11/28 to 12/4 – Recent Las Vegas News

Monday December 5, 2011 by admin.

Here’s some of the news relevant to or about Las Vegas Nevada that came out during the last week:

Nov. 28, 2011 The empty land on the Strip that once was the site of the New Frontier will remain empty at least for the foreseeable future. The Israeli company that bought the 36-acre site in May 2007 for more than $1.24 billion has written off $500 million of the investment.

Nov. 29, 2011 Vegas! The Show, which performs in the Saxe Theater in the Miracle Mile Shops, has been nominated for four Broadway.com awards in the "Vegas" category, including Best Lead Actor and Actress.

                     The Hooters hotel casino is scheduled to be sold today at auction under a deal disclosed in U.S. Bankruptcy Court.

Nov. 30, 2011 Cantor Gaming continues to build its position in Las Vegas with the announcement that it will take over the sports book operations at the Palms. The acquisition now gives Cantor control of the sports books at seven Las Vegas casinos.

                      Italian restaurant franchise Buca di Beppo is expanding to the Las Vegas Strip and hiring 75 workers for its restaurant at the Excalibur. The restaurant is scheduled to open Dec. 23 in the space formerly occupied by Regale Ristorante Italiano.

                     It was reported today by the Center for Business and Economic Research that the Southern Nevada Index of Leading Economic Indicators was essentially unchanged in Nov. at 123.44, barely up from 123.39 in Oct..

                     Las Vegas based housing research firm SalesTraq reported a median existing-home price of $104,900 in September, a decrease of 10.9 percent from the same month a year ago. It was, however, up from $103,500 in August with the median price remaining unchanged in October.

Dec. 01, 2011 One of the last mega-projects to be announced before the economic downturn is officially toast. Elad Group, which purchased the 36-acre site where the New Frontier used to be to build a $5.4 billion Plaza Hotel complex, has announced that the project will not go forward.

                     A new report confirms there’s a slight improvement in the Las Vegas job market. In spite of the slight improvement, the unemployment rate in the Las Vegas metro area ranks among the nation’s highest at 13.1%.

                     The Las Vegas Monorail Co. celebrated its 50 millionth rider today.

Dec. 02, 2011 It was announced that 2 Las Vegas area shopping centers have been sold. The 1st is the 4G, a neighborhood shopping center at 4215-4275 E. Charleston Boulevard, at Lamb Boulevard, which was purchased by Primestor Development Inc. of Los Angeles. The 2nd is the Anthem Highlands Shopping Center in Henderson that was purchased by the Excel Trust of San Diego.

                     An agreement was announced today to sell the financially troubled Nevada Cancer Institute to the University of California, San Diego Health System.

Dec. 03, 2011 Apparently Steve Wynn, one of Vegas’ most successful casino owners and operators, is in negotiations with New England Patriots owner Robert Kraft to build a $1 billion casino adjacent to Gillette Stadium.

Dec. 04, 2011 The full Rock ‘n’ Roll Las Vegas Marathon was run today starting about 4 pm from Mandalay Bay Resort Hotel and Casino and the half-marathon started at about 5:30 pm from the same location. More than 44,000 runners were expected to take part.

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