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December 20, 2014

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Eli Segall

Business reporter

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Story Archive

NV Energy’s CEO pumps up profits, walks away with millions
Sunday, June 29, 2014
When Michael Yackira took charge of NV Energy in 2007, the company was earning big profits just a few years after it almost went bankrupt. Nevada’s main electric utility stayed in the black on his watch, despite ...
Banking regulators ease scrutiny of Las Vegas lender
Friday, June 27, 2014
U.S. banking regulators have eased their scrutiny of a Las Vegas lender that was bleeding millions of dollars during the recession but is now profitable again. The Federal Deposit Insurance Corp. disclosed...
Want the Palms Place rooftop penthouse? You can snag it for $38 million
Friday, June 27, 2014
Phil Maloof is ready to part ways with his flashy rooftop party pad at the Palms. Among the lavish amenities offered in the residence are ...
Nevadans headed for foreclosure not as quick to abandon home, report says
Wednesday, June 25, 2014
Nevadans who are on track to lose their homes to foreclosure aren’t moving out nearly as often as they used to. But the Silver State still has ...
How to do a short sale
Monday, June 16, 2014
Selling a house through a short sale is about as fast and easy as swimming through a swamp.The sales process can involve stacks of paperwork, back-and-forth calls and emails with bankers and real estate agents, and sudden changes in rules and procedures. Completing a deal can take months, maybe a year, all so an underwater borrower can get out of a house that plunged in value and a buyer can get a good deal ...
Magazine ranks Allegiant among top financial performers
Thursday, June 12, 2014
Allegiant Air, Las Vegas’ hometown carrier, is known for its cheap fares, frequent delays and numerous add-on fees. But the airline also is a cash cow, and based on financial performance, it...
This Las Vegas bank eager to do business with would-be marijuana dispensary
Wednesday, June 11, 2014
If finance executives are worried about getting involved with medical marijuana clients, don’t tell Las Vegas banker John Sullivan. First Security Bank of Nevada has signed on to ...
Las Vegas home prices climbing again; short sales tapering off
Tuesday, June 10, 2014
The median sales price of previously owned single-family homes last month in Southern Nevada was $195,000, up 1.6 percent from April and 14.7 percent from a year ago ...
Strip not yet maxed out on shopping
Sunday, June 8, 2014
Fashion Show Mall, the Grand Canal Shoppes, the Miracle Mile Shops, the Forum Shops, Crystals, the Linq, the Park ... it may not be long before the Entertainment Capital of the World becomes the Shopping Capital of the World. But the people putting their money on the line insist there’s room for more retail — of the right kind.
Bondholders say Caesars defaulted on debt terms
Friday, June 6, 2014
Bondholders are ratcheting up pressure on Caesars Entertainment Corp., saying the debt-laden casino giant defaulted on the terms of possibly more than $1 billion in debt when it sold four casinos to an affiliate this year. Las Vegas-based Caesars, which received ...
UNR’s partnership with MountainView Hospital to boost doctor training in LV
Friday, June 6, 2014
Las Vegas’ critical doctor shortage could finally get some relief. MountainView Hospital and University of Nevada School of Medicine officials said Thursday they will work to create ...
Judge awards Ruvo’s company $5 million-plus in case against competitor
Friday, June 6, 2014
After years of court battles, Las Vegas alcohol distributor Larry Ruvo’s company has been awarded more than $5 million from a competitor that was found to have illegally undercut him. But whether Ruvo collects all of his court-ordered payments is ...
Bally to acquire Israeli online-gaming company
Thursday, June 5, 2014
In his first big move since retaking the helm of Bally Technologies a few weeks ago, CEO Dick Haddrill is buying an Israeli online-gaming firm. Bally, a Las Vegas slot-machine maker, said today it reached a deal to acquire ...
Cowabunga Bay to open with a splash July 4 in Henderson
Thursday, June 5, 2014
After missing its planned Memorial Day opening, Cowabunga Bay Water Park is set to open July 4. The 23-acre Henderson attraction is still under construction but is coming together. Developers are finishing building the slides and need to...
Company announces plan for 2nd solar plant at Nellis AFB
Wednesday, June 4, 2014
A Silicon Valley solar-panel maker is teaming with NV Energy to build another solar plant at Nellis Air Force Base, helping Nevada’s main electric utility move away from...
Las Vegas housing market going big — as in master-planned — again
