News Archive

  • What a $1.9 billion futuristic sports stadium may do for Southern Nevada

    April 24, 2017 | Las Vegas Business Press | Buck Wargo

    Few thought Las Vegas would ever attract an NFL franchise.

    The NFL’s public aversion to gambling — despite the game being the most popular sport in the country in part because of it — was a big hurdle to overcome.

    But with Oakland unable or unwilling to fork over the public financing that has allowed many other cities across the country to keep their teams, Las Vegas and Nevada exploited that gap by a willingness to fund part a $1.9 billion stadium project.

    The NFL owners’ approval in March for the Raiders to relocate to Las Vegas paves the way for agreements to be reached between the team and the Las Vegas Stadium Authority on the domed facility.

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  • Why sense of urgency must drive rest of negotiations ahead of stadium construction

    April 21, 2017 | Las Vegas Sun | Adam Candee

    The Oakland Raiders will go on the clock in the National Football League Draft in six days, but the ticking on their move to Las Vegas already sounds like the "60 Minutes" stopwatch to local officials.

    Thursday’s two-hour meeting of the Las Vegas Stadium Authority Board highlighted just how much work needs to be packed into the next 40 months before the Las Vegas Raiders play their first game in their new $1.9 billion stadium.

    A revised draft lease including free rent for the Raiders occupied much of the discussion, but that document is one of a dozen agreements that will need to be reached in the next few months. The remaining contracts are in nascent stages compared to the lease, which board chairman Steve Hill called 75 percent done earlier this week.

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  • City Beat - RAIDERS COME TO LV

    April 17, 2017 | KCLV | Nancy Byrne

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  • Manufacturing growing again in Las Vegas economy

    April 10, 2017 | Las Vegas Review-Journal | Wade Tyler Millward

    Ralph Knight took no small risk after the recession when he bought a business over a thousand miles away.
    He moved his family from Seattle to the Las Vegas Valley, and jumped into a new career. The former custom homebuilder had high expectations for Power Pallets, a North Las Vegas manufacturer of portable wooden platforms used to move, stack and store goods.

    “If this didn’t work out, I’d be starving,” he said.

    Since Knight bought the company in 2011, Power Pallets has gone from $1.2 million in sales to $4.5 million last year, he said. It’s grown from about 15 employees to 35, adding a second shift.
    Knight’s purchase of a manufacturing business appears to be paying off, and according to data from the U.S. Bureau of Labor Statistics, certain sectors within manufacturing have shown recent employment growth nationwide.

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  • Walker Furniture to build 150,000-square-foot store near IKEA

    April 5, 2017 | Las Vegas Business Press | Buck Wargo

    In a reflection of the continued recovery of the Las Vegas housing market, Walker Furniture has acquired 14 acres adjacent to IKEA to open a second superstore in the valley.

    Construction is expected to start by the end of the summer on the 150,000-square-foot store that’s expected to open by the third quarter of 2018. The property will have pad sites for leasing 50,000 square feet for furniture-related retail outlets and restaurants.

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  • Poker tables keep decreasing on Nevada casino floors

    March 27, 2017 | Las Vegas Review-Journal | Regina Garcia Cano

    When the Monte Carlo casino closes its eight-table poker room in about a month as part of a $450 million overhaul, the Strip will be down nearly a quarter of the tables it had a decade ago.

    Casinos constantly adjust their floors to meet customer demand. And unlike the boom years when they competed for card fans after everyman Chris Moneymaker won the World Series of Poker’s main event in 2003, poker’s appeal in Las Vegas has been weakening this decade.

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  • Don’t buy those Las Vegas Raiders season tickets just yet — VIDEO

    March 27, 2017 | Las Vegas Review-Journal | Richard N. Velotta

    Now that the NFL has approved the relocation of the Oakland Raiders franchise to Las Vegas, it’s time to buy those season tickets, right?

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  • Raiders to Las Vegas: Economic analysts believe NFL gamble will pay off for region

    March 27, 2017 | News 3 Las Vegas | Kelsey Thomas

    LAS VEGAS (KSNV News3LV) — Las Vegas Raiders fans celebrated Monday afternoon under the iconic Welcome to Fabulous Las Vegas sign.

    It could be a hint of what's to come.

