September 22, 2023 | The Hollywood Reporter | Melinda Sheckells
Before the 2017 NHL season and the debut of the Golden Knights, Las Vegas had no professional sports franchises — in fact, the idea of allowing teams to play in a city where sports betting was legal seemed dicey at best.
This year, the Knights and the WNBA’s Las Vegas Aces both won championships. The Raiders are playing their fourth NFL season in Vegas after moving from Oakland, and in February, their home field, Allegiant Stadium, will host the Super Bowl. And this fall, the Strip will become a Formula 1 track for the biggest North American Grand Prix race to date.
April 21, 2023 | Las Vegas Review-Journal | Mick Akers
The Oakland Athletics are seeking up to $500 million in public money to build a new stadium in Las Vegas.
April 19, 2023 | Las Vegas Review-Journal | Mick Akers
The Oakland Athletics have zeroed in on Southern Nevada, signing a binding purchase agreement for land just west of the Strip where a major-league ballpark could be constructed.
The agreement is for 49 acres at Dean Martin Drive and Tropicana Avenue, owned by Red Rock Resorts, parent company of Station Casinos.
“For a while we were on parallel paths (with Oakland), but we have turned our attention to Las Vegas to get a deal here for the A’s and find a long-term home,” A’s President Dave Kaval told the Review-Journal on Wednesday. “Oakland has been a great home for us for over 50 years, but we really need this 20-year saga completed and we feel there’s a path here in Southern Nevada to do that.”
April 17, 2023 | Las Vegas Review-Journal | Dave Berns
The shuttered retail complex Hawaiian Marketplace has been demolished to make way for a new 300,000-square-foot retail center on the east side of Las Vegas Boulevard, just south of Harmon Avenue.
Read More »April 11, 2023 | Las Vegas Review-Journal | McKenna Ross
The global gaming industry’s suppliers are rebounding from the effects of the pandemic, according to a new study.
Read More »April 11, 2023 | New3 LV | Steve Wolford
LAS VEGAS (KSNV) — Dozens of small and minority-owned businesses were at UNLV’s Black Fire Innovation Center Tuesday. They were there to pitch their businesses to the Las Vegas Super Bowl Host Committee and NFL Business Connect for an opportunity to work with NFL vendors ahead of Super Bowl 58 in Las Vegas next February.
“Considering I didn’t have a pitch, nor prepared, I think it went okay,” said Elite Photography Group owner Camilla Sjodin. She took part in the Shark Tank-style interview process in hopes of landing additional work ahead of the Super Bowl. “A big part of what we do is corporate events, and I imagine around Super Bowl there's going to be a huge demand for event photographers,” she said. “And, even though I'm a small business I can expand in a second.”
April 11, 2023 | CDC gaming | Buck Wargo
The average Las Vegas visitor spent a record $1,156 in 2022, boosting visitor spending to an all-time high of $44.9 billion, despite the city falling 3.7 million short of 2019 visitation levels prior to the pandemic.
A report issued Tuesday by research firm Applied Analysis and presented to the Las Vegas Convention and Visitors Authority’s board of directors shows that 2022 overall spending grew by 24.4% over 2021 and was 21.6% higher compared to 2019.
The annual report outlines economic impacts associated with the region’s tourism industry and convention travel, including visitor spending on rooms, dining, shopping, sports, local transportation, and other activities and amenities.
March 27, 2023 | Las Vegas Review-Journal | Brian Gordon, CPA Principal, Applied Analysis
Consumers have been on a spending spree since the economy reopened and stimulus programs rolled out. At the same time, four-decade-high inflation has also been pushing prices to unprecedented levels in the past year. All of this has pointed toward consumer spending patterns that have reached new heights. Quite frankly, since last year, I have been touting that this renewed pace of spending is unsustainable. I have been proven wrong—at least to date.
Whether you agree with the policy decisions to stimulate the economy during the past three years, it is clear that the actions by the federal government shortened the length of the economic fallout and extended the recovery that ensued. The intentional shift has clearly impacted consumer behavior. Consumers felt flush with cash, homeowners were locked in record-low mortgage interest rates and wages ratcheted up in response to labor shortages. As a result, slowing the spending spigot has been difficult for many.
February 10, 2023 | Las Vegas Review-Journal | Buck Wargo
Despite rising mortgage rates slowing new and existing home sales, a housing expert told the Southern Nevada homebuilding industry that’s temporary and with 6,000 people moving to Las Vegas a month, there could be a housing shortage within the next one to two years.
