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

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.
MGM Resorts execs optimistic, despite $1.22 billion 4th-quarter loss: CEO Jim Murren says company open to selling Crystals mall at CityCenter; Wednesday, Feb. 20, 2013; Executives at MGM Resorts International say that despite fourth-quarter losses reported today, the company has positioned itself to take advantage of a brightening economy this year and in 2014. “We’re off to a very solid start in 2013,” MGM CEO Jim Murren said in a conference call with investors this morning. “The Super Bowl was a great event for us in Las Vegas, and we’re still seeing people here celebrating Chinese New Year. The Year of the Snake appears to be a really good one for us.”
Spirit Airlines has fourth consecutive profitable year in 2012: Tuesday, Feb. 19, 2013; Spirit Airlines, the fastest-growing air carrier at McCarran International Airport last year, reported its fourth straight profitable year and improved financial results in 2012, despite a fourth quarter hampered by cancellations resulting from Hurricane Sandy.
Southwest Airlines CEO talks about fares, fees and new routes: Kelly: Las Vegas is 'always going to be a primo destination'; Monday, Feb. 18, 2013; Southwest Airlines is, by far, the busiest commercial air carrier at McCarran International Airport. And, McCarran is Southwest’s second-largest station of the 98 airports it serves. With more than 2,700 Southwest employees in Las Vegas, the company is a major economic force in Southern Nevada, and the airline views the city as a key corporate partner.
Unions hot under the collar: Forecast calls for high pressure, extreme heat in Southern Nevada labor negotiations; Monday, Feb. 18, 2013; When Punxsutawney Phil peered out of his burrow in Gobbler’s Knob, Pa., this month, he projected an early spring but didn’t say anything about how hot it was going to get this summer. It has taken a few remarks and actions from Southern Nevada’s labor unions for local prognosticators to forecast how much heat we’re going to get.
Stakeholders like MGM Resorts openly worried about stadium's cost, scope: Friday, Feb. 15, 2013; Representatives of Southern Nevada’s resort industry are concerned about the cost and scope of UNLV’s proposed on-campus 60,000-seat football stadium, and one major company has withdrawn some support it had quietly committed months ago.
RTC approves controversial bus contracts: Thursday, Feb. 14, 2013; Members of the Regional Transportation Commission of Southern Nevada approved two controversial bus operations and maintenance contracts today, as more than 100 union members jeered and applauded through more than two hours of testimony and debate.
RTC looking for ways to make bus stops safer: Thursday, Feb. 14, 2013; The Regional Transportation Commission of Clark County received a report with a list of strategies to make bus stops safer for people waiting at the stops.
Pinnacle Entertainment reports record revenue in 2012: Wednesday, Feb. 13, 2013; Las Vegas-based Pinnacle Entertainment reported record revenue in 2012 and will continue plans to close on its deal to acquire Ameristar Casinos this year, a move that would give the company its first Nevada properties.
High-speed rail project waiting on $5.5 billion government loan: Tuesday, Feb. 12, 2013; The nation’s first privately funded high-speed rail line, which would connect Las Vegas with Southern California, remains in a holding pattern, awaiting a decision on a federal government loan, a representative of the company said today. Andrew Mack, chief operating officer of XpressWest, told the Las Vegas Convention and Visitors Authority board of directors that his company is still awaiting word on approval of a $5.5 billion loan. The $6.9 billion train project would link Las Vegas and Victorville, Calif., and, eventually, downtown Los Angeles via Palmdale, Calif.
Convention center improvement district presentation to be delayed: Tuesday, Feb. 12, 2013; A presentation on a proposed multimillion-dollar improvement district for the Las Vegas Convention Center is expected to be postponed today because of illness.
Union members talk strategy for negotiations with Las Vegas resorts: Monday, Feb. 11, 2013; About 1,000 members of the city’s Culinary and Bartenders unions jammed the theater at Cashman Center this morning to devise strategies for upcoming negotiations to renew contracts with 41 Strip and downtown resorts.
Troubling airline developments: Las Vegas tourism industry could be hurt by merger of carriers, grounding of 787; Monday, Feb. 11, 2013; Two big national aviation stories could affect Las Vegas tourism in the months and years ahead. One is a potential merger between American Airlines and US Airways. The other is the grounding of the Boeing 787 Dreamliner.
A high-speed train would help Palmdale grow and benefit Las Vegas: Saturday, Feb. 9, 2013; Palmdale, Calif., recently hosted a diversity summit where Las Vegas business owners brainstormed strategies to win contracts for building XpressWest, the proposed high-speed train to Southern California.
Las Vegas sets record with 39.7 million visitors in 2012: Friday, Feb. 8, 2013; Las Vegas closed the book on 2012 visitor volume with moderate growth in occupancy and average daily room rates, on top of a record 39.7 million people who came to the city for vacations and conventions.
Las Vegas deemed sexiest city in America, just in time for a Valentine's Day tourism bump: Friday, Feb. 8, 2013; Las Vegas, for the sixth year in a row, will be the most popular Valentine's Day destination in America. The city also scored an added bonus this year. It was named the nation's sexiest city by customers of the travel website Orbitz.com.
