Las Vegas business briefs

sgreen@lasvegassun.com

Wednesday, Sept. 23, 1998 | 11:12 a.m.

LADBROKE TOLD TO SELL U.K. GAMBLING SHOPS -- The British government today blocked Ladbroke Group Plc's $610 million acquisition of the Coral betting shops from Bass Plc as anti-competitive and told Ladbroke to sell the chain. The ruling follows months of lobbying by opponents of the acquisition, which would have taken Ladbroke's share of the retail betting market to 38 percent from 26 percent. Ladbroke was counting on the acquisition to cut costs as it fused the chain with its own 1,900 outlets.

LEADERS TO BE INDUCTED INTO GAMING HALL OF FAME -- The American Gaming Association will induct several industry leaders into the Gaming Hall of fame at a gala event Thursday night at Caesars Palace. The AGA will honor Tony Marnell and Lud Corrao of Marnell Corrao Associates for the architectural firm's work on casinos such as the Rio and Luxor; Thomas Young Sr., founder of casino sign company Young Electric Sign Co. (YESCO); J.K. Houssels Jr., who was chairman of Showboat Inc. until the company was purchased by Harrah's Entertainment Inc.; and Siegfried & Roy, magicians credited with helping Las Vegas reinvent itself as a family vacation destination. Also in attendance will be Gov. Bob Miller, Mrs. United States Michele Rogers Berk and AGA Chief Executive Frank Fahrenkopf.

FIRST SECURITY BANK BUYS INVESTMENT CONCERN -- First Security Corp. of Salt Lake City today said it agreed to buy investment bank Van Kasper & Co. for $100 million in stock, as the bank expands its range of investment banking and personal financial services products.

LV RETAIL UPDATE -- Peccole Nevada Corp. said a PF Chang's Chinese restaurant will be developed at the northwest corner of Charleston and Rampart boulevards. The Garlic Cafe reopened under new ownership at 3650 S. Decatur Blvd. The Fourth R, a computer training center, opened in Green Valley at 4350 E. Sunset Road. New merchants at the Galleria at Sunset mall include a Taco Maker and Sanrio, a children's gift store.

NEW DEVELOPMENT AT LV'S CHINATOWN -- The Great China Industrial Group said it's building Great China Plaza, a 24,000-square-foot retail and professional center on Spring Mountain Road in the Chinatown area.

NAIOP GETTING POLITICAL -- The local chapter of the National Association of Industrial and Office Properties is re-establishing its political committee. Michael Mixer, chairman of the Commercial Real Estate Political Action Committee, said it will raise money to donate to candidates who support the commercial real estate industry.

LV GAS PRICES DOWN, BUT OVERALL COST OF LIVING INCREASES -- AAA said the average retail price for unleaded regular gasoline is $1.15 per gallon in Las Vegas this month. That's down 1 cent from last month and down 23 cents from September 1997. But First Security Bank said the overall cost of living in Las Vegas rose 0.1 percent in August. August increases in groceries, clothing and utilities were offset by decreases in transportation, dining out and housing, First Security said. Prices for education, communication, health care and recreation were unchanged.

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