Richard N. Velotta

Senior Business Reporter

Rick has been editing and writing about business for 19 years at the Sun and its business-to-business weekly, Vegas Inc. His specialties: tourism, gaming and aviation industries. His assignments have taken him to Tokyo, Beijing, Taipei, Macau and Singapore and he has visited all 50 states.

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Passenger traffic at Las Vegas airport virtually unchanged in April: Friday, May 24, 2013; Passenger traffic was flat again at McCarran International Airport in April with statistics showing a familiar pattern for the city: slight international growth nearly offsetting a dip in domestic traffic.
Pro-business group: Raise gas taxes for highway projects: Tuesday, May 21, 2013; A pro-business group working to diversify Southern Nevada’s economy is advocating legislation that would lead to a gasoline tax increase. The Las Vegas Global Economic Alliance announced today that it is backing legislation that would enable Clark County to raise gasoline taxes.
My case for ‘The Amazing Race’: Television show’s auditions in Las Vegas got the competitive juices flowing; Monday, May 20, 2013; Looking around Las Vegas’ Friendly Ford dealership, I almost felt sorry for the scores of people who had arrived to audition for “The Amazing Race.”
Board tells Las Vegas table game maker: Stay out of California: Galaxy Gaming CEO 'was evasive and, in some instances, intentionally dishonest'; Friday, May 17, 2013; Galaxy Gaming, a Las Vegas manufacturer of casino table games, has been deemed unsuitable to do business in California by a judge, a recommendation that could call into question the company’s Nevada gaming license.
Economic diversification office grants major tax breaks to one of its own: Friday, May 17, 2013; The Governor’s Office of Economic Development carefully considered the largest request for tax abatements in its history on Thursday — carefully, because the request came from one of the members of the board making the decision.
State OKs $1.5 million in tax abatements for distribution facility: Thursday, May 16, 2013; he Governor’s Office of Economic Development conducted a meeting today in Las Vegas, with most of the agenda dedicated to considering tax abatement incentives to companies considering expansion or relocation to Nevada.
Old Lady Luck on track to reopen this fall as Downtown Grand: Thursday, May 16, 2013; The Nevada Gaming Commission conducted its monthly meeting today in Las Vegas.
After 51s deal finalized, it's business as usual at Cashman Field; but what's next?: Thursday, May 16, 2013; Now that a deal has been finalized to sell the Las Vegas 51s to a group that intends to move the team to Summerlin, the clock is ticking on its lease at Cashman Field. But the deadline is far away, and Cashman officials say it's business as usual.
Stratosphere parent company loses $3 million in 1st quarter: Wednesday, May 15, 2013; Declines in occupancy and room rates broadened losses in the first quarter for American Casino & Entertainment Properties, operator of the Stratosphere, the Arizona Charlie’s locals casinos and the Aquarius in Laughlin.
Station Casinos optimistic despite losses in first quarter: Tuesday, May 14, 2013; Station Casinos is banking on moves it made in the first three months of the year to reverse the company’s fortunes after reporting a net loss of $142.2 million for the first quarter that ended March 31.
Apartments being demolished for Convention Center parking lot: Tuesday, May 14, 2013; The Las Vegas Convention and Visitors Authority is spending $5 million to buy a 3.3-acre lot on Sierra Vista Drive and will convert it into a parking lot and staging area for the nearby Las Vegas Convention Center.
How Las Vegas’ convention center stacks up nationally: Monday, May 13, 2013; Las Vegas consistently ranks as the country’s top destination for conventions. But the competition is fierce. Convention hosts from coast to coast hope to grab market share from the valley. Which cities are Las Vegas’ biggest rivals?
Confusing tourism and immigration: International visitors caught up in domestic dispute; Monday, May 13, 2013; The battle over immigration reform could get heated, and local tourism leaders hope the federal government’s efforts to reduce visa wait times aren’t lost in the shuffle.
Flat-rate zones deserve a chance: Taxi industry not happy with oversimplified study, but long-hauling remains an issue; Monday, May 6, 2013; After last month’s blowup over the Legislative Counsel Bureau’s taxicab long-hauling audit, just about everybody is ready to give flat rates a shot. But if the taxi industry has anything to say about it — and you know it does — we won’t see flat rates anytime soon.
Jim Murren talks online poker, MGM's park on the Strip and the Rolling Stones: Friday, May 3, 2013; MGM Resorts International reported its best quarter in five years Thursday. Chairman and CEO Jim Murren reflected on the good news and looked ahead to MGM's next big task: developing an outdoor dining, retail and recreation plaza on the Las Vegas Strip.
Slot machine cheat considered for Nevada’s Black Book: Thursday, May 2, 2013; A convicted slot machine cheat has been nominated to by the state Gaming Control Board to the state’s Excluded Person List — the so-called Black Book of people not allowed to step foot in a casino. The three-member board today nominated Roderick William Dee III to the list.
MGM pulls out of downturn with record earnings at CityCenter: Thursday, May 2, 2013; Boosted by an all-time earnings record at its CityCenter development and its best-ever first quarter in Macau, MGM Resorts International shifted from the red to black for the quarter that ended March 31. The Las Vegas-based company today reported net income of $22.6 million, 1 cent a share, on revenue of $2.54 billion. That compared to a first-quarter loss of $203.3 million, 44 cents a share, on revenue of $2.47 billion for the same quarter a year earlier.