Another data storage center sets up shop in Las Vegas: Friday, Feb. 8, 2013; Storing corporate data has become an industry unto itself in Nevada and city officials in Las Vegas welcomed one of the newest entries to the market Thursday.
Cab drivers, upset with contract, picket outside trade show: Thursday, Feb. 7, 2013; Some 150 Yellow Checker Star cab drivers and their supporters, some with megaphones and bullhorns, staged an informational picket at the Las Vegas Convention Center on Wednesday to protest a new contract implemented by the city’s second-largest cab company.
For first time in more than a decade, Southwest Airlines' field message comes to Las Vegas: Thursday, Feb. 7, 2013; It’s a corporate meeting that’s part state-of-the-company address, part pep rally. It's Southwest Airlines' "message to the field," and it's coming to Las Vegas today.
Gaming Control recommends extensions for testing online poker software: Wednesday, Feb. 6, 2013; The state Gaming Control Board conducted its monthly meeting today in Carson City.
Southwest adding nonstop service between Las Vegas and Flint, Mich.: Monday, Feb. 4, 2013; Southwest Airlines’ conversion of its AirTran subsidiary to the Southwest brand will lead to a new nonstop route for Las Vegas.
Las Vegas voted one of the world's most stunning airport arrival cities: Monday, Feb. 4, 2013; What happens when a bunch of aviation geeks get together to talk about the best airport approaches in the world? A lively discussion about which destinations are the most fun to fly into — and likely an argument or two about why some are better than others. McCarran International Airport recently landed on a list of the top 10 most stunning airport approaches in the world, compiled by British private jet charter booking service PrivateFly.com.
Big developments in tourism: Plans for convention center redo, Cosmopolitan auditorum and water center bode well; Monday, Feb. 4, 2013; January ended with a flourish of big announcements, all of which bode well for Southern Nevada’s tourism industry.
Viad Corp reports 4th-quarter loss of $21.2 million: Friday, Feb. 1, 2013; The parent company of Las Vegas-based convention contractor Global Experience Specialists generated more than $1 billion revenue in 2012, but ended the year with a fourth-quarter loss attributed to a change in the interpretation of an accounting strategy.
Wynn set to start construction on $3.5 billion Macau resort: Thursday, Jan. 31, 2013; Wynn Resorts Ltd. will begin construction of its multibillion-dollar Macau resort on the Cotai Strip the day after Chinese New Year — Feb. 11 — setting up the prospect of opening it around that holiday in 2016.
Taxi company shuts down talks, strike possible: Thursday, Jan. 31, 2013; Representatives of the Yellow-Checker-Star taxi group won’t return to contract negotiations, saying a contract rejected by 70 percent of the drivers’ union membership on Monday is their best and final offer.
Union launches website targeting Allegiant business tactics: Thursday, Jan. 31, 2013; At about the time Allegiant Air Chairman and CEO Maurice Gallagher was telling analysts about his company’s 40th consecutive profitable quarter on Wednesday, representatives of the Transport Workers Union of America were promoting a blistering new website criticizing Allegiant business tactics and policies.
Allegiant Travel CEO says company a ‘cash machine’: Wednesday, Jan. 30, 2013; Las Vegas-based Allegiant Travel, parent company of Allegiant Air, reported its 40th consecutive profitable quarter today, closing 2012 with double-digit percentage increases in revenue, earnings and earnings per share.
Spirit adding flights between Las Vegas and Philadelphia, Baltimore: Wednesday, Jan. 30, 2013; The fastest-growing domestic airline at McCarran International Airport in 2012 is starting the year the way it left off last year. Miramar, Fla.-based Spirit Airlines today announced two new nonstop routes between Las Vegas and East Coast destinations.
McCarran passenger counts flat in December but up in 2012: Tuesday, Jan. 29, 2013; Passenger counts at McCarran International Airport were flat in December, but the city’s airport – the seventh busiest in the country – closed 2012 with a 0.4 percent increase over the previous year with 41.7 million passengers.
Taxicab Authority approves extra cabs for Super Bowl weekend: Tuesday, Jan. 29, 2013; The Nevada Taxicab Authority had in its monthly meeting in Las Vegas today.
Make UNLV Now happen: If the goal is to bring tourists to Southern Nevada, this stadium fits the bill; Monday, Jan. 28, 2013; The Las Vegas Convention and Visitors Authority’s mission is to put heads in beds. It therefore should become an industry advocate for the proposed $800 million, 60,000-seat UNLV Now stadium — and direct room-tax money toward it.
State approves $1.4 million in tax abatements for expanding data storage company: Saturday, Jan. 26, 2013; The board of directors of the Governor’s Office of Economic Development met Thursday in Las Vegas. The issue: ViaWest, a computer data storage company founded in Colorado with operations in Las Vegas, is expanding with a new facility on Lone Mountain Road in North Las Vegas. The company requested tax incentives to offset the costs of the expansion.
Taxi drivers to vote on new contract next week: Friday, Jan. 25, 2013; A new contract ratification vote is scheduled for Sunday and Monday by Yellow-Checker-Star taxi drivers represented by the Industrial Technical Professional Employees union.