    There is no doubt the Raiders coming to Las Vegas has the potential to have a major economic and social impact on Southern Nevada.

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  • Economists weigh economic impact of stadium for Raiders in Las Vegas

    March 27, 2017 | Las Vegas Review-Journal | Wade Tyler Millward

    With the Oakland Raiders officially OK’d to move to Las Vegas, local economists are now studying the path to a new stadium for signs the Raiders are more than just new entertainment.

    The Las Vegas Stadium Authority has taken into account lessons of past stadiums deals — and failed ones — Applied Analysis principal analyst Jeremy Aguero said. Aguero has worked with the Las Vegas Stadium Authority.

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  • Nevada State Bank releases survey

    March 27, 2017 | Las Vegas Business Press | Buck Wargo

    Small business owners in Nevada are bullish on the economic prospects for the state and nation, and the election of Donald Trump as president has buoyed that outlook.

    That’s part of the findings of a survey conducted by Nevada State Bank of more than 400 of the state’s small business decision-makers, including owners, operators and management executives representing businesses with annual sales ranging from $250,000 to $10 million.

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  • Poker tables keep decreasing on Nevada casino floors

    March 25, 2017 | AP | Regina Garcia Cano

    LAS VEGAS (AP) — When the Monte Carlo casino closes its eight-table poker room in about a month as part of a $450 million overhaul, the Las Vegas Strip will be down nearly a quarter of the tables it had a decade ago.

    Casinos constantly adjust their floors to meet customer demand. And unlike the boom years when they competed for card fans after everyman Chris Moneymaker won the World Series of Poker's main event in 2003, poker's appeal in Sin City has been weakening this decade.

    Some casinos have made their poker rooms smaller. Others have eliminated them entirely.

    "Casinos added more tables in response to popularity, and once it became less popular, they took away the tables," said David Schwartz, director of the Center for Gaming Research at the University of Nevada, Las Vegas. The peak of the poker room was 2007.

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  • The Raiders Move: What’s In It for Las Vegas?
    Like other cities on the outside looking in, Las Vegas sees joining the NFL club as a way to raise its civic stature. Unlike other suitors, the money and the political will are there—in abundance

    March 24, 2017 | MMQB | Alex Prewitt

    LAS VEGAS — Sunlight streams through the sixth-floor windows of the Clark County Government Center and bounces off 13 metal shovels hanging on commissioner Steve Sisolak’s office walls. Each one commemorates the start of a different construction project, more dirt dug in the desert. One for the clubhouse of the Las Vegas 51s, the Mets’ Triple-A affiliate and the city’s longest-tenured team. Another when ground broke on UFC’s headquarters, a sprawling campus for the world’s fastest-growing sports league. A third for the new practice facility of the NHL’s incoming Golden Knights, the first—and so far only—major professional franchise that Las Vegas has ever called its own.

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  • Las Vegas tourism spending nearing $60 billion

    March 17, 2017 | Las Vegas Review-Journal | Todd Prince

    Southern Nevada is one $10 souvenir per tourist away from breaking the big 6-0.

    The region’s tourism industry generated a record $59.6 billion in economic activity in 2016 driven mainly by higher spending per person, according to a new study by Las Vegas-based Applied Analysis. The number consists not just of direct spending by tourists, but also the indirect impact on suppliers and spending by tourism employees.

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  • New Financing Rejuvenates Las Vegas Stadium
    With public financing and a new investor on board, the NFL team's plan to build a new stadium still in play

    March 15, 2017 | Venues Today | Bridget Manley

    Rendering of the proposed 65,000-seat Raiders' Las Vegas Stadium. (Photo Credit: MANICA Architecture)

    If all goes according to the new plan, the Oakland Raiders could have a new home in Las Vegas. And they would have taxpayers partially to thank for it.

    Last year, the Nevada Legislature approved an 0.88 percent increase in hotel occupancy taxes that will raise $750 million for the project, said Jeremy Aguero, a principal analyst with Applied Analysis, a firm The Las Vegas Stadium Authority has retained to study the proposed stadium.

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  • LVCVA meeting reveals record amount of spending, visitors

    March 14, 2017 | Las Vegas Now | Christianne Klein

    LAS VEGAS - Record economic growth and what to do with the Cashman Center were hot topics at the Las Vegas Convention and Visitors Authority meeting Tuesday.