Caesars Entertainment still on shaky ground, loses $200 million in first quarter: Wednesday, May 1, 2013; Caesars Entertainment narrowed its losses during the first quarter but still saw revenue fall 2.9 percent, from $2.21 billion to $2.14 billion, and experienced a net loss of $216.7 million.
Gaming Control recommends approving Pinnacle acquisition of rival Ameristar: Wednesday, May 1, 2013; The state Gaming Control Board conducted its monthly meeting today in Las Vegas.
South Point banks on big draw with $30 million bowling center: Tuesday, April 30, 2013; Representatives of the South Point announced Tuesday they will build a $30 million bowling arena in a 12-year agreement to house United States Bowling Congress events that will begin in 2016.
Domestic air traffic down, foreign travel up in March at Las Vegas airport: Monday, April 29, 2013; Passenger traffic at McCarran International Airport was flat in March compared with a year ago, with strong international and air tour operations offsetting a slight dip in domestic travel to Las Vegas. The Clark County Aviation Department reported 3.7 million passengers in March, a 0.7 percent increase over last year. For the first quarter, traffic was down 1.4 percent to 9.8 million passengers.
Construction underway on delayed Cactus Avenue interchange: Monday, April 29, 2013; Work has begun on a new freeway interchange on Interstate 15 that will provide additional access to the Southern Highlands area and relieve traffic on other interchanges in the southern part of the city.
Experts: Here's what Vegas needs to become a health care hub: Monday, April 29, 2013; When medical and tourism professionals from Southern Nevada got together years ago to plot a course to bring people to Las Vegas to treat their ailments, there were plenty of skeptics. Why would anybody come to a renowned adult playground for a medical procedure? Did Las Vegas really have enough quality physicians to be considered a medical tourism destination?
Canadian snowbirds flying north: Marketing to neighbors north of the border can pay off for Southern Nevada; Monday, April 29, 2013; Wave goodbye, for now, to some of Nevada’s best tourists. Las Vegas’ Canadian snowbirds are flying home.
Las Vegas according to three governors: The fall of the mob, a land of prostitutes and potential terrorism risks: Saturday, April 27, 2013; More than 150 people jammed a courtroom in the Mob Museum to hear former Govs. Bob List, Richard Bryan and Bob Miller recollect about Las Vegas' history. The presentation was part of the Mob Museum’s Courtroom Conversation series. The event was punctuated by a book signing by Miller, whose “Son of a Gambling Man” went on sale earlier this month.
Convention services company doubles 1st-quarter earnings, sees trouble ahead: Friday, April 26, 2013; The company that operates Las Vegas-based Global Experience Specialists, a major convention services provider, reported that first-quarter earnings more than doubled over last year.
Meet the man in charge of Nevada's online gaming laws: Friday, April 26, 2013; It’s easy to see why Las Vegas lawyer John Moran Jr. refers to his office as “the war room.” Not only are there neatly stacked piles of documents on his desk — some involving his law clients, some for his work with the Nevada Gaming Commission — there are real shotguns and rifles from past hunts mounted on the walls. But the room is more than a work or play space. It’s an informal shrine to Las Vegas’ history.
Boost in slot machine sales fuels IGT's strong quarter: Thursday, April 25, 2013; Riding a wave of North American slot machine sales, both on new and replacement units, Las Vegas-based International Game Technology reported double-digit percentage increases in revenue, operating income and earnings per share today.
Steve Wynn says urban hotels will focus on luxury over gaming: Thursday, April 25, 2013; A record quarter for revenue in Macau and a 6.6 percent increase in Las Vegas lifted Wynn Resorts to a 44.4 percent increase in first-quarter earnings for the Las Vegas-based casino company.
Southwest to start charging ‘no shows’ who don’t cancel flights: Thursday, April 25, 2013; Dallas-based Southwest Airlines, the busiest air carrier at McCarran International Airport, rode record first-quarter revenue and moderated fuel prices to post a profit that narrowed from a year ago.
No. 2 slot-maker Bally reports earnings of $60.7 million: Wednesday, April 24, 2013; Boosted by the early success of wide-area progressive games like Pawn Stars and Cash Wizard, Las Vegas-based Bally Technologies posted record earnings per share for the company’s third quarter that ended March 31.
Allegiant Travel reports earnings of $31.9 million in 1st quarter: Wednesday, April 24, 2013; Las Vegas-based Allegiant Travel, parent company of Allegiant Air, today reported its 41st straight profitable quarter, posting double-digit percentage increases in revenue, earnings and earnings per share.
Boyd Gaming says $7.3 million loss related to acquisition of new casinos: Wednesday, April 24, 2013; Las Vegas-based Boyd Gaming, which operates several downtown Las Vegas properties and the off-Strip Orleans, reported a net quarterly loss of $7.3 million, despite higher revenue.
