Mar 08
The unemployment rate in Las Vegas hit 10 percent in January making it the highest percentage of unemployment since 1983.
The statewide unemployment rate was 9.4 percent, up from 8.4 percent in December. Nevada’s unemployment numbers continues to surpass the national average, which was 7.6 percent in January.
“Nevada’s employers scaled back jobs by nearly 60,000 in January from the same month a year ago. Job losses are broad based, but a few sectors are absorbing significant losses. For instance, construction employment is down by 20,100, leisure and hospitality is down by 19,000, and professional and business service employment is down by 10,800 over the year,” said William Anderson, cheif economist for the Nevada epartment of Employment, Training & RehabilThere are more than 106,000 unemployment claims being filed every week. The state unemployment trust fund is also in danger of running out of money and may have to start borrowing from the federal government by the end of the year.
http://www.lasvegasnow.com/Global/story.asp?S=9959277&nav=168XDWn7
Mar 06
You wouldn’t think so, but there are a lot of discounts available in Las Vegas during the holiday season like Christmas and the Summer vacation period. Because Las Vegas is trying to become a more popular family travel destination hotels offer discounts when families are likely to travel.
Now is an especially good time to visit Las Vegas. Due to tough economic times the hotels are discounting their prices even more than normal. A 3 day holiday for 2 can be found for as little as $400 for both of you. As well as discounts, Las Vegas hotels sometimes include complimentary extras such as free tickets to shows, free meals and complimentary game passes. If you’re looking for a cheap holiday this summer, look no further than Las Vegas.
Feb 16
By Jen Leo
I was just in Las Vegas this weekend and stayed at TI for the first time. The rooms, which were renovated in August 2008, are terrific. Everything down to the hallways have been modernized. I was in a ”Deluxe Room” on an Expedia deal ($119/night on the weekend) and already felt upgraded — compared with other hotel stays — just because the room was so clean and well designed. And now they’re offering quite the deal. Get a free night’s stay with a spa purchase. Who says budget travelers can’t pamper themselves once in a while?
Deal: Spend at least $169 at WET the Spa & Salon at TI, and the hotel will throw in a room for free. But wait, there’s more. Spend $299 and you can have two nights for free. Call (800) 944-7444 and mention “Wet09? to get the deal. Note: The free room will be credited only after spa and salon services have been taken and paid in full.
How to spend your $169: Get an extended signature 75-minute facial for $175 or mix and match with a teeth-whitening session ($99) and an airbrush tan ($75). There’s lots of spa and salon treatments to choose from on the WET website.
Caveat: Valid Sunday through Thursdays only.
When: Book by March 23 for travel through March 31, 2009
http://travel.latimes.com/daily-deal-blog/index.php/las-vegas-treasure-i-4045/
Feb 13
LAS VEGAS: Casino operator Las Vegas Sands said Wednesday that it lost $136.5 million in the fourth quarter, down from a profit of $39.9 million a year earlier, as gambling markets continued to decline in Las Vegas and Macau.
The company reported Wednesday that it lost 27 cents per share on revenue of $1.09 billion that was slightly higher than its fourth-quarter 2007 revenue of $1.04 billion. In the year-ago period, the company earned 11 cents per share.
“I don’t need to remind you of the significant uncertainty the economy and the markets are currently experiencing,” William Weidner, president and chief operating officer of Las Vegas Sands, said in a conference call with investors.
“People in both of those markets are clearly spending less once they arrive,” Weidner said. “While we cannot control consumer confidence or know when the market conditions will improve, what we can and will do is control our cost structure and focus all of our collective efforts on the disciplined execution plan.”
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Feb 05
For the first time since 1979, a developer plans to build a new casino in downtown Las Vegas.
The Las Vegas Review Journal is reporting that the company, Forest City hopes to build the property on a 6-acre site within the Union Park Development.
In exchange for the land, Forest City officials say they’ve agreed to first build a new city hall.
However, that deal is being targeted by the culinary union and some city councilmen who say the city hall is unnecessary during a recession.
http://www.ktnv.com/Global/story.asp?S=9769406
Jan 30
The Las Vegas Strip will soon be going dark, and the reason is to help Mother Nature. In just two months, Las Vegas will participate in a global movement known as “Earth Hour,” all in an effort to raise awareness regarding climate change and global warming.
