The only State event I could find with an online element for the holiday season... the Festival of Trees. This silent auction created by the Nevada State Department of Cultural Affaires - Library and Archives is now in it's third year, has over 80 items and runs until December 8th. The proceeds are going specifically towards the Joseph Anderson Exhibit Gallery, so Reno Readers should all scurry over and pick up a fine, fine tree, such as the twiggy thing displayed to the right.

Posted by pokerprof at 10:39 AM | Permalink | Comments (0)

A report in Business Week Online is saying Boyd Gaming may be in position to receive the next big buy-out offer. According to Lawrence Haverty of Gabelli Global Multimedia Trust, Boyd Gaming may be the target of Carl Icahn, owner of the Stratosphere and the two Arizona Charlie's casinos. Haverty belives the major appeal Boyd Gaming has for Icahn is the real estate holdings in Las Vegas.

Icahn already owns a major piece of the Boulder Strip with Arizona Charlie's so adding the Boyd acreage would make him the big dog of the Boulder Strip. The Boyd's Echelon Place acreage on the Las Vegas Strip could finally provide Icahn the presence to be a major Vegas player. Of course this is all based on Lawrence Haverty's thoughts about the short term future of Las Vegas. FYI, he's the guy that forecast the coming offers for Harrah's, Aztar, and Tribune months before they became public.

Posted by pokerprof at 10:12 AM | Permalink | Comments (0)

Eleven to ten, that's the margin of control afforded Republicans in the Nevada State Legislature...one seat! Now, using every effort imaginable Reno Republican Majority Leader, Bill Raggio, seeks to ensure that Republicans continue to control all the committees.

Now it's set up with 21 total members, 9 committees with 7 members each. The current (and quite fair method) puts each member on three committees. Of course, this means that with the slim margin of majority the Republicans stand to lose control of 3 of the 9 committees. Majority Leader Bill Raggio (Reno) comes forward with his solution to this Republican dilemma. Simply reduce the membership for 3 of the committees from 7 to only 5; allowing Republicans to retain total control with thier single seat majority.

The biggest problem I see with this political genocide is it allows a narrow, unpopular majority to take total control the Nevada State Legislature--and be it Democrat, Republican, GreenThumb or Wig--allowing such total control by any majority party can have devastating consequences for every citizen. Remember, Absolute power corrupts...absolutely.

Let the minority have 3 of the 9, let our representatives re-learn the art of negotiation, compromise and reason. Let's pay attention to people like Bill Raggio, people who decide so many elements of our government. The greater a politician's interest in continually seeking total dominating power, then the closer our collective scrutiny should look. Put these power addicted individuals under the public microscope because they will require constant monitoring and supervision.

Read more over at the LVRJ and LVG

Posted by pokerprof at 11:15 AM | Permalink | Comments (0)

New scrutiny is directed at the 'happiest mayor in the United States', with the running a scathing article on 'Vegas Juice' that outsiders face. At the same time the Nevada Ethics Commission has agreed to take jurisdiction over a Steve Miller complaint where-in Steve points out the numerous relationships and tie-in's that exist between the Mayor, his former law firm of Goodman, Chesnoff & Keach and the recent owners of the Crazy Horse 2.

The problem partially stems from the owners of the Crazy Horse 2 being "bad neighbors" and allowing an over-the-top number of falling down drunks loose on our streets. I say Partially because the Crazy Horse 2 has done its share to remain a high profile joint getting negative reviews; but, more so because former City Counsel member Steve Miller is so phenomenally good at being a pain in the ass.

In a nutshell, Hizzoner Oscar has been wonderful for Las Vegas and the it's image. If we are a people that can look past our Nation's Vice President shooting people, I certainly believe we can look past Oscar Good being one of the best Criminal Defense Attorneys in the World, after all, the only thing the Mayor is guilty of is being himself.

I, for one, sincerely hope Mayor Goodman renews his Senate interest after he wins his 3rd (and final) term as the Mayor of Las Vegas.

Goodman loves Las Vegas, and judging by the ever expanding, ever prospering and ever entertaining local scene, I'd say he doing a fine job keeping Las Vegas on the very top as the Entertainment Capitol of the World.

Given a choice between politicians and the mob, I'll take the Mob...at least they are honest about cheating you.