    In addition to dealing with the economic impact of visitors in southern Nevada, the report also laid bare the region's Achilles heel, which is a massive dependence on tourism.

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  • Raiders and UNLV negotiations 'complicated' for future stadium

    March 9, 2017 | Las Vegas Fox 5 | Vince Sapienza

    FOX5 Vegas - KVVU

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  • Details of lease agreement between Las Vegas officials, Raiders emerging

    March 7, 2017 | Las Vegas Review-Journal | Richard N. Velotta

    More details of a proposed lease agreement between the Las Vegas Stadium Authority and the Oakland Raiders are expected to emerge Thursday when the 11-member board meets.

    But the board hasn’t scheduled a vote on a lease at the meeting, the last scheduled board gathering before the Raiders take their relocation request to NFL owners March 26-29 in Phoenix.

    Thursday’s meeting at the Clark County Government Center is more likely to be informational with few decisions reached.

    Jeremy Aguero, principal for Applied Analysis, the stadium authority’s contracted staff, said Mark Arnold of the Houston-based Andrews Kurth Kenyon law firm, the lead attorney for the authority, will brief the board on the lease negotiations.

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  • Will your property taxes be raised? How 2005 cap works and how it could be changed

    March 1, 2017 | Las Vegas Sun | Thomas Moore

    CARSON CITY — Homeowners may not think about property taxes often, but Nevada’s county and city government officials do. During this year’s Legislature, they’re busy asking state lawmakers to change the property tax abatement, or the cap, that limits how much larger your property tax bill can grow from one year to the next.

    The cap, enacted in 2005, those officials say, has caused revenues from property taxes to stay at roughly the same levels they were before the recession even though — as the economy improves — the demand for services from local governments has grown.

    As they testified before legislative committees, local government representatives listed services they said are suffering from flat revenues, chief among them education and public safety. Representatives from Clark County specifically said emergency-dispatch and emergency-response services were being negatively affected. Representatives from rural counties said repairs needed on streets and parks were being delayed or simply ignored.

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  • Nevada ranks high in corporate giving

    February 27, 2017 | Las Vegas Business Press | Craig A. Ruark

    Philanthropy is built into the structure of many of the world’s biggest and most successful corporations. In fact, some argue that it is because of these corporate philanthropic endeavors that they are successful.

    To measure that success, Moonridge Group, headed by founder Julie Murray, in partnership with Jeremy Aguero, Applied Analysis, and the Nevada Corporate Giving Council surveyed Nevada businesses as to their philanthropic efforts.

    The survey asked questions to determine the amount of funds and time donated to charities, along with the types of charities and causes during the calendar year 2015 or the fiscal year that ended June 30, 2016. The questions also included the amount of time donated by employees; how engaged the employees are toward the company’s philanthropic commitments; and the expected returns on those charity investments.

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  • The cheapest and most expensive homes sold in Las Vegas in 2016

    February 17, 2017 | Las Vegas Review-Journal | Eli Segall


    Eli Segall
    Real Estate Insider appears every Saturday in the Business section of the Las Vegas Review-Journal. Contact Review-Journal writer Eli Segall at (702) 383-0342.
    Follow him on Twitter: @eli_segall.

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    By ELI SEGALL
    LAS VEGAS REVIEW-JOURNAL
    Sitting on “billionaire’s row,” the megamansion features a Zen garden inside, a gym, elevators, a movie theater and even a nightclub. And last year, it fetched the highest price ever for a Las Vegas house.

    Another home, east of the Strip, is a small one-bedroom condo that faced foreclosure during the recession. It’s been spruced up but was the cheapest sale in the valley in 2016, trading for the price of a subcompact car.

    There were about 47,000 sales of previously owned homes in the Las Vegas Valley last year, with a median price of $199,900, according to Applied Analysis’ residential research arm, SalesTraq. But which properties sold at the extreme ends of this range?

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  • Median price of Las Vegas home rises 8.1 percent, report says

    February 17, 2017 | Las Vegas Review-Journal | Eli Segall

    Las Vegas’ outer edges may have the most home construction and the highest prices. But if you’re looking for the fastest-rising values, look closer to the core.

