Las Vegas business news briefs

sgreen@lasvegassun.com

Wednesday, May 6, 1998 | 9:15 a.m.

* FACE-IDENTIFICATION ATMs DEVELOPED BY WELLS FARGO PARTNERSHIP FOR CASINOS -- Wel1s Fargo Bank and Mr. Payroll Corp. are creating a Las Vegas-based joint venture to sell a new generation of financial services vending machines for casinos. The joint venture, InnoVisions Inc., will include 200 ATMs Wells Fargo now operates in casinos through its Cash Center subsidiary. And a new financial services vending machine, called Quest, will initially be tested in up to 10 Nevada casinos. Quest will integrate various cash sources into a single device -- casinos now use ATMs, point of sale devices and check cashing windows. Quest can do financial transactions without a picture I.D., ATM card or credit card. Customers' identities will be verified using TrueFace Engine, a patented face recognition system. Mr. Payroll Corp. said it introduced the world's first self-service check cashing machine in June 1997.

* SIERRA PROFIT, REVENUE UP -- Sierra Health Services Inc. of Las Vegas today said its profit for the quarter ended March 31 was $12.2 million, or 66 cents per share, up 25 percent from the $9.8 million, or 54 cents earned in the year-earlier quarter. Revenues increased 23 percent to $210 million. Sierra also announced a three-for-two stock split aimed at improving liquidity of the stock.

* OCEAN SPRAY TRIES BOOSTING ITS FLAT SALES -- Hoping to boost flat sales of $1.43 billion, Ocean Spray Cranberries Inc. has introduced a premium line of 100 percent juices under the Wellfleet Farms label. "Sales of 100 percent juice blends have reached $100 million annually, clearly demonstrating consumers want this choice in juices," said Ocean Spray Chief Executive Officer Tom Bullock as he unveiled the new line at a Chicago trade show. Ocean Spray has a Henderson plant.

* L.V. BUILDER'S PROFIT FALLS -- Saxton Inc. of Las Vegas today reported a quarterly profit of $1.2 million, down from $1.8 million in the year-ago quarter as revenue of $12.7 million fell from $16.5 million. Saxton said sales fell because its single-family home developments sold out quicker than anticipated, leaving it without inventory to sell; and to delays in permitting.

* GAMING PATENT ISSUED -- Best Bet Products Inc. of Las Vegas said it received a patent for slot machines aimed at prompting gamblers to increase their bets. It allows players to increase their wagers after the reels have begun spinning, and after at least one reel has stopped spinning and is showing a symbol in the pay line position.

* NEW TOYOTA LOCATION -- Cross-Continent Auto Retailers Inc. of Amarillo, Texas, announced the relocation and grand opening of Toyota West in Las Vegas at 6300 W. Sahara Ave. Cross-Continent has six retail stores in Las Vegas selling eight brands. The new Toyota West has a 14,000-square-foot showroom, a 42,000-square-foot service center and a 5,600-square-foot parts department.

* B OF A SUES BORROWER -- Bank of America sued Las Vegas Pharmaceutical Distributors Inc., alleging the bank is owed more than $2 million. The debts stem from a loan and revolving line of credit dating to December 1994. The bank contends it is owed $1.8 million in principal and almost $21,000 in interest on the line of credit and $167,000 in principal and $41,270 in interest on the loan. The suit asks that a receiver be appointed to manage the company. Also named as a defendant is the DeBree Family 1990 Trust. Company officials had no comment Monday.

* UP SAYS CONGESTION CLEARED -- The congestion that has plagued the Union Pacific Railroad since its merger with Southern Pacific has been cleared, UP's chief executive officer said today. "We have gotten rid of the congestion. What we're working on now is restoring excellent service. That's going to take awhile," Dick Davidson said at a news conference at UP's Centennial Yards in western Fort Worth. The congestion led to a service jam that has cost Texas companies an estimated $1.1 billion and caused federal regulators to declare a transportation emergency.

To contact SUN Business Editor Steve Green, call 259-4083 or e-mail sgreen@lasvegassun.com