Posted by pokerprof at 6:47 AM | Permalink | Comments (0)

From BusinessWeek online:

Boyd Gaming (BYD ) may be the next target in the buyout wave sweeping Las Vegas. On Oct. 25, Harrah's (HET ) Entertainment, featured in this column on May 29, got a $15 billion bid from Texas Pacific Group and Apollo Management. Earlier, casino owner Aztar (AZR ) was bought out after a four-way bidding war. "This time, it is Boyd, which owns and operates casinos in Nevada and four other states, that may be taken private," says Lawrence Haverty of Gabelli Global Multimedia Trust (GGT ). He identified Harrah's, Aztar, and media giant Tribune (TRB ) months before they became targets. Like them, Boyd owns valuable assets that are way underpriced, says Haverty, who puts its "private-market value" at 70 a share. The stock is now at 42.11, and Chairman William Boyd owns a 30% stake. Boyd's big attraction is its real estate in Vegas, Haverty says. It also owns 50% of the Borgata Hotel Casino & Spa in Atlantic City with MGM Mirage (MGM ). Major operators such as Steve Wynn or deal-hungry private equity groups could go after Boyd, says Haverty. But he says the most "fascinating player" who may make a bid is Carl Icahn, who already owns the Stratosphere and "is still trying to get a major foothold in Vegas." Icahn knows the value of land in Vegas, he adds. Lawrence Klatzkin of Jefferies (JEF ), who rates Boyd a "buy," notes that it is down 35% since its peak in April, but its "long-term potential hasn't changed." One big project is the $4 billion Echelon Place casino at the north end of the Strip, scheduled to open in early 2010. Boyd declined comment on any speculation.

Posted by Zounds Off at 4:48 PM | Permalink | Comments (0)

First, it looks like the Unions are raising the ante in the Wynn dealer dispute which started when Wynn decided to include floor supervisors in the dealer tip distribution, costing dealers thousands a year in expected income. An investigation is under way by the National Labor Relations Board into a complaint filed by Cynthia Fields. Fields' complaint included the strong accusation that "[Wynn Resorts] threatened employees with termination and reduction in pay because of their protected activities and support for the Teamsters Union Local 995." Strong language, but nothing but words at the moment. [lvbusiness]

Also a picket is planned for today, Friday the 24th, between 2pm and 5pm by the International Union of Gaming Employees. [WynnDealers]

In other news, Question 5 Smoking Ban - Dec 8th is the compliance deadline for bar, tavern and saloon owners.

Now that the Smoking Ban is becoming law and tavern owners are being forced to choose between food and smoking, most seem to be crying foul and throwing out the food rather then the smokers. [lvbusiness]

Posted by pokerprof at 9:32 AM | Permalink | Comments (0)

From the Carribean News Net:

Hugo Cancio, President and CEO of Fuego Entertainment, Inc., a public media and entertainment company, has announced that he will establish an exploratory group called the US-Cuban Investment Committee to assist the reconstruction of his native country, Cuba, and in the process, to play a key-role in its transformation to a free economy.

"While American companies and investors are currently prohibited from investing directly in Cuba, we hope to be ready to act once those sanctions are lifted. Once the US embargo is lifted, the media and telecommunications sectors are industries that we would like to lead in the rebuilding of Cuba's infrastructure," stated Felix Danciu, President and Founder of Olive Capital, LLC, an investment banking boutique based in Las Vegas, Nevada, and member of the Board of Directors of Fuego Entertainment, Inc. "We want to make sure we are not only a think-tank, but that we are able to one day pursue potential investment opportunities in Cuba."

Posted by Zounds Off at 3:24 PM | Permalink | Comments (0)

Casino and hotel operator Columbia Sussex announced today it has won the final state approval it needs before closing its $2.8 billion takeover of Phoenix-based casino chain Aztar Corp.

The prime properties that Columbia Sussex gains are the Tropicana Casino & Resorts in Las Vegas and Atlantic City, N.J. The company plans to radically expand the Tropicana in Las Vegas from a 1,900-room hotel to 7,000 or more rooms.

Columbia Sussex currently owns four casinos in Nevada and also owns 80 hotels with more than 26,000 rooms.
Read more...

Posted by Zounds Off at 3:09 PM | Permalink | Comments (0)

From USA Today:

Nevada's caucuses will be in January 2008, between the Iowa caucuses and New Hampshire primary. The DNC wanted to move up a racially diverse state and to please Las Vegas' powerhouse, 60,000-member Culinary Union, says Michael Gehrke of the Senate Majority Project, a Democratic group separate from the party.

