Under the deal, Penn will receive $307.5 million in rent credit applied to five-plus months later this year, beginning in May. Gaming and Leisure Properties said it will conduct a sale process of the property, and Penn can receive a portion of the net proceeds if the Tropicana is sold within two years. The sale […]
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Virus Shouldn’t Crash Las Vegas Home Prices, Economist Says
While much is unknown about how badly the coronavirus pandemic has damaged Southern Nevada’s economy, one economist doesn’t foresee a major housing market crisis here. Mark Vitner, a senior economist for Wells Fargo and Company, said he thinks the area’s housing market will pick up steam quickly once Las Vegas’ tourism-based economy rebounds. […]
Construction On Las Vegas-California Train Could Start This Year
Virgin Trains USA, previously known as Brightline, already operates a high-speed train in Florida. Its California-Nevada project is expected to span 185 miles and take 90 minutes to move passengers between Las Vegas and Victorville, Calif., which is northeast of Los Angeles. A company with plans to build a high-speed train line between Las Vegas and […]
Stocks Rise On Wall Street, Oil Prices Regain Ground
Stocks around the world are clawing higher on Wednesday, and the S&P 500 climbed toward its first gain of what’s been a dismal week. Even the oil market gained ground. Prices for crude have been turned upside down because of how much extra oil is sloshing around following a collapse in demand. After zig zagging […]
Coronavirus Changes The Way Real Estate Is Being Done In The Las Vegas Valley
As political leaders work to figure out plans to reopen our cities, businesses that are considered essential are still trying to work around social distancing guidelines in order to get the job done. Less than two weeks ago, Governor Steve Sisolak ordered a stop to open houses as we continue to monitor COVID-19 in our […]
Nevada Saw Jump In Construction Jobs Amid Coronavirus
Nevada construction employment growth led the nation last month with another Southwestern state, even as the coronavirus pandemic started shutting down the economy and hard hats lost jobs around the U.S. An estimated 101,100 people worked in Nevada’s construction industry in March, up 2 percent from February, tied with New Mexico for the biggest month-to-month […]
What Does A Gaming Reopen Look Like in Las Vegas?
We saw it on March 25. It was something we never thought we’d see: Caesars Palace, empty and dark. And it’s been that way now for about a month. Turns out, if closing was hard, reopening could be harder, says Caesars Palace president Gary Selesner. “In some ways, it’s easier to close than reopen ’cause […]
Las Vegas Doctor Praised For Cleaning Room of COVID-19 Patient
An intensive care unit doctor at a Las Vegas hospital is earning accolades for going out of his way to clean the room of a coronavirus patient. Irene Ibarra, Spring Valley Hospital’s housekeeper normally tasked with sterilizing patients’ rooms, told ABC News she was grateful for Dr. Kevin Tsui’s help. “I feel like ‘Aye doctor!’ … I said, ‘Thank you […]
Las Vegas Mayor: ‘Open Our City. Being Closed Is Killing Us’
Las Vegas is withering with tourists staying home and conventions and businesses closed due to the coronavirus pandemic, and needs to reopen before it dies, the city’s outspoken mayor said. “This shutdown has become one of total insanity,” Mayor Carolyn Goodman said the day after Nevada Gov. Steve Sisolak declared he was nowhere near reopening […]
Las Vegas City Council OKs More Funds For Cashman Isolation Complex
The Las Vegas City Council approved more than $254,000 in emergency services purchases for the quarantine facility for the homeless at Cashman Center. The city has invested upward of $2.8 million in the ISO-Q (isolation/quarantine) facility, officials said when it was unveiled Monday. Clark County has put up $6 million. During its first day of operation on […]
