survey conducted by the Las Vegas Global Economic Alliance. The finding was just one of several previewed by the LVGEA today from a survey that will be released in full on May 19 ...

28 April 2015
By Conor Shine

Macau pressures place hit on Wynn’s first-quarter earnings

The watery entrance of Wynn Macau.

CEO Steve Wynn used much of a conference call with analysts today to reiterate the tough conditions in China that have weighed down his company’s performance. His message was clear: A government-led crackdown on corruption that began last year …

28 April 2015
By J.D. Morris

Las Vegas man linked to bitcoin poker site facing prosecution

Professional poker player Bryan Micon.

In what’s believed to be an unprecedented move for Nevada, state Attorney General Adam Laxalt announced today that his office is prosecuting an individual tied to a poker website targeted by ...

28 April 2015
By J.D. Morris

Defense asking judge to toss out FBI ruse case

Days after a federal judge ruled the FBI violated a wealthy Malaysian businessman's constitutional rights in an international Internet gambling probe, defense attorneys in Las Vegas are ...

28 April 2015
By Ken Ritter, Associated Press

‘Spec is back’: Developers roll dice by launching major warehouse projects

Developer Doug Roberts is planning a speculative warehouse project on this lot of land seen May 20, 2014 located on the northwest corner of Jones Blvd and Sunset Road.

In a market with a shortage of big warehouse space, developers are moving in with plans to build a number of major ...

28 April 2015
By Eli Segall

Sandoval names former casino exec to state Gaming Commission

Gov. Brian Sandoval today appointed a former longtime Northern Nevada casino executive to replace Joe Brown on the state Gaming Commission. Michonne Ascuaga, the former CEO of ...

27 April 2015
By J.D. Morris
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