Business and Economy - Las Vegas Sun

Daily, local business news powered by Las Vegas Sun and In Business Las Vegas.

Mandalay Bay's Rumjungle nightclub files for bankruptcy: March 17, 2010; By Steve Green; The owner of the Rumjungle nightclub at Mandalay Bay resort in Las Vegas filed for Chapter 11 bankruptcy reorganization Tuesday, saying it needs court protection to prevent Mandalay Bay from shutting it down.

CityCenter contractor says it expects payment from MGM Mirage: March 17, 2010; By Steve Green; CityCenter general contractor Perini Building Co. today weighed in on its lien dispute with the $8.5 billion resort complex in Las Vegas, saying it will continue with efforts to collect the $491.2 million it says is owed.

Asian casino operator invests in MGM Mirage: March 17, 2010; By Steve Green; Asian casino operator Genting Malaysia Bhd. today said it invested again in Las Vegas-based MGM Mirage by buying $18 million of notes -- part of an $845 million debt issuance by MGM Mirage.

Mayor Oscar Goodman speaks Tuesday at the grand opening of MEET Las Vegas Tuesday.

Downtown events center celebrates grand opening: March 17, 2010; By Tiffany Gibson; MEET Las Vegas, a three-story events center downtown equipped with innovative lighting and technology, celebrated its grand opening Tuesday. Jodie Rocco, 51, of Las Vegas said she has been waiting for the facility at South 4th Street and Bridger Avenue to open for four years.

Casino credit company to settle class-action lawsuits: March 16, 2010; By Steve Green; Casino ATM and credit services company Global Cash Access Holdings Inc. has agreed to settle the last two class-action lawsuits pending against it.

N.Y. business leader to become Las Vegas Chamber president: March 16, 2010; By Sun Staff; The leader of the largest business association in New York will become the new president and chief executive of the Las Vegas Chamber of Commerce.

Slots have gotten looser, not that the average gambler can tell: March 16, 2010; By Liz Benston; While the recession has slot players tightening their spending habits, Nevada casinos appear to be loosening up. From 1995 through 2008, the percentage of wagers kept by Nevada slot machines crept up while the percentage paid out to players declined.

Hard Rock Hotel narrows loss, searches for president: March 15, 2010; By Amanda Finnegan; The Hard Rock Hotel and Casino said it narrowed its losses by about 34 percent last year, according to a filing today with the Securities and Exchange Commission.

Las Vegas-based Pinnacle Entertainment names CEO: March 15, 2010; Staff and wire reports; Pinnacle Entertainment Inc. of Las Vegas said Monday that it named former Multimedia Games Inc. executive Anthony M. Sanfilippo as CEO and president.

The floor of Casino MonteLago sits mostly empty on its final afternoon on Sunday. The casino's closure is a result of the Ritz-Carlton's announcement that it will close May 2.

Casino's closure brings mixed outlooks on Lake Las Vegas: March 15, 2010; By Erin Dostal; The cheerful Irish music piped through the shops at Lake Las Vegas belied the gloom inside Casino MonteLago, which was set to close at midnight Sunday. More than 170 people were expected to lose their jobs as a result of the closure.

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Commercial real estate projects earn honors: March 14, 2010; By Sun Staff; The Freeman building and Corporate Center VI (2360 Corporate Circle) in Green Valley won "Best Building" honors for Southern Nevada at the 13th Annual NAIOP Spotlight Awards on Saturday.

Fireworks explode over the Aria hotel-casino during the official opening Wednesday, Dec. 16, 2009. Aria is the centerpiece of the $8.5 billion CityCenter project, which is a partnership between MGM Mirage and Dubai World.

CityCenter, lead contractor dispute $492 million claim: March 12, 2010; By Steve Green; MGM Mirage today disclosed that disputes have emerged involving hundreds of millions of dollars between its CityCenter joint venture and the $8.5 billion project's primary general contractor. Perini Building Co. on Thursday delivered a notice of its intent to file mechanics’ liens totaling about $492 million against CityCenter.

MGM Mirage to sell its stake in Atlantic City's Borgata: March 12, 2010; By Steve Green; MGM Mirage today said it entered into a settlement agreement with the New Jersey Division of Gaming Enforcement under which it will sell its 50 percent stake in the Borgata and related leased land in Atlantic City.

Business ABCs: Attendees learn about how to start or expand a business from a panel of experts during the Henderson Entrepreneur Fair.

Would-be businesses learn from mentors: March 12, 2010; By Buck Wargo; It seems like everyone wants to start a small business or be the budding entrepreneur these days — and many point to the economy as the reason.

Friends are all around: March 12, 2010; We’ve all heard the rap about living in Las Vegas.

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In Business TV

Dec. 11 Bank of America responds to criticism from U.S. Sen. Majority Leader Harry Reid about its home loan modification program. Plus, a couple of veteran gamers ... Watch »

Dec. 4 Five years and $8.5 billion later, Citycenter opens its doors during bleak times. Will the gamble pay off? Plus, will a move to ensure union ... Watch »

Nov. 27 Federal,state and local authorities join forces to fight mortgage fraud. Plus,a local doctor cops a plea in the medical mafia case. And, is the recession ... Watch »

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