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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Story Archive

Two members reappointed to Nevada Gaming Commission: Wednesday, April 3, 2013; Two members of the Nevada Gaming Commission have been reappointed to the five-member board that makes final decisions on gaming regulatory matters.
Small Las Vegas gaming company reports record income: Tuesday, April 2, 2013; Calling 2012 a breakout year, Las Vegas-based Galaxy Gaming reported record net income and a rebound from last year’s fourth-quarter loss.
Affinity Gaming reports net income of $522,000 in 4th quarter - almost $4 million less than previous year: Monday, April 1, 2013; Affinity Gaming, which owns Terrible's and three casinos in Primm, saw its profits drop by almost $4 million from the end of 2011 to the end of 2012.
Vegas resorts use airlines’ strategy in adopting fees, but will it fly with consumers?: Monday, April 1, 2013; The world is filled with consumers who favor one product over another. There are Apples and PCs. Cokes and Pepsis. And, in the tourism world, there are bundlers and unbundlers.
Cosmopolitan owner posts net loss but says it's on 'right trajectory': Friday, March 29, 2013; The company that operates the Cosmopolitan of Las Vegas narrowed sequential losses despite the smallest quarterly revenue total of the year in the fourth quarter that ended Dec. 31.
Traffic down at Las Vegas airport for start of year: Friday, March 29, 2013; Traffic at McCarran International Airport fell by 3.7 percent to 3 million passengers in February over the same month last year. But February had one less day this year because 2012 was a leap year.
President of renewable energy organization resigning: Friday, March 29, 2013; Walt Borland, who has served as the president and CEO of the Nevada Institute for Renewable Energy Commercialization since 2011, is resigning.
Union warns passengers about Southwest's outsourcing plans: Thursday, March 28, 2013; Union representatives say Southwest Airlines customers would receive second-class service if the company — the busiest air carrier at McCarran International Airport — hires outsourced labor to supplement its workforce.
The Henderson cancer doctor who earned more than Steve Wynn and Sheldon Adelson: Tuesday, March 26, 2013; Dr. Rajesh C. Shrotriya earned $25.2 million last year – millions more than Gary Loveman, Steve Wynn and Sheldon Adelson. Shrotriya was the highest paid executive in the Las Vegas Valley in 2012.
Wi-Fi test drive will have to wait: Longer trip may bring better luck for those looking to use Southwest’s newest option; Monday, March 25, 2013; I was all set to give Southwest Airlines’ Wi-Fi a whirl on a recent flight. I was looking to test-drive the Internet capability of the system and maybe look in on Southwest’s new inflight entertainment options, innovations the company introduced widely last month.
Local economy scores major coup with luring of SolarCity to Las Vegas: Thursday, March 21, 2013; This is what state officials had in mind when they created a $10 million catalyst fund to be used to close deals to persuade companies to bring their operations to Nevada.
State board OKs tax abatements for new, expanding companies: Thursday, March 21, 2013; The Governor’s Office of Economic Development met in a teleconference meeting in Las Vegas and Carson City.
Treasure Island partnership OK’d for online poker: Thursday, March 21, 2013; Acting on recommendations from the state Gaming Control Board, the commission approved a series of licenses for 888 Holdings, which will partner with Treasure Island to offer online poker.
Station Casinos ends year in black, despite $7.9 million 4th-quarter loss: Tuesday, March 19, 2013; Station Casinos LLC endured a sluggish fourth quarter to complete 2012 in the black, the company announced today.
Stratosphere parent company reports quarterly loss of $8.3 million: Monday, March 18, 2013; An executive with the company that owns the Stratosphere hotel-casino said he expects the development of a new Strip resort by the Genting Group will expand the north Strip market and attract new business to the area.
Small business lending is trending upward in Southern Nevada, helping companies expand: Monday, March 18, 2013; The Small Business Administration, which plays a role in most business loans, last year issued $175 million in loans statewide. That’s up from $167 million in 2011 and $103 million in 2010. But it falls far short of the $277 million the SBA lent in Nevada in 2007.
Union cuts off flight attendants’ nose: Tactic meant to embarrass Allegiant doesn’t help quest for better pay for members; Monday, March 18, 2013; I get the role of unions trying to obtain the best contracts for workers. But I have a really hard time understanding the latest tactics by the Transportation Workers Union Local 577, which represents flight attendants for Allegiant Air.
Allegiant introduces new planes that are comfier, more efficient: Saturday, March 16, 2013; Allegiant Air recently debuted a new line of airplanes that executives say will be more reliable and more efficient. The company, which is based in Las Vegas, parked a freshly painted Airbus A319 twin-engine jet at McCarran International Airport’s D gates to give employees and airport executives a first look at the 156-seat plane.
Nevada’s new tourism brand to launch next month: Friday, March 15, 2013; The state’s new tourism brand will be launched April 9. Former Kentucky State Tourism Director Randy Fiveash explained how that state unveiled its “Unbridled Spirit” campaign with support from every state department, placing marks and logos on letterheads, license plates and state maps.
