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October 25, 2014

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Eli Segall

Business reporter

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Story Archive

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 ...
Cromwell’s casino floor officially open for business
Monday, April 21, 2014
Caesars Entertainment, owner of the renovated resort at Las Vegas Boulevard and Flamingo Road, opened the Cromwell’s 40,000-square-foot casino floor at 4 p.m. today. The casino has 434 slot machines and 66 table games. Some of the hotel’s 188 rooms also ...
Las Vegas’ themed streets
Sunday, April 20, 2014
Ever wonder who decided to name your street Tequilla Lane or Hocus Pocus Place?
After ‘refocusing of the vision of God,’ Peace Palace on track to be finished by year’s end
Wednesday, April 16, 2014
They’re running behind schedule, but followers of the late Rev. Sun Myung Moon are still bringing a “Peace Palace” to America’s gambling mecca. The Unification Church, known for its mass weddings, extensive business holdings and cult-like founder, plans to finish construction of its 93,000-square-foot convention and training center on Bermuda Road at Sunset Road by year’s end. General contractor Steven Kwon attributed the delay to ...
Report: Las Vegas’ industrial space a turnoff for companies eyeing move here
Wednesday, April 16, 2014
The Las Vegas Global Economic Alliance has released a report saying dozens of companies that considered moving here picked other cities largely because of a dearth of big, available industrial properties ...
Confessions of a casino host: Tales of high rollers, comps and hookers
Sunday, April 13, 2014
When high rollers come to Las Vegas, they expect to be treated like royalty, to spend a weekend living out a hip-hop video — all comped, and all in exchange for laying down bets.
And they expect these perks to be delivered by ...
City makes room for another mall
Sunday, April 13, 2014
The Shops at Summerlin is slated to open near the end of this year. But after the ceremonial ribbon has been cut, after the congratulations and adulations are doled out, what exactly will shoppers walk into?
Lenders are repossessing fewer Nevada homes as foreclosures dip
Wednesday, April 9, 2014
Nevada’s foreclosure rate was sixth highest in the country last month, after Florida, Maryland, Indiana, Ohio and Illinois. One in every 701 housing units statewide received ...
Goal of LGBT center’s new CEO: Drama-free expansion
Wednesday, April 9, 2014
Bob Elkins talks about his own "Dallas Buyers Club"-like story, the possibility of a "gayborhood" downtown and his experience being outed to his parents by national media ...
Las Vegas tourism agency to spend $119 million on advertising, marketing
Tuesday, April 8, 2014
The group that promotes Las Vegas tourism expects a slight bump in revenue next year, but is trimming its advertising and marketing costs. The Las Vegas Convention and Visitors Authority unveiled its...
Inventory of Las Vegas homes climbs along with prices
Tuesday, April 8, 2014
In Las Vegas, home prices have been climbing at one of the fastest rates in the country as investors, looking to capitalize on the housing crash, bought cheap homes in bulk to ...
Mysterious group buys underground doomsday house in Las Vegas
Friday, April 4, 2014
The famed underground house near Flamingo Road was built as a spacious Cold War bunker, to keep people alive and entertained in case the Soviets wiped out Las Vegas with ...
The sky is the limit for drone industry in Nevada, advocate says
Thursday, March 27, 2014
Michael Toscano, president and CEO of a drone-industry lobbying group in Arlington, Va., sees big potential, and big dollars, for unmanned aircraft in Nevada. But "drone" isn't his favorite term because...
Owner puts half of Tivoli Village up for sale
Wednesday, March 26, 2014
The owner of Tivoli Village is looking to sell half its stake in the stylish retail and office center, amid a corporate shake-up and just months after breaking ground on the project’s long-awaited final portion. IDB Group, an Israeli conglomerate, wants to sell...
Developer plans to rehabilitate ‘eyesore’ development, just one of many investors doing so in the valley
Tuesday, March 25, 2014
For vandals on the prowl, Centennial Hills Center was just too tempting. They smashed windows, sprayed graffiti and ripped out the copper from the abandoned medical-office project. As if to rub it in, they even set the elevator on fire. Some investors now bet that the Las Vegas property, despite its trashed and troubled past, will prove a big money-maker ...
New-home sales slowing, but prices still up