Posted by pokerprof at 8:19 PM | Permalink | Comments (0)

Thanks to press attention from the LA times on the questionable conduct of Nevada district judges, a new Blue Ribbon Article 6 Commission will now review, well, almost everything according to Chief Justice Bob Rose, "The commission will have wide discretion to examine not only the constitutional provisions governing the judiciary, but also any other major concerns about the Nevada courts." [LV Sun]

At present the commission includes State Senate Majority Leader Bill Raggio, Assemblywoman Barbara Buckley, former Secretary of State Frankie Sue Del Papa, Craig Walton (ethics expert), UNLV Law School Dean Richard Morgan and Culinary Union political director Pilar Weisswere.

Posted by pokerprof at 6:36 PM | Permalink | Comments (0)

"Everybody in favor of peace raise your hand."

Photo of Bush and Vladmir Putin in traditional Vietnam Tunics.

Found it on Irregular Times

Posted by pokerprof at 12:01 AM | Permalink | Comments (0)

From Raghand I see that campaign finance reform is never going to happen. The Democrats, now in a position to change it, are suddenly uninterested in altering our money driven political system.

From Gleaner I see that Harry Reid isn't only a powerful politician, but also, a powerful member of the Mormon Church, not just another parishioner.

Posted by pokerprof at 10:26 PM | Permalink | Comments (0)

A topic that recently caught my eye was the fast growing foreclosure rate. Foreclosure is considered a lagging indicator of trends in the real-estate market simply because it takes months for a foreclosure proceeding to complete. The rise in foreclosures is a tell-tale sign that the market has long since cooled off. Now, the late adopters who sought to reap the quick profits aren't finding buyers in time for their properties and this is good news for buyers over the next couple of years.

A sharp rise in foreclosures. Based on the current trends in the Vegas housing markets I believe it's safe to say unsold property in the area should be held until the market rebounds, and it will. Las Vegas is insulated from almost all national trends, and while they do impact our markets the effect is less in force and shorter in time then similarly situated markets, for the simple reason that "It's Vegas, Baby!".

For the buyer, the Vegas market is seeing a rare sagging and deals will continue to improve. This might be one of the last slumps before growth limitations, primarily water distribution curtail new and planned hosing projects.

As I noted in an earlier article, the high-end markets are completely unaffected by any of this and it's business as usual for the big ticket properties.

Bottom Line:
Sellers with properties under $1 million should HOLD.
Buyers look for properties under $1 million should WAIT, next year is projected to be an even softer market.

For more on Nevada Foreclosure Law see: www.foreclosurelaw.org

For more on Why we don't have a Right of Redemption for the Owner see:
The Nevada State Senate

Posted by pokerprof at 2:09 PM | Permalink | Comments (0)

Above map from the Nevada State Legislator [Larger Version]

Clark County in borken down into 12 Districts and represents the largest segment of the Nevada State Legislator. The only change to this body from the 2006 elections was a new representive for Clark County District 5, Joyce Woodhouse.

So, without further ado, here is the thumbnail for our Vegas area State Senators.

If your not sure who your State Political representatives are use this handy tool to find out.

Posted by pokerprof at 12:03 AM | Permalink | Comments (0)

Everyone who has a TV or gets a local paper of any kind has most likely heard about FAA plans to divert some liftoffs of planes to fly over neighborhoods such as Summerlin and The Lakes. For a couple years there has been a vocal outcry by these residents over the quality of life in their upscale enclaves, although, at one time flights were common over these areas. Jumping into the fray have been city councilmen, such as Steve Wolfson, and Las Vegas Mayor, Oscar Goodman, vowing to fight the FAA, even to the point of filing lawsuits. In defense of the FAA, the matter is simple: divert some flights or shorten the time between liftoffs. For safety reasons, diverting flights is the best answer. Allowing jets to liftoff too close to previous flights leads to disastrous consequences as seen in the November 2001 crash of American Airlines flight 587 after taking off from JFK International Airport, killing nine crew, 251 passengers, and five people on the ground. From Airsafe.com I found this accident sequence which details the plane's encounter with the wake vortex from an earlier flight which apparently tore flight 587 apart as evidenced by one engine and vertical fin piece which were found separate from the crash site.