Las Vegas tourism chief gets surprise tribute marking 40 years: Tuesday, March 12, 2013; When it comes to local events, Las Vegas Convention and Visitors Authority President and CEO Rossi Ralenkotter is always in the know.
Tourism board undecided about funding proposed UNLV stadium: Tuesday, March 12, 2013; It’s too early to tell if the Las Vegas Convention and Visitors Authority would consider diverting room-tax funds toward the construction of the proposed UNLV Now stadium, the top executive of the organization said. Rossi Ralenkotter, president and CEO of the LVCVA, said that while the proposal to build a 60,000-seat, on-campus, indoor stadium is being downsized after concerns were raised about the project being too big and too expensive, the board will await additional information about how the final project emerges.
CEO: Efforts to curb Las Vegas high-speed rail project based on 'faulty data': Monday, March 11, 2013; The chief executive of the XpressWest high-speed rail project has responded to a letter from two congressional budget committee members calling for the rejection of a federal loan critical to the project, saying the information they have was “formulated using outdated information.”
Taking a closer look at Singapore: Resorts World Sentosa comes into focus after Genting Group’s decision to build here; Monday, March 11, 2013; When talking about gaming in Singapore, local media — myself included — have focused on Sheldon Adelson’s magnificent Marina Bay Sands. Last week’s surprising announcement that the Genting Group plans to build a 3,500-room megaresort on the Strip will lead us to take a closer look at Singapore’s other casino, which I happened to visit in 2011.
Fewer people started the year in Southern Nevada than in 2012: Friday, March 8, 2013; Southern Nevada’s new year visitor volume began the way 2012 ended — treading water compared with the previous year.
Who stands to gain and lose from the Strip's new megaresort: Friday, March 8, 2013; It didn’t take long for the buzz to become a roar after the Genting Group announced plans Monday to develop a 3,500-room resort on the Strip. Here's a look at who stands to gain from the arrival of Resorts World Las Vegas and who stands to lose.
Company to begin replacing striking cab drivers next week with new hires: Thursday, March 7, 2013; Managers at Yellow-Checker-Star Transportation say they’ll begin hiring replacements for striking taxi drivers starting next Thursday or Friday.
Las Vegas lab that tests casino games plans to add 100 jobs over the next two years: Thursday, March 7, 2013; On Thursday, BMM Testlabs conducted an open house at its new world headquarters in Las Vegas. About 100 gaming professionals toured the company’s facility at 815 Pilot Road in a warehousing and manufacturing area south of McCarran International Airport.
888 Holdings would team with Treasure Island to offer online poker: Wednesday, March 6, 2013; Two more companies took a step toward joining Nevada’s interactive gaming license club Wednesday after the state Gaming Control Board unanimously approved recommendations for foreign and domestic operators.
Are mediation talks scheduled in cab strike? Sides can't agree: Tuesday, March 5, 2013; Representatives of a taxi drivers union say a mediation session has been scheduled for Wednesday morning in the 3-day-old strike against Yellow-Checker-Star Transportation, but company management disagrees.
New Genting megaresort expected to be big boost for the Strip: Tuesday, March 5, 2013; In the go-go 1990s, when it seemed like announcements about new casino megaresorts were annual occurrences, the prevailing wisdom was “the more the merrier” and “a rising tide raises all boats.” But that philosophy came into question in the late 2000s as Las Vegas and the rest of the country weathered the worst economic downturn in recent history.
Asian-themed megaresort planned for old Stardust site: Monday, March 4, 2013; An Asian gaming powerhouse is planning a $2 billion Asian-themed mega-resort on the Las Vegas Strip where the old Stardust was imploded and the stalled Echelon was planned.
May the best contractors win: Diversity summits emphasize civil rights in context of XpressWest development; Monday, March 4, 2013; Over the past three months, minority business organizations in California and Nevada have met in high-speed train diversity summits centered on the prospect of the $6.9 billion XpressWest train project planned between Las Vegas and Southern California. This week, a similar gathering pulls into Las Vegas, and local organizers are hoping it will be the best-attended summit of the series.
Philanthropic leaders discuss how to help Nevada charities: Friday, March 1, 2013; The community’s philanthropic leaders met at Las Vegas City Hall today to strategize on how to pool funds to assist Southern Nevada’s charitable organizations and develop a sustainable high return on investment for local causes.
Passenger traffic dips at Las Vegas airport: Thursday, Feb. 28, 2013; Passenger traffic got off to a slow start at McCarran International Airport in January as airport officials reported a 1.6 percent dip for the first month of 2013. Clark County Aviation Department officials said that 3.12 million passengers used McCarran, with most of the drop-off in domestic traffic.
Piecing together a giant slide for Wet 'n' Wild ride: Thursday, Feb. 28, 2013; Construction workers began piecing together the first Fiberglass slides Wednesday for the Wet ‘n’ Wild water park under construction in southwest Las Vegas. Slides for the four-story Canyon Cliffs attraction were being assembled on a lot adjacent to the park at Fort Apache and Warm Springs roads near Faiss Middle School. In the next few days, the slide will be mounted on a tower.
