LAS VEGAS, NV – According to reports, the Rio All-Suite Hotel and Casino in Las Vegas, Nevada has been sold by Caesars Entertainment to a real estate investment company for $516.3 million. The buyer, controlled by the firm Imperial Companies, has agreed to acquire the Rio Casino-Hotel, which is located on the famed Las Vegas Strip. Under the terms of the announced agreement, Caesars will still operate the hotel/casino for at least the next two years, paying the new owners $45 million a year in rent. After two years, Caesars retains a $7 million option to continue managing the property…
LAS VEGAS, NV – Many Las Vegas construction projects that are either in the planning stages or are currently in the works are facing the very real threat of skyrocketing costs in the face of trade tariffs brought on by the ongoing US/China Trade War, according to recent reports. As previously announced by President Donald Trump, on October 1, 2019, new tariffs – ranging from 25 percent to 30 percent – will be placed on $250 billion worth of Chinese goods; in addition, $160 billion worth of Chinese goods will come under a new 15 percent tax due to be…
LAS VEGAS, NV – The Las Vegas Sphere, a 400,000-square-foot, 18,000-seat, 360-foot-tall globe-shaped arena slated to be constructed on 63 acres of property located behind the Venetian Resort Hotel Casino on the Las Vegas Strip, is currently running over initial cost estimates. As a result, the ambitious project – helmed by developer Madison Square Garden Co. – may cost upwards of $500 million more than first projected, inflating its final price tag to as much as $1.7 billion, reports say. Originally, Madison Square Garden Co. – in conjunction with partner Las Vegas Sands Corp. – had estimated the cost of…
LAS VEGAS, NV – According to reports, despite the fact that rental prices for apartments in the Las Vegas area have increased over the past 12 months more than any other major U.S. metropolitan area in the United States, the market is nonetheless still considered by experts as remaining quite healthy and affordable, especially compared to neighboring states such as California. In a recently-released Zillow report, the median rent in Las Vegas for all property types was $1,435, which represents a 10 percent jump from the same period one year prior. However, local realtors are disputing this figure, noting that…
LAS VEGAS, NV – According to reports, Bleutech Park Properties, Inc. recently announced a truly ambitious project that is slated to break ground in the Las Vegas Valley in December 2019 – Bleutech Park, a so-called “smart mini-city” that will combine cutting-edge tech with new design principles which the developer claims will influence future construction. Its description certainly makes Bleutech Park sound like something out of “Star Wars,” or “The Jetsons” with the developer noting that the $7.5 billion project will feature renewable energy source-powered “net-zero” buildings, meaning buildings with zero net energy consumption; the total amount of energy used…
WASHINGTON – On July 31, the Federal Reserve cut interest rates by 25 points, making it the first time they have done so since the national recession in 2008. In addition, the central bank also ended quantitative tightening – a process of shrinking its balance sheet – two months ahead of schedule. The interest rate cut changes the target benchmark rate to a range of 2 percent to 2.25 percent amid concerns of a possible slowing of the nation’s economy, citing “implications of global developments for the economic outlook as well as muted inflation pressures” . According to a statement…
Buying A Home In Las Vegas We’re Here To Help Make Buying Simple Buying a home can be a complicated at times, especially when dealing with short sales or distressed foreclosure properties. Plenty has changed in our local real estate market over the past several years, so we have outlined the steps involved in working with a real estate agent to find the best deal and get an offer accepted on a home. At A Glance – The Steps Involved In Buying A Home: The bullets above are obviously a simple outline of the homebuying process. There is a lot…
LAS VEGAS, NV – According to reports, the cost of the upcoming and in-progress Las Vegas Stadium – future home of the Las Vegas Raiders National Football League’s (NFL) team come 2020 – has risen beyond previously stated points, with an extra $40 million added to the price tag as the project hits its mid-point. Currently, the new price tag comes in at $1.9 billion, reports say. $750 million of the project’s cost is coming from taxpayer funds. The additional money is said to be going towards new additions to the project, including 20 additional suites and a club area…
Despite Concerns, California Earthquakes Have No Affect on Construction of Las Vegas Raiders Stadium
LAS VEGAS – Last week, Southern California was rocked by earthquakes as high as 7.1 in magnitude in the Death Valley region, causing a plethora of issues in communities near and far of the affected areas. Luckily, there was no loss of life reported, despite the fact that numerous buildings were damaged and multiple fires started as a result of the intense tremors. The quakes were felt in Los Angeles, Mexico, and even nearby Las Vegas, Nevada, causing concerns that the currently-ongoing construction of the NFL Raiders football stadium would be affected. However, according to reports, the effects of the…
LAS VEGAS – Work on the Las Vegas Stadium – the near-future home of the famed Oakland Raiders National Football League (NFL) team – has entered what the reports are referring to as the “most difficult” and “most dangerous” phase of its ongoing construction efforts. Since breaking ground on the new $2 billion, 65,000-seat stadium on Nov. 13, building crews are set to begin elevating 22 canopy trusses – each weighing 65 tons apiece – in order to affix them to the rim of the stadium at its highest points, many of which are as high as 120 feet off…
LAS VEGAS – The Reno, Nevada home of late Stephen Paddock, the individual behind the tragic 2017 Las Vegas shooting that claimed the lives of killed 58 people and wounded 422, has been sold for $305,000 in cash after sitting on the market for the past nine months, according to reports. Northern Nevada real estate agent Margaret O’Neill purchased the two-bedroom property, offering a bid that was $5,000 higher than a couple who were also interested in it. O’Neill was quoted in media reports as saying that her firm will likely attempt to re-sell the home, which is located in…
LAS VEGAS – Despite recent reports to the contrary, construction on the upcoming Las Vegas NFL Raiders Stadium – while facing a series of hurdles in recent days – will nonetheless be opening on time for the team’s first pre-season game, slated to take place on August 6, 2020. According to reports, the Raiders’ construction manager, Jones Lang LaSalle, recently and erroneously told the team’s board that the July 31, 2020 completion date for the stadium has been bumped back to August 4; right afterwards, most major media outlets reported the incorrect news, spreading headlines declaring that the finish of…