    The biggest jumps in median resale prices last year tended to be in older, more centrally located areas of the valley, according to a new report from Applied Analysis’ residential research arm, SalesTraq.

    West of downtown around Washington Avenue and Martin Luther King Boulevard, the 89106 ZIP code posted the fastest price growth, climbing 22.8 percent from 2015. That was followed by ZIP code 89146, around Sahara Avenue and Jones Boulevard, at 17.5 percent, and 89030, around Cheyenne Avenue and Interstate 15, at 16.3 percent.

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  • Economist details property tax cap’s dramatic toll on government budgets

    February 14, 2017 | Las Vegas Sun | Thomas Moore

    CARSON CITY — A property tax cap has cost governments in Nevada as much money in the last two years as was raised from new taxes and fees enacted in the last legislative session, said an economist at a joint meeting of the Senate Committee on Revenue and Economic Development and the Assembly Committee on Taxation at the Nevada Legislature Tuesday.

    “Lots of legislators have expressed to me that it feels like they were making strides and attempting to get forward but it felt like we’re not always getting ahead,” said Jeremy Aguero, a principal of the economic analysis firm Applied Analysis.

    Aguero was hired by a group of local governments in Nevada to examine property taxes and the cap, or abatement as it’s officially called, that was enacted in 2005 to provide tax relief to homeowners who, because of the housing bubble, were experiencing huge increases in property values.

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  • Local companies stepping up philanthropic giving

    February 10, 2017 | Las Vegas Review-Journal | Nicole Raz

    The conversation surrounding philanthropy is taking on a new tone in Nevada.

    “Back in 2013 there was almost a stigma to it (philanthropy),” said Jeremy Aguero, principal analyst at Las Vegas-based Applied Analysis.

    Back then, he said, he had a hard time getting information from companies about their volunteer programs and charitable giving efforts — but not anymore.

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  • Raiders next Vegas move? Looking at other potential investors
    Oakland Raiders’ hopeful move to Las Vegas needs new influx of financing after Sheldon Adelson and Goldman Sachs both pulled the plug.

    February 9, 2017 | The Mercury News | Elliott Almond

    Las Vegas officials have received queries from at least a half-dozen suitors interested in filling the investment vacuum left by casino mogul Sheldon Adelson and Goldman Sachs, bringing a sliver of optimism that the Raiders are on track to move to southern Nevada.

    Clark County Commission chairman Steve Sisolak said this week that he has forwarded all inquiries to Raiders officials, including one from a local Las Vegas developer with the resources to provide a substantial investment. Another came from a Japanese consortium and a third from a European group.

    Jeremy Aguero, whose research firm Applied Analysis serves as a liaison for the Las Vegas Stadium Authority, said board members have received “literally dozens of those types of calls” offering to help bring the NFL to southern Nevada.

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  • What Happened to the Raiders Relocation to Las Vegas?

    February 1, 2017 | Yahoo! Sports | Scott Winter

    Two weeks ago, the Oakland Raiders presented a Las Vegas stadium plan to the NFL Owners Stadium Committee in New York. Team officials told the public that Goldman Sachs “guaranteed” the proposal.

    Jeremy Aguero of Applied Analysis spoke with the team after the meeting. Later, he stated this to the Las Vegas Stadium Authority Board.

    “The team’s presentation highlighted its research that the Las Vegas market can support the team, that bringing the NFL to the market aligns with the league’s strategic goals and that Goldman Sachs is committed to financing the project with or without a third party.”

    “The Raiders told the committees that there is no deal in place yet with the Adelson family and that the team is pursuing approval with no third-party involvement.” “However, if an accord with the Adelson family is reached later, the team would bring that back for league approval.”

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  • Casino billionaire backs out of Raiders stadium deal in Las Vegas
    The team will have to turn to another investor to fund its $1.9 billion stadium in Nevada

    January 31, 2017 | CBS Sports | John Breech

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  • Raiders’ $1 rent proposal has ‘no meaning,’ Vegas official says

    January 27, 2017 | The Mercury News | Elliott Almond

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  • Business Journal honors Newsmakers of the Year

    January 25, 2017 | Grand Rapids Business Journal | Adam Kramer

    The Grand Rapids Business Journal’s 2016 Newsmaker of the Year is new to the region but plans to make a significant economic impact here far into the future.

