Ritz-Carlton Lake Las Vegas to close in May

Feb. 8, 2010

By Amanda Finnegan

The Ritz-Carlton Lake Las Vegas in Henderson will close its doors May 2. "Our owners, Village Hospitality, decided they could no longer fund the hotel," Ritz-Carlton spokeswoman Vivian Deuschl told the Sun.

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Rate hike helps NV Energy swing to profit in quarter

Feb. 8, 2010

By Sun Staff

NV Energy Inc. today reported a fourth quarter profit of $4.2 million, or 2 cents per share -- a reversal from its loss of $2.1 million, or 1 cent per share, for the same period in 2008. Revenue of $772.9 million was up from $766.1 million, with the company attributing most of the increase to a rate hike.

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MGM Mirage may leave New Jersey in dispute over Macau partner

Feb. 8, 2010

By Steve Green

MGM Mirage today said it’s in talks that could result in the sale of its stake in the Borgata hotel-casino in Atlantic City in order to settle an investigation by New Jersey regulators into the suitability of its partner in the Chinese region of Macau.

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Las Vegas Sands declares dividend on some shares

Feb. 5, 2010

Associated Press

Gaming and resort company Las Vegas Sands Corp. on Friday declared a quarterly dividend of $2.50 per share on its 10 percent series cumulative perpetual preferred stock.

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CityCenter condos may outperform market

Feb. 5, 2010

By Buck Wargo

CityCenter is starting to finalize sales of condominiums, which coincides with already difficult conditions in the Las Vegas high-rise condo market, analysts said.

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Hints of hope

Feb. 5, 2010

There has understandably been plenty of doom and gloom about Nevada’s economy — the indicators are sluggish, from unemployment to foreclosures. However, at the Las Vegas Chamber of Commerce’s annual meeting to look ahead, there was some tempered optimism.

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Moving on

Feb. 5, 2010

President Barack Obama’s administration has declared that it is “done” with Yucca Mountain, the proposed nuclear waste dump 90 miles northwest of Las Vegas.

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Economic woes have deep roots

Feb. 5, 2010

By Louis Overstreet

There is a tendency in most of us to internalize the reasons for our successes while we dismiss our failures by transferring blame to situations or persons seemingly external to our control.

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Molasky center a pioneer among LEED projects

Feb. 5, 2010

By Buck Wargo

More than two years after his company opened the Molasky Corporate Center — the pioneer high-end green development in the valley — Richard Worthington said the concept is growing in popularity and downtown Las Vegas will come to symbolize it.

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Foreclosures hampering green homes

Feb. 5, 2010

By Buck Wargo

Foreclosures that are depressing home values could temporarily slow the incorporation of green features into homes, a consultant to the homebuilding industry said.

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World Market Center blazes trail for LV diversification

Feb. 5, 2010

By Buck Wargo

During Preview Las Vegas, the World Market Center was touted as an example of Southern Nevada economic diversification.

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Q&A: Robert Graff

Feb. 5, 2010

By Richard N. Velotta

For a company operating in a global market, it’s a plus to have a marketing executive fluent in seven languages.

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Banks lament loss of interest income

Feb. 5, 2010

By Buck Wargo

Community and regional banks, facing the recession and decline in interest revenue, are getting more aggressive on business loans in Las Vegas.

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Deutsche Bank writes down value of Cosmopolitan by $103 million

Feb. 4, 2010

By Steve Green

Deutsche Bank AG, which foreclosed on and is completing the Cosmopolitan casino resort in Las Vegas, said Thursday it wrote down the value of the project by another 75 million euros — or $103 million. The write-off reflects Deutsche Bank’s reduced profitability expectations for the resort that is due to open later this year.

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Company acquires Travelocity subsidiary, plans Las Vegas ticket kiosks

Feb. 4, 2010

By Sun Staff

Miami-based Entertainment Benefits Group has acquired Travelocity on Location, a Travelocity.com subsidiary, and will operate 30 Las Vegas ticket sales locations. Alissa Bavli, vice president of sales and marketing for EBG, said the acquisition is a move by the company to branch out.

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