The presentation made by Brian Gordon, a principal at Applied Analysis, will help ease concerns of builders looking to construct more homes amid the current slowdown. His catch phrase is how the housing market is starting to stabilize after its decline. New home net sales — sales minus cancellations — fell 33 percent in 2022 while the median new-home price rose 17 percent, according to Las Vegas-based Home Builders Research.
February 6, 2023 | Las Vegas Sun | Ray Brewer
Jeremy Aguero, the principal analyst with the fiscal and policy research firm Applied Analysis, late last month detailed the economic growth experienced in Las Vegas over the past 10 years to an audience of the business community at Preview Las Vegas.
Aguero, a master at presenting his findings after more than two decades of economic and fiscal impact dissection, certainly caught everyone’s attention.
February 4, 2023 | Las Vegas Review-Journal | Richard N. Velotta
There are plenty of things that give economist Jeremy Aguero sleepless nights.
Last week, Aguero, of Las Vegas-based Applied Analysis, admitted airport capacity has become one of those issues.
“There are a lot of things that worry me,” Aguero said. “I’m worried about I-15. I’m worried about water policy. I’m worried about the airport. I’m worried about having enough employees. This is one of a number of things that keeps me up at night. I don’t know if that should be a determinant factor, but the fact that we are going to hit capacity before we have a plan in place to expand capacity, yeah, that’s one of the top five things that keeps me up at night.”
February 2, 2023 | This is Reno | Bob Conrad
An economist speaking last week at the Economic Development Authority’s annual state of the economy luncheon said northern Nevada’s economy has much to celebrate even as recession is looming – if it’s not already here.
A low unemployment rate, a rise in incomes and a large amount of money churning in the local economy are reasons both for optimism and concern. That’s according to economist Brian Gordon who gave the keynote address at the luncheon.
“We are now spending beyond our means. We’re spending more than we have coming in the front door,” he said. “This has the potential to be problematic.
“Is the sky falling yet? I don’t think that we’re quite there,” Gordon added. “But … obviously we’ve got some concerns in terms of what’s happening from a national perspective, right?”
February 1, 2023 | UFC |
UFC, the world’s premier mixed martial arts organization, today announced that their first-ever event in France, UFC FIGHT NIGHT: GANE vs. TUIVASA, generated €33.4 million (US$33.4 million) for the Paris region, according to a study conducted by research firm Applied Analysis.
The event, which took place on September 3 at the Accor Arena, had a sellout attendance of 15,405 and grossed more than €3.4 million in ticket revenue, setting a live event gate record for the arena. The event, which followed more than a decade of efforts by UFC to get the sport of MMA formally recognized and regulated by the French government, captured the attention of the sports world with many fans flocking to the capital city to be part of this historic occasion
January 26, 2023 | Reno Gazette Journal | Jason Hidalgo
Reno-Sparks can “power through” a recession should a nationwide downturn occur this year, but housing and education are critical issues that must be addressed in order for the area to sustain growth.
That was the message at the Economic Development Authority of Western Nevada’s annual state of the economy forecast held Thursday at the Peppermill Resort Spa Casino in Reno.
January 26, 2023 | The Nevada Independent | Jacob Solis
Northern Nevada economists and economic development experts on Thursday forecast a recession even as they touted the strength of the region’s diversification over the past decade — including the announcement this week of Tesla’s $3.6 billion expansion.
“I don't expect it to be long, I do not expect it to be deep, but I would not be surprised if we do see some of that correction,” Brian Gordon, a principal at the firm Applied Analysis, told The Nevada Independent.
January 23, 2023 | Las Vegas Review-Journal | Brian Gordon, CPA Principal, Applied Analysis
Questions about where the Southern Nevada housing market is headed have become commonplace. Most recall the economic devastation caused by the Great Recession and the corresponding global financial crisis over a decade ago. During that timeframe, Las Vegas earned the moniker of the foreclosure capital of the world. In the blink of an eye, homeowners saw their home values drop by more than half and personal wealth tied to real estate vanish. During this time, the Las Vegas area ranked first on every list of housing market devastation metrics, including foreclosures, negative homeowner equity and residential vacancies.
Read More »January 20, 2023 | Fox 5 Vegas | John Huck
Jeremy Aguero of Applied Analysis
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