Here’s some of the news relevant to or about the Las Vegas area or Nevada or gambling in general that came out in the last 7 days:
May 13, 2013 Commercial casinos in the U.S. had a collective win of $37.34 billion in 2012. It was the second-highest total ever, following the $37.52 billion in 2007, and a 4.8% increase over 2011. The total includes land-based, riverboat, and race track casinos in 23 states; Native American casinos are not considered. Nevada had the highest win figure at $10.86 billion, followed by Pennsylvania ($3.16 billion), New Jersey ($3.05 billion), Indiana ($2.61 billion), and Louisiana ($2.40 billion).
The Las Vegas 51s baseball team, which has called downtown’s Cashman Field home for the past 30 years, has been sold for $20 million to the Summerlin Las Vegas Baseball Club LLC, a local joint venture of the Howard Hughes Corporation and Play Ball Owners Group.
May 14, 2013 San Francisco-based Trulia reported today that Las Vegas ranks as the No. 1 undervalued U.S. market despite double-digit gains in median prices in the last year. Las Vegas area homes prices are apparently 24% below what’s justified by market fundamentals such as income-to-price and income-to-rent ratios.
Station Casinos recorded a net loss of $142.1 million for the quarter that ended March 31, 2013 which was primarily due to the company’s $2.475 billion debt restructuring. A year ago, Station Casinos said its net income was $8.9 million.
Hong Kong businessman Richard Suen has been awarded a $70 million judgment against Las Vegas Sands Corp., in a case revolving around Suen’s alleged role in obtaining the company a gaming license in Macau — an arrangement the casino giant claims he did not make good on.
May 15, 2013 The long-anticipated closure of RM Upstairs, the high-concept, sleek-and-sexy second-floor dimension to Rick Moonen’s Mandalay Bay restaurant has happened. It will be transformed into Rx Boiler Room, which will specialize in lower-priced comfort food and is slated to open sometime in July.
The Clark County School District School Board adopted a final budget today of $2.1 billion for the 2013-14 school year that contains a 4% increase (or $97 million).
May 16, 2013 Nevada wide, unemployment was 9.6% for April 2013, down from 9.7% in March and 11.5% in April 2012, the Nevada Department of Employment, Training and Rehabilitation reported this morning. The Las Vegas rate also was 9.6% in April 2013, compared with 9.8% in March and 11.3% in April 2012.
Nevada regulators today approved a merger between Pinnacle Entertainment and rival Ameristar Casinos. The $869 million deal will more than double Pinnacle’s size.
GameWorks Las Vegas that closed it’s Las Vegas Strip location (between Planet Hollywood and MGM Grand Las Vegas) last year after 15 years in business announced today that it plans to reopen at Shopping district Town Square Las Vegas on South Las Vegas Blvd. (south of the Strip) this coming November.
May 17, 2013 Las Vegas-based Pinnacle Entertainment’s $869 million merger with Ameristar Casinos (see "Today’s News" 5/1/2013) has been officially approved by Nevada gaming regulators.
It was announced that Terrible’s Hotel & Casino which had continued to operate under the former Terrible Herbst brand name following a ownership change due to Chapter 11 reorganization is now to get a new identity as the Silver Sevens Hotel & Casino.
May 18, 2013 PRiSM, the brand new show from the eight-member, all-male, hip-hop dance crew Jabbawockeez, debuts in its custom-built theater at Luxor tonight.
Click on –> http://www.reviewjournal.com/real-estate/resale-homes-report-existing-homes-sold-may-1-7 if you’d like to see a Las Vegas area “Resale Homes Report: Existing Homes Sold May1-7”.
May 19, 2013 Click on –> http://www.reviewjournal.com/business/las-vegas-conventions-113 if you want to know what conventions are in the Las Vegas area this week
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