Wednesday, June 4, 2014
Developers around the valley are gearing up to build mini-cities that, during the recession, either went bankrupt, were seized through foreclosure or were left on the drawing board. Dirt is being moved, utility lines are going in and model homes are planned in massive communities. If all goes as planned, the master-planned communities would ...
Warehouse construction about to make a comeback in Las Vegas
Thursday, May 29, 2014
Speculative construction of industrial projects turned out to be a bad bet in the Great Recession. But with the economy turning the corner in the Las Vegas Valley, developers are ...
County Family Services building up for sale
Wednesday, May 28, 2014
Owners of a Clark County child-protection agency’s headquarters want to sell the building for $18 million, a big premium over both its purchase price and the going rate for office properties. Brokers with CBRE Group sent out...
Corner Bakery Cafe coming to Las Vegas
Tuesday, May 27, 2014
A San Francisco Bay area restaurant franchisee is bringing Corner Bakery Cafe to Southern Nevada. Anil Yadav, chief executive of Fremont, Calif.-based JIB Management, plans to...
Medical clinic, pharmacy opening at Las Vegas airport
Tuesday, May 27, 2014
Need a last-minute cure for that Vegas hangover before flying home? Maybe a vaccination or antibiotics before a business trip? If you’re at McCarran International Airport, just head to the pharmacy. Las Vegas will soon...
Is now the right time to buy, sell or rent?
Sunday, May 25, 2014
Las Vegas' housing market has been on a stomach-turning roller coaster ride for a decade. Home prices soared to absurd heights during the bubble, crashed hard and fast during the recession, then rose from the garbage heap at one of the fastest rates nationally. Now, for the first time in years, the market ...
What about apartments in the valley?
Sunday, May 25, 2014
With its sprawling subdivisions of cookie-cutter stucco homes, Las Vegas may not seem like a big apartment market.
Home prices through the years
Sunday, May 25, 2014
When people talk about Las Vegas housing prices, they usually marvel at how crazy things got during the bubble, how terrible they were ...
Homebuilder American West is top buyer in auction of southern valley land
Thursday, May 22, 2014
Federal lands officials sold 87.5 acres of southern Las Vegas Valley property today at auction for $18 million. Homebuilder Larry Canarelli’s American West Development bought ...
BLM set to auction 120 acres in southern LV Valley
Tuesday, May 20, 2014
U.S. officials hope to fetch at least $19 million by selling 120 acres of southern Las Vegas Valley land. The Bureau of Land Management plans to hold an auction at ...
Number of underwater homeowners in Las Vegas continues to subside
Monday, May 19, 2014
Las Vegas’ underwater housing crisis keeps abating, even as the valley remains ground zero for upside-down borrowers. At its peak two years ago, 71 percent of Las Vegas-area borrowers were ...
Bally Technologies bringing back previous CEO
Thursday, May 15, 2014
After less than a year and a half at the helm, Bally Technologies CEO Ramesh Srinivasan is being replaced by the man he replaced. The Las Vegas slot-machine maker said...
Developer announces opening date, new name for Summerlin mall
Thursday, May 15, 2014
Scrapping the Shops at Summerlin name, developer Howard Hughes Corp. says its massive retail and office project near Red Rock Resort will open Oct. 9 as ...
Shops at Summerlin signs its first office tenant
Tuesday, May 13, 2014
Owners of the Shops at Summerlin have signed their first tenant for the project’s office tower. BusinesSuites, which offers furnished office space with a receptionist, phone and mail service, conference rooms and other typical workplace amenities, has taken roughly...
Report: Las Vegas housing market ‘stuck in neutral’
Tuesday, May 13, 2014
Las Vegas’ new-home market continues to slump this year, with sharp drops in sales and development plans. Local builders sold 428 new homes last month, down...
Parking no longer free at these downtown Las Vegas properties
Monday, May 12, 2014
Drivers who enjoyed free parking downtown at Main Street Station or the California now have to reach for their wallets. Boyd Gaming Corp. is charging daily rates of ...
Stratosphere owner reports 3 percent increase in 1Q revenue
Monday, May 12, 2014
American Casino & Entertainment Properties slashed its interest expenses and booked higher hotel, food and beverage, and retail and entertainment revenue, though it posted a slight dip …
The resurrection of real estate developer Jim Rhodes
Sunday, May 11, 2014
Powerful real estate developer Jim Rhodes has had a rocky relationship with Southern Nevada, including bankruptcy, allegations of reneging on deals and a legal fight to build near Red Rock Canyon. Now, he’s trying his hand at ...