Friday, March 21, 2014
Las Vegas’ home construction market is softening, but that doesn’t mean buyers are scoring big, widespread discounts yet. Local builders sold 433 new homes last month, down 15 percent from a year earlier, according to a new report from Las Vegas-based Home Builders Research. The slowdown comes amid...
New owner envisions Boulevard mall, now ‘all beat up,’ as retail/entertainment hub
Wednesday, March 19, 2014
The new owner of Boulevard mall has big plans for the redevelopment of the aging retail property. He is negotiating with retail tenants and has plans for...
Henderson psychiatric care center to expand on parcel it bought from church
Tuesday, March 18, 2014
Seven Hills Behavioral Institute owner Acadia Healthcare Co. bought an undeveloped lot this month from Church LV for $3.8 million, property records show.
Laughlin: The town the recovery forgot
Las Vegas’ economy took a dive with the Great Recession, but in the past few years, tourism numbers have climbed across the board. That’s not the case in Laughlin, which continues to sink
Sunday, March 16, 2014
The town, with nine casino-resorts clustered along the banks of the Colorado River, lured 2 million visitors last year and generated $455 million in gambling revenue. But tourism, the only major industry in Laughlin, has been declining for years ...
Mixed messages from local economy
Sunday, March 16, 2014
Property values are rising at some of the fastest rates nationally, with used-home prices jumping 27 percent in the past year and new-home prices soaring 36 percent. Many listings receive multiple offers as investors gobble up homes to turn into rentals. At the same time, though ...
Developer bashes predecessor for not finishing Summerlin mall
Thursday, March 13, 2014
With construction underway again at the Shops at Summerlin, the developer is slamming his predecessor for abandoning the project due in part, he said, to...
Nevada’s foreclosure rate, while improving, is third-highest in U.S.
Wednesday, March 12, 2014
One in every 633 Nevada housing units received a foreclosure-related filing in February, down 16 percent from January and 49 percent from February 2013. Silver State homeowners weren’t the only ones facing...
After a brief break, Las Vegas home prices headed up again
Tuesday, March 11, 2014
The median sales price of previously owned single-family homes in Southern Nevada last month was $190,000, an increase of...
The surgeon soldier: Las Vegas urologist escaped civil war in Ethiopia, has served American military in Iraq
Sunday, March 9, 2014
Mulugeta Kassahun came of age in violent, revolutionary east Africa, leaving home to join a rebel group that fought Ethiopia’s military junta with street assassinations and guerrilla warfare. He didn't dream of America, but he has achieved the American dream. “He’s so not your typical doctor,” said former classmate Ali Borhan.
Construction restarts on mixed-use Gramercy project
Monday, March 3, 2014
The new owners of a once-mothballed Las Vegas real estate project have resumed construction on what they deem an “iconic” urban-style enclave. The first tenants are expected to move into the development...
Bally Technologies buys 14 acres for expansion, eyes site for new HQ
Monday, March 3, 2014
Slot-machine maker Bally Technologies has bought almost 14 acres of land in southwest Las Vegas, with plans to turn the former headquarters site of a rival into its own home base.
‘Elvis House’ has a storied past but a sullied present
Sunday, March 2, 2014
The house at 2520 Castlesands Way is as unique as they come in Las Vegas. Much of its sordid past is all but impossible to verify, passed on by a recent occupant and others who know about the home. But even if a fraction of their tales are true, the house has...
Return of the shopper
As the Las Vegas economy starts to regain its footing, investors buy into strip malls
Sunday, March 2, 2014
Prices are low, so retail centers are being snatched up left and right. But are we falling into the same trap that sent us into the Great Recession in the first place?
Fewer Las Vegans are underwater, but rate still leads country
Thursday, Feb. 27, 2014
About 35 percent of valley homeowners with mortgages were upside down last quarter, which is dramatically lower than the peak of 71 percent in 2012. For the drop, we have investors to thank.
Developer awaiting $312 million loan for Shops at Summerlin
Thursday, Feb. 27, 2014
Howard Hughes Corp. reported today that it expects to close on a $312 million loan to cover much of the construction costs for the Shops at Summerlin in...

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