Jan. 16 to 22 – Recent Las Vegas News

Monday January 23, 2012 by admin.

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

Jan. 16, 2012 Martin Luther King Jr. day – Bands, step dancers and floats made their way up 4th Street, from Hoover Avenue to Ogden Street, as thousands crowded the sidewalks to watch the 30th annual MLK Day parade

                     It was reported that gaming winnings plummeted to historic depths last year to comprise a record low 46 percent of total revenue. However, spending on other areas, including "food, beverage and other (related offerings)" among Nevada’s casinos hit a record high 34.1% of total revenues, according to figures released by the State Gaming Control Board.

                     Downtown’s Western Casino dealt its last hand at 2 am this morning and is now closed.

Jan. 17, 2012 The Las Vegas new home sales fell to a 23 year low in 2011, when new home sales fell to a low of 3,894. Dennis Smith, president of Home Builders Research Inc., said in a recent report that new home sales bottomed out last year and that some increase should be expected this year.

                     Continuing with real estate news: High-rise condos are selling for less than $200 a square foot, compared with up to $400/sq. ft. at the height of the market and sales fell 6% to 1,308 transactions in 2011

Jan. 18, 2012 The owners of Tivoli Village, the new outdoor mall that opened on the west side of town last year, have announced plans to build a 700,000-square-foot indoor shopping center called Renaissance across the street. The $350 million project is scheduled for completion in 2015.

                      The buffet at Caesars Palace is closed until June or August. In the meantime, breakfast is being served in Rao’s from 7 to 10:30 a.m. for $21.95. There currently is no lunch or dinner buffet.

Jan. 19, 2012 Apparently more than 2,000 people so far have been forced to evacuate the Reno area as wildfires burn out of control.

                            In an unorthodox move, the bankrupt off Strip casino’s largest creditor, Canyon Capital, has announced that it will submit an opening bid of $60 million and possibly as much as $70 million, in a bid to eliminate low-ball bidders. The property was valued at the end of last year at just $46.6 million — $63.9 million when all the inventory and cash in operating accounts is taken into account — and the bidding process is not scheduled to begin officially until Feb. 10.

Jan. 20, 2012 Las Vegas made the list of "Most Stressful Cities" in the U.S., coming in at #2 behind Tampa Bay-St. Petersburg, FL. Factors contributing to the designation included traffic, crime, the economy, and mental health — at 18 per 100,000 people, Las Vegas has the highest suicide rate among the top 10 metropolitans on the list

Jan. 21, 2012 It’s been reported that a 100 acre Henderson Park is in the early phases of construction and should be ready to open by the end of summer. The park will have a 25 acre lake, play structures, a tot lot, bathrooms and a large picnic pavilion that will be able to accommodate up to 1,000 guests for corporate picnics and other events.

Jan. 22, 2012 For anyone interested, an article entitled “Gaming’s spread no threat to Strip” can be found at http://www.lvrj.com/business/gaming-s-spread-no-threat-to-strip-137844573.html.

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