    “Since the first day we announced this project and every day since, we have been humbled by the support in the community,” said Adam Kramer, executive vice president of strategy for Switch, the massive technology firm and data center currently making its home in the former Steelcase Pyramid building in Gaines Township south of Grand Rapids.

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  • UPDATE 4-Oakland Raiders seek NFL's blessing for move to Las Vegas

    January 19, 2017 | Business Insider | Alex Dobuzinskis

    an 19 (Reuters) - The NFL's Oakland Raiders filed paperwork with the league on Thursday to move to Las Vegas following months of negotiations to build a new stadium in Nevada, officials said.

    The National Football League said in a statement the Raiders' application would be reviewed in the coming weeks by its stadium and finance committees. The relocation of a franchise requires approval from three-quarters of the league's 32 owners.

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  • In wake of Raiders announcement, things to move fast for stadium board

    January 19, 2017 | Las Vegas Review-Journal | Richard N. Velotta

    Steve Hill recently put members of the Las Vegas Stadium Authority board on notice that they’d be meeting twice a month for awhile.

    It was a good idea.

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  • Housing market on the move

    January 16, 2017 | Las Vegas Business Press | Jeffery Meehan

    The housing market in Southern Nevada, for resale and new-home construction, is on course to see an increase in activity in 2017.

    “Valleywide, we’re looking at over 8,000 new home closings in 2017,” said Brian Gordon, principal at Applied Analysis.

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  • Raiders to reportedly file relocation paperwork for move to Las Vegas
    The Raiders could end up relocating to Sin City

    January 14, 2017 | CBS Sports | Ryan Wilson

    Days after the Chargers announced they were leaving San Diego for Los Angeles, the Raiders are planning to file relocation paperwork to move from Oakland to Las Vegas, according to NFL.com's Ian Rapoport.

    The move could be made official in the coming days and the Raiders would need 23 votes from the other NFL owners to formally make the move.

    Rapoport adds that there have been no credible stadium proposals put forward by the city of Oakland and it's only a matter of time before the Raiders pack up and leave town.

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  • Raiders to reportedly file relocation paperwork for move to Las Vegas
    The Raiders could end up relocating to Sin City

    January 14, 2017 | CBS Sports | Ryan Wilson

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  • Oakland Raiders say Las Vegas stadium financing secure without Adelson help

    January 13, 2017 | The Mercury News | Elliott Almond

    The Oakland Raiders have told NFL officials they have commitments from Goldman Sachs to finance a proposed $1.9 billion Las Vegas stadium project even without the help of casino magnate Sheldon Adelson.

    But the man helping the Las Vegas Stadium Authority develop a plan to bring the Raiders to Nevada said Friday many hurdles remain before relocation can happen.

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  • Raiders: Las Vegas stadium financing secure, with or without Adelson investment

    January 12, 2017 | Las Vegas Review-Journal | Richard N. Velotta

    Oakland Raiders executives have told the NFL that Goldman Sachs is committed to financing the team’s proposed domed stadium in Las Vegas with or without an investment from casino executive Sheldon Adelson, the Las Vegas Stadium Authority board learned Thursday.

    Jeremy Aguero of Applied Analysis, the company serving as staff to the authority, on Thursday provided an update on the Raiders’ relocation efforts after consulting with team officials earlier in the day.

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  • Raiders: Las Vegas stadium financing secure, with or without Adelson investment

    January 12, 2017 | Las Vegas Review-Journal | Richard N. Velotta

    Oakland Raiders executives have told the NFL that Goldman Sachs is committed to financing the team’s proposed domed stadium in Las Vegas with or without an investment from casino executive Sheldon Adelson, the Las Vegas Stadium Authority board learned Thursday.

    Jeremy Aguero of Applied Analysis, the company serving as staff to the authority, on Thursday provided an update on the Raiders’ relocation efforts after consulting with team officials earlier in the day.

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  • Forecasting Las Vegas’ future, from new roads to pro sports

    January 2, 2017 | Las Vegas Sun | Sun Staff

    The new year always invites future-gazing, but after the presidential election and its aftermath, 2017 is especially hard to peg. So we’re focusing on our corner of the world — this valley of more than 2 million souls — and widening the scope to the next five years, and all of the aspirations and conflicts that will take shape.

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