Reviews rank Las Vegas airport tops for shopping: Wednesday, Feb. 27, 2013; A Spanish travel website’s customers have recognized McCarran International Airport for having the best shopping. In reviews by thousands of customers of eDreams.com, the Las Vegas airport ranked No. 7 in 2012 among the world’s airports for shopping.
Snubbed by the Olympics, wrestling is heading to Las Vegas: Wednesday, Feb. 27, 2013; Las Vegas will host an international wrestling event in 2015 that is expected to draw thousands of people to the city and could be one of the last links the sport has with the Olympic Games. The 2015 World Wrestling Championships are slated for the 9,500-seat Orleans Arena in September of that year and will be the first and largest qualifying event to send athletes to the 2016 Olympics in Rio de Janeiro.
To one cab company's chagrin, long-hauling pilot program was already approved: Tuesday, Feb. 26, 2013; What some had expected to be a legal skirmish between Southern Nevada’s two largest taxicab groups fizzled Tuesday as the Nevada Taxicab Authority outlined details of a pilot program to test the RideIntegrity computerized regulatory system.
Nevada Development Authority gets new name, new home: Tuesday, Feb. 26, 2013; The revamped Nevada Development Authority has taken on a new name and new office to reflect its updated economic diversification mission. The Las Vegas Global Economic Alliance, as the NDA now is called, has moved into the InNEVation Center at 6795 Edmond St., Suite 260, into an office provided by Switch Communications.
Taxicab Authority OKs extra cabs for Electric Daisy Carnival: Tuesday, Feb. 26, 2013; The Nevada Taxicab Authority will allow cab companies to put additional cars on the road during June’s Electric Daisy Carnival, but not as many as they had asked for.
LVCVA approves first phase of $2.5 billion convention center overhaul: Tuesday, Feb. 26, 2013; The Las Vegas Convention and Visitors Authority today approved the concept and the first phase of a $2.5 billion overhaul of the Las Vegas Convention Center that includes a World Trade Center building and a multimodal transportation center.
Will tourists agree with officials' assurances that Las Vegas is safe?: Tuesday, Feb. 26, 2013; While police continue to search for a suspect in last week's shooting and taxi explosion that killed three people on the Strip, the question remains: Will the violence discourage people from coming to Las Vegas? Most tourism leaders say it won’t, and a local expert in crisis communications said the Las Vegas Convention and Visitors Authority did all the right things to assure the public that Las Vegas is a safe place to visit.
Hurricane Sandy drives quarterly losses for Caesars: Monday, Feb. 25, 2013; Lost revenue attributed to Atlantic City casino closures during Hurricane Sandy resulted in fourth-quarter losses for Caesars Entertainment, the Las Vegas-based company reported today.
Las Vegas cab company opposes pilot program to stop long-hauling: Monday, Feb. 25, 2013; With the Nevada Taxicab Authority a day away from considering parameters of a pilot program for a GPS-based computer system designed to thwart taxi long-hauling, a battle is brewing between rival cab companies over whether the proposed pilot program is legal.
Critics accuse taxicab officials of soft touch on long-haulers: Review finds fewer citations than Taxicab Authority had claimed; Monday, Feb. 25, 2013; The process to catch illegal long-haulers is simple. Enforcement officers park at a Strip resort and wait for cabs to come in. They note the dollar amount on the taxi meter, ask passengers where they came from and do a quick calculation.
Integrity: There’s an app for that: Taxi monitoring software would cut down on long-hauling, but can it be approved?; Monday, Feb. 25, 2013; There are about a dozen good reasons the Nevada Taxicab Authority should adopt Frias Transportation Infrastructure’s RideIntegrity taxi monitoring software to help regulate the taxi industry. But there are a handful of reasons why it won’t.
'He could always make me smile': Slain taxi driver leaves void at Desert Cab: Saturday, Feb. 23, 2013; The Desert Cab operations office is loud and busy at 4 in the afternoon. That's when cab drivers who have been picking up and dropping off passengers since 4 in the morning come in to tally their trip sheets while the night shift drivers prepare to go out in those returning cabs.
Will Strip shootout and crash hurt Las Vegas tourism?: Thursday, Feb. 21, 2013; Las Vegas tourism officials say this morning’s shootout and car crash on the Strip shouldn’t discourage people from coming to the city. But it's too early to determine what effect the violence will have on tourism.
Vassiliadis to succeed Walker as director of aviation: Wednesday, Feb. 20, 2013; Longtime Clark County Aviation Department Director Randall Walker will retire in June and his deputy of 15 years, Rosemary Vassiliadis, will take his place at McCarran International Airport.
Head of county Department of Aviation stepping down: Wednesday, Feb. 20, 2013; Randall Walker, the director of the Clark County Department of Aviation since 1997 who oversaw dramatic growth in facilities and technology at McCarran International Airport, will retire in June.