If you caught an employee using company funds for personal use, would you pay him to retire, give him a fat performance bonus and let him continue working for you as a highly paid consultant? Not in a million years. Yet, that’s exactly what the Las Vegas Convention and Visitors Authority (LVCVA) has done with CEO Rossi Ralenkotter, who recently received a retirement package … [Read more...]
CSN Foundation to Present Three Community Awards at Gala
The CSN Blooming in Blue Gala will help raise funds for the new health and science building at Henderson Campus. LAS VEGAS - The College of Southern Nevada Foundation is proud to announce the return of its fundraising gala on April 7 at the Rio All-Suite Hotel & Casino and the honorees who will be celebrated. The gala, the Foundation's first in four years, will help … [Read more...]
Nevada’s Economic Outlook: 2018 Blue Skies Ahead
It’s been a decade since the great recession hit Nevada. As we start the new year of 2018, the state’s economy overall remains in recovery mode, with the majority of related metrics remaining below their peaks in 2006 and 2007. Looking forward, we can expect continued steady, incremental growth of the economy in the Silver State at both regional ends, experts said, which is … [Read more...]
Well Played: Tourism in Nevada Roaring Back
Tourism has played a vital role in the Nevada economy since Hoover Dam was new and Reno invented the quickie divorce. The travel and tourism industry generates $3.2 billion in state and local tax revenues - 26 percent of the total tax revenues in the state - and represents $19.1 billion (about 13 percent) of Nevada’s gross domestic product (GDP). Nevada jobs attributed to the … [Read more...]
Which Nevadan Do You Most Respect?
“The Nevadan I most respect is former Governor Kenny Guinn for his honesty, integrity, his ability to relate to everyone and, most of all, his ability to bring opposing sides to compromise.” Bernadette Mashas | CPA, Tax Partner Fair, Anderson & Langerman “I have always admired what LVCVA President & CEO Rossi Ralenkotter has achieved for the Las Vegas tourism industry … [Read more...]
The Ups and Downs: Nevada’s Economic Forecast
Experts are bullish on Nevada’s overall economy this year, anticipating continued recovery from the recession and growth, they said. Four key markers support their outlook: Wages: The average private weekly wage for Nevada workers peaked in October at $758.86, representing a 2.3 percent year-over-year increase, according to Applied Analysis, a Las Vegas-based economic fiscal … [Read more...]
A Boon to Nevada’s Economy: Tourism Growth
A bright spot in Nevada’s economy, the tourism industry, has grown over the past few years and is a driving force behind Nevada’s comeback. In fact, the industry has grown to the point that Elko outgrew its convention center and Las Vegas plans to expand its facility. This hospitality/leisure sector accounted for 28.1 percent of the state’s total employment at the end of … [Read more...]
Economic Forecast 2016: Increasing Stability and Growth
According to analysts, Nevada’s economy will continue to show improvement in 2016, but with a few new wrinkles thrown in. Rising wages will mean more disposable income, which in turn boosts consumer spending. Job creation, described as the single best indicator of economic growth, is expected to add more than 52,000 workers to company payrolls this year, according to the Nevada … [Read more...]
Nevada’s Tourism Industry: Going Strong
Nevada’s tourism industry, like several other industries in the state, has experienced a recent uptick in business. For example, just last month, the Reno-Sparks Convention and Visitors Authority (RSCVA) beat out Tampa, Phoenix and San Juan, Puerto Rico, to book the rare 18,000-room American Legion national convention for 2020. Additionally, developers began work on Resorts … [Read more...]
Gaming: Betting on a Comeback
Nevada’s gaming industry today continues to recover, with some regions faring better than others. “Both Southern and Northern Nevada markets are struggling right now,” said John Farahi, CEO of Monarch Casino & Resort Inc., which owns Atlantis Casino Resort Spa, in Reno. State gaming revenue has been picking up slowly since it took about a $2.4 billion hit when the … [Read more...]