State sees agriculture as a way to grow local jobs: Wednesday, April 24, 2013; The Governor’s Office of Economic Development has added a ninth industry — agriculture — in its bid to increase jobs in the state.
Cab company rips the results of long-hauling report: Tuesday, April 23, 2013; State auditors critical of the taxi industry and Nevada Taxicab Authority regulators who oversee it “have gone psycho on long-hauling” and haven’t analyzed audit data properly, operators of Southern Nevada’s second largest taxi group say.
Virgin America's Los Angeles-to-Las Vegas flight isn't the fastest one Sir Richard Branson will see this week: Tuesday, April 23, 2013; Virgin America doesn’t do anything halfway when it comes to promoting new service and amenities, and Monday’s launch of three daily flights between Los Angeles and Las Vegas was no exception. Virgin Group founder Sir Richard Branson is no stranger to Las Vegas. He’s known worldwide as an adventurer, entrepreneur and philanthropist, and on Monday, he took six questions from the Sun.
Audit: Cabbies soaked passengers $14.8 million by long-hauling: Monday, April 22, 2013; An audit by a state agency found nearly a quarter of taxi trips from the Las Vegas airport in 2012 involved illegal long-hauling in which passengers were overcharged an estimated $14.8 million. A report issued today by the audit division of the Legislative Counsel Bureau said of 2,730 trip sheets reviewed by auditors, 614 of them — 22.5 percent — included reports of drivers taking passengers on a longer route than necessary.
A lift for international tourism: Merger between American Airlines and US Airways could be good for Las Vegas; Monday, April 22, 2013; If you merge one company named American with another named US, you might expect something really big for the United States. But for Las Vegas, the imminent merger between American Airlines and US Airways likely will have more international implications than domestic ones.
M Resort owner Penn National sees profits shrink: Thursday, April 18, 2013; The owner of Henderson's M Resort grew revenue in the first quarter of 2013, but saw its profits narrow by 16.9 percent.
Las Vegas continues to dominate list of top convention towns: Thursday, April 18, 2013; Las Vegas has again topped TradeShow News Network’s list of the top conventions and trade show hosts in the United States in 2012 with 53 shows in the top 250.
Small airline promoting seasonal flights to France: Wednesday, April 17, 2013; XL Airways France, a small European carrier that has offered seasonal nonstop flights between Las Vegas and Paris since 2010, is increasing efforts to attract Southern Nevada passengers to fly to France through an old-school network — travel agents.
How an insurance fraud investigator does his job: Monday, April 15, 2013; The life of an average insurance fraud investigator isn’t anything like on TV. There aren’t late-night shootouts or wild car chases to track down bad guys.
State slogan not a smash hit: ‘What happens here, stays here’ sets the bar too high for ‘A world within’ to clear; Monday, April 15, 2013; With memories of the “What happens here, stays here” campaign fresh in people’s minds, many in the community waited with anticipation for the Nevada Tourism Commission’s new brand and catchphrase, which cost millions of dollars and has been in development for close to two years.
Institute is intellectual hub for global gaming industry: Monday, April 15, 2013; Bo Bernhard, an assistant professor of sociology and hotel management at UNLV and the executive director of the school’s International Gaming Institute, is an expert in gaming, tourism and compulsive gambling.
Scamming the system: The rising cost of health care fraud: Monday, April 15, 2013; Health care fraud comes in a variety of flavors. Most involve bogus claims. Others include physician overbilling, identity theft, staged traffic accidents, fake slip-and-fall injuries and drug abuse. Many scammers justify their behavior by slamming insurance companies and their desire for profits.
Despite criticism, state tourism officials hope new slogan will boost business: Saturday, April 13, 2013; The director of the state Tourism Commission said that while many critics have pounced on Nevada's new tagline, she's confident the slogan will be embraced by residents and help attract tourists and businesses to the state.
RTC manager says fuel tax hike needed to fund road projects: Thursday, April 11, 2013; Transportation experts say if lawmakers don’t approve legislation to increase revenue for street and road projects, they’d have only about $22.4 million a year for new construction — about enough to build one freeway interchange, one mile of road or one beltway segment without bridges.
Southern Nevada tourism takes a dip in February: Wednesday, April 10, 2013; A shorter month and the rotation of some convention and trade shows out of February resulted in a 1.3 percent dip in visitor volume that month, the Las Vegas Convention and Visitors Authority reported today.
A six-word slogan, and the marketing campaign to advertise it, cost Nevada $9 million: Tuesday, April 9, 2013; Virginia “is for lovers.” Kentucky has “unbridled spirit.” And now, Nevada is “A World Within. A State Apart.” State tourism leaders today unveiled the state's new slogan, which cost close to $9 million and has been almost two years in the making. Officials also debuted the first television commercial to use the branding. The slogan conveys the uniqueness of the state, residents’ independent spirit and the variety of experiences and opportunities Nevada provides, Gov. Brian Sandoval said. The state plans to use the mark on documents from all of its departments.
Las Vegas Convention and Visitors Authority seeks $270.3 million budget: Tuesday, April 9, 2013; The Las Vegas Convention and Visitors Authority next month will consider a $327.1 million budget package for the 2013-14 fiscal year, including a $270.3 million operating budget.