State economist says Nevada has escaped grip of recession: Friday, Jan. 25, 2013; Job and population growth, lower unemployment, easing foreclosure numbers, a strengthening housing market and broad-based, consistent growth in taxable sales have led the state’s chief economist to conclude that Nevada has escaped the grip of the Great Recession.
Economic agency approves deal to set up venture to develop, manage water: Friday, Jan. 25, 2013; The Governor’s Office of Economic Development on Thursday took a giant stride toward forming an institution in Las Vegas that is expected to become a global authority in developing and managing the world’s most precious resource: fresh water.
New home products at the builders' show: touchless faucets, heated carpet and light-up drains: Friday, Jan. 25, 2013; If you missed this week’s International Builders’ Show at the Las Vegas Convention Center, don’t worry. It will be back next year. And the year after. And the year after that. Representatives of the Washington-based National Association of Home Builders signed an unprecedented four-year commitment to Las Vegas, ensuring that the international trade show for the home-building industry will be here annually through 2016.
Hsieh wins over Preview Las Vegas audience with keynote address: Thursday, Jan. 24, 2013; Old-school businesspeople may not understand Zappos.com CEO Tony Hsieh's methods. But the estimated 2,000 people attending Preview Las Vegas warmly received him when he offered details of his Downtown Project.
Speakers at Preview Las Vegas outline a rosy future for the city: Thursday, Jan. 24, 2013; Las Vegas' business power brokers are gathered this morning for Preview Las Vegas, the Las Vegas Metro Chamber of Commerce’s premier networking event, at UNLV. An estimated 2,000 people are in attendance — the largest number since 2008.
Southwest Airlines reports earnings of 9 cents a share: Thursday, Jan. 24, 2013; Superstorm Sandy and higher costs dampened Southwest Airlines’ fourth-quarter profitability, but McCarran International Airport’s busiest commercial carrier still beat analysts’ earning expectations.
LVCVA ad aimed at LGBT travelers getting national attention: Thursday, Jan. 24, 2013; A Las Vegas ad campaign unveiled in June got a second wind this week after a national publication called attention to the city’s bid to attract gay and lesbian travelers, a lucrative market.
Big news at Preview Las Vegas: New transportation hub planned for Las Vegas Convention Center: Thursday, Jan. 24, 2013; An intermodal transportation center at the Las Vegas Convention Center is in the works. Las Vegas Convention and Visitors Authority President and CEO Rossi Ralenkotter is expected to share details about the project today at Preview Las Vegas.
CES may have gotten too big: Oversaturated with media and exhibitors, the convention could use a reboot; Monday, Jan. 21, 2013; Reporters' experiences illustrate one of the problems with CES — and one of the reasons some tech industry leaders have questioned the value of the city’s largest convention: It has gotten too big.
What happens when a gambler thinks he wins and the casino says he didn't: Friday, Jan. 18, 2013; Most people who spend time playing slot machines have stories about the jackpot that got away. The symbols on the reels line up, then at the last second, one moves. Or the symbols line up but the necessary number of credits weren’t played — even though the player has been betting the maximum all day. Or the catch-all: There must have been some kind of glitch with the machine.
Zappos.com makes Fortune’s list of best places to work: Thursday, Jan. 17, 2013; Las Vegas-based Zappos.com has again made Fortune magazine’s list of the 100 best places to work in the United States. The online shoe retailer ranked No. 31 on the Fortune list, down from its No. 11 ranking a year ago. Zappos has made the list the last five years, climbing as high as No. 6 in 2011.
Experts: Less than half of motorists would use toll road around Boulder City: Thursday, Jan. 17, 2013; Transportation experts say a 15-mile toll-road bypass around Boulder City would only be used by about 44 percent of the motorists using what eventually would become a piece of the proposed Interstate 11 between Hoover Dam and Henderson.
Virgin America adding flights between Las Vegas and Los Angeles: Wednesday, Jan. 16, 2013; California-based Virgin America will become the sixth airline to offer nonstop flights to and from Las Vegas’ most popular air destination — Los Angeles International Airport — when it begins offering three daily flights in April.
In sneak peek of memoir, Oscar Goodman details how he came to defend mobsters: Wednesday, Jan. 16, 2013; Former Las Vegas Mayor Oscar Goodman’s memoir about his life as a mob lawyer and his three terms as “happiest mayor in the universe” hits bookstores June 4.
‘Ragin Rebel’ leads in contest to name Wet 'n' Wild wave pool: Tuesday, Jan. 15, 2013; The operators of Wet ‘n’ Wild Las Vegas have named five finalists in a contest to name a wave pool at the 41-acre water park that is under construction, and the early leader has a distinct UNLV flavor. Voting on the park’s Facebook page will continue through midnight Saturday. The name with the most “likes” when the voting ends will win. The leader early Tuesday was The Ragin’ Rebel, submitted by Jackie Galaza. That name was followed by Red Rock Bay, submitted by Ted Stringer, Neon Beach by Robyn Young, Mojave Monsoon by Scott Berard and Cactus Curl by Dean Lamanna.