Mayor Oscar Goodman’s initial response was full of doubt when the folks from the World Wildlife Fund told him they wanted Las Vegas to go dark during Earth Hour, a global event that calls attention to climate change.
“I said you’re out of your minds. There’s no way in the world that any of these casinos are going to turn their lights out,” says Goodman.
Earth Hour, started several years ago in Australia, has grown into a global event. This year on March 28 at 8:30 pm, when the lights go out for an entire hour, Las Vegas will lead more than 240 cities from 70 different countries.
“We know that you all are at the cutting edge of these issues because you understand the need to conserve our natural resources and the impact if we don’t take the necessary actions to save our planet. We knew saving the planet wasn’t a job for wimps (and) this is a way of telling the whole world that we are something other than just a tourist destination - we are a city that cares about those of us who live here,” continues Mayor Goodman.
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Jan 30
The world knows Las Vegas for gambling and good fun. Investors knew Las Vegas as a great place to flip a house and make tons of cash. But the days of making a quick buck are over according to analyst Jeremy Aguerro.
Still, he says housing may be the key, “I think that it was housing that got us into this mess. I think that it’s housing that will lead us out of this mess.”
Aguerro says for the last seven months the number of resale homes increased. Sure, 65-percent of those sales were bank owned properties. Half of all homeowners in Nevada owe more than the home is worth. The state leads the nation in that category, but Aguerro says those sales indicate growth.
“All the fundamentals that still made this arguably the most prolific economy in the United States during the past 20 years, exist. In some ways they exist more today than they existed three or four years ago,” he said.
Preview Las Vegas 2009 is an economist forecast for the next 12 months. Tourism is the major driving force behind the Las Vegas economy and economists say it is faltering. The headline from Preview Las Vegas is 2009 will bring fewer visitors, more job losses and tough times.
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Jan 24
Making the most of your Las Vegas holiday requires a certain savvy. There are many pitfalls that await travellers and they can cost you money and spoil your vacation. Stay away from the following to make you Las Vegas travel more enjoyable.
- The money wheel, aka the Big Six Wheel or the Wheel of Fortune, is the big spinning clicking wheel that people think is a good idea to warm up on. However, it has the worst return of any game in a casino with about 44% of every dollar being kept by the casino.
- Signing up for every reward is just asking for junk mail, spam and telemarketers. Casinos have to market themselves just like any other business and getting people to sign up for their mailing lists with the promise of rewards is just another way they do it.
-Keeping all your money on you. If you have to stop playing to get more money will let you take a break that you probably need. If you happen to win big, it’s also a good idea to not keep your winnings too close at hand.
Jan 12
When is the best time to visit Las Vegas? It’s a common question asked by travelers. There are a couple good answers depending on the person.
So when exactly should I visit Las Vegas? That is up to you. If you like outdoor activities like golf and tennis then Spring or Fall would be best for you as it is still warm but not too warm and there is very little rain. If you really like the heat and the sun then Summer would be your best bet. Summer weather is hot with the temperature hovering above 100 F during midday. Winter is still a good time to see Las Vegas if you don’t like the heat but it is still warm enough for shorts and t-shirts during the day.
Jan 08
LAS VEGAS—Tropicana Entertainment LLC says it has hired Ron Thacker as president of its casino on the Las Vegas Strip.
The company said in a release on Tuesday that the former vice president of casino operations at Fontainebleau Resorts will oversee all property operations once regulators approve the hiring.
Tropicana says Thacker has more than 30 years of experience in the industry. He’s held executive positions at the Flamingo Las Vegas, the former Casino Windsor in Ontario, Canada, and the Flamingo Hilton in Kansas City, Mo.
The Tropicana Las Vegas opened in 1957 on the south end of the Las Vegas Strip. It has 1,800 rooms in two high-rise towers of 21 and 22 stories.
Privately held Fontainebleau Resorts is building a $2.8 billion resort tower on the north Las Vegas Strip. It’s due to open late this year with almost 4,000 hotel rooms, condominiums, a casino and spa.
http://www.mercurynews.com/news/ci_11386581