Slight dip in Las Vegas home prices as investors back off
Thursday, May 8, 2014
For just the third time in more than two years, Las Vegas home prices have slipped a little. The median sales price of previously owned single-family homes in Southern Nevada last month was ...
Southwest Gas sees quarterly revenue slide
Tuesday, May 6, 2014
Las Vegas-based Southwest Gas, which provides natural-gas service to 1.9 million customers in Nevada, Arizona and California, reported earnings today for the quarter ending ...
Miracle Mile Shops makeover to include new restaurants
Tuesday, May 6, 2014
Owners of the Miracle Mile Shops plan to rip out the last exterior remnants of the mall’s former North African decor to open new restaurants. Tristar Capital and RFR Holding are planning...
In talk at UNLV, billionaire Adelson insists he’s ‘very socially sensitive’
Las Vegas Sands boss makes moral case against online gambling
Tuesday, May 6, 2014
When most people think of Sheldon Adelson, they usually think of the billions he’s made off gamblers and conventioneers. They think of his luxury Las Vegas casinos, his right-wing politics, his heavy investments in Macau. Odds are, they don’t think of him as a moral savior who wants to protect the poor — but Adelson sure seems to. The 80-year-old casino mogul...
Big financial boost on the way for North Las Vegas?
Sunday, May 4, 2014
Few cities in the country have been hit harder by the Great Recession than Las Vegas;' neighbor to the north. But new Mayor John Lee has something to smile about...
Executive leaves NV Energy for Apple
Thursday, May 1, 2014
A top clean-energy executive at NV Energy has left the company and reportedly joined Apple. Bobby Hollis, former vice president of renewable energy and origination at Nevada’s main electric utility, is now senior renewable energy manager at ...
Shfl Entertainment acquisition lifts Bally to record quarterly revenue
Thursday, May 1, 2014
Bally posted record quarterly revenue, thanks in part to its new table-products line of business, which it acquired last year when it bought Las Vegas casino supplier ...
Solar company ramps up to bring sun power to Las Vegas
Thursday, May 1, 2014
Almost a year after moving to town, a fast-growing but money-losing Silicon Valley solar-panel installer is ready to bring sun power to Las Vegas. SolarCity Corp. says it’s taking its first orders for residential service in...
House flipping becoming less prevalent in Las Vegas
Thursday, May 1, 2014
Flipping, the get-rich-quick tactic that pushed Las Vegas home prices to absurd heights in the boom years, is declining in popularity this year after a boost in 2013. The sales, in which homeowners unload...
In Las Vegas home market, buying increasingly beats renting, report finds
Tuesday, April 29, 2014
As any real estate agent is quick to point out, home ownership in Las Vegas becomes cheaper than renting at a faster pace than in most other cities. Just a year ago ...
GM: Henderson water park will open this year
Tuesday, April 29, 2014
A Henderson water park will miss its planned Memorial Day opening, but operators say the attraction ...
Doctor shortage could leave Las Vegas in critical condition
Sunday, April 27, 2014
As baby boomers age and physicians retire, demand on medical professionals will only increase throughout the nation, but few areas are prepared to handle it, least of all Southern Nevada ...
Allegiant Travel reports 7 percent rise in quarterly earnings
Wednesday, April 23, 2014
The parent company of Las Vegas-based Allegiant Air, a discount carrier that connects small cities to resort destinations, reported earnings today for the quarter ending March 31. The carrier, with small base fares and lots of add-on fees...
Developers building luxury apartments next to Shops at Summerlin
Wednesday, April 23, 2014
Developers of the Shops at Summerlin have lined up some fancy digs for those who want to live steps from the massive, outdoor Las Vegas mall. Howard Hughes Corp. announced plans today for...
Slot-maker IGT reports slide in quarterly earnings
Tuesday, April 22, 2014
Las Vegas-based IGT, a manufacturer of slot machines and casino game management systems, reported earnings today for the quarter ending...
New home sales down, but prices up
Tuesday, April 22, 2014
Las Vegas homebuilders sold fewer houses and cut back on construction plans last quarter, but they enjoyed a continued rise in prices. Developers in Southern Nevada sold...
Report: Las Vegas home prices continue steady surge
Monday, April 21, 2014
Las Vegas home values keep on climbing. The median home value in the quarter ending March 31 was $170,900, up 22 percent from a year earlier. The growth rate was ...

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