"The NTSB calculated that the time between flight 587's liftoff from Runway 31L until impact with the ground was 103 seconds. The flight data recorder (FDR) recorded data for about 93 seconds after liftoff and the cockpit voice recorder (CVR) continued to record information until at or about the time of the plane's impact with the ground.
Based on radar data, flight 587 took off approximately 105 seconds behind a Japan Airlines 747. The FDR indicates that flight 587 encountered two wake vortices generated by JAL flight 47. The second wake encounter occurs about 8 seconds before the end of the FDR data. For the first few seconds after the second wake encounter, the aircraft responded to flight control inputs. Both wake encounters averaged about 0.1 G lateral (side to side) movement. During the last 8 seconds of FDR data, the plane experienced three stronger lateral movements, two to the right of 0.3 and 0.4 Gs, and then one to the left of 0.3 Gs. These lateral forces corresponded in time with rudder movements."

But I imagine that Las Vegas political leaders are more concerned over placating the affluent (whom I picture as attorneys, casino operators, and other business owners, who have made their riches from the tourists who fly into Las Vegas) than the safety of the tourist who, at best, is still a mark for the second largest carnival act in the world, now that Macau is number one. Oscar brags that he can say whatever he wants as he is beholden to no one...well, he got part of that right; he can say what he wants, but I guess he is afraid of alienating those rich and powerful voters who throw the best parties. Political and business leaders in the valley are all for uncontrolled growth and higher numbers at the airport--and roadways--but don't want it to impact any part of their lives other than their wallets and pocket books. However, a lawsuit against the FAA is probably a good idea, as long as they can bring it in Nevada courts, because, if it is heard by the Nevada Supreme Court, it is a guaranteed winner for Summerlin residents, as proved by the recent erroneous decision in favor of Steve Sisolak, UNLV regent (who bought property at the end of one runway in the 1980's subject to one height restriction ordinance already in place, never even applied for a variance through the approved procedure, and won millions of dollars in interest and damages). But, if they would win and a plane falls out of the sky because of too many flights on one path....

Posted by Zounds Off at 12:26 AM | Permalink | Comments (0)

photo by FlipChip/LasVegasVegas.com

The Federal Aviation Administration is expected to announce a change in the departure path out of the Las Vegas McCarran Airport, a move required to continue support the rapid growth of the Las Vegas metropolis by allowing more flights to service Las Vegas. The route has become a major issue with those neighborhoods that will be located within the audio foot print of the jet airliners passing overhead.

The flight change proposals created considerable controversy between the homeowners in the affected northwest Vegas neighborhoods and the FAA. Even though most of the affected home owners lobbied hard against the flight path change, at the end of the day the Federal airport people opted for higher passenger numbers, therefore the "right turn" departure out of McCarran International.

I'll be watching the North West Vegas real estate trends watching for the noticeable decline in property values predicted by the homeowners if the change was adopted. Combine this noise huisance with the national economy fueled downturn in the real estate market and we could see northwest homeowners getting hit with a double whammy. Not only will the airplanes be flying by, they'll be flying by in record numbers. Of course, altitude filters out sound, so hope they're high.

Posted by flipchipro at 12:13 PM | Permalink | Comments (0)

Concept art of two of the 21st century towers at the City Center Mega Resort

The most ambitious megaresort project Las Vegas has ever seen. MGM's City Center sits on 66 acres of prime Las Vegas Strip real estate. The complex will be almost 17 million square feet with over 7,000 hotel rooms and suites with every square foot designed by world renowned architects including HKS, Foster and KPF.

According to a recent InBusiness article the project will employ over 7,000 workers around the clock during it's peak construction period.

MGM Project CityCenter already has over 700 workers on site.

The first phase of the three phase is expected to open in 2009 with the rest opening in 2010.

The site sits in-between the Bellagio and New York New York across the strip from Planet Hollywood (frm. the Aladdin).

Posted by pokerprof at 11:05 AM | Permalink | Comments (0)

One of the America West Eagle Glen Incentive Properties

I've been working on an overview of the Las Vegas housing market; and while the extreme high-end (5 million plus) is still going strong the sales in other areas is falling off.

From one real-estate agents site:

The total number of sold homes in Las Vegas real estate for October was 1,689, down nearly 3 percent from September and down 34.4 percent from one year ago.

The median home sales price for Las Vegas town homes and condos for sale prices remained at an even $200,000. This price is up 2.6 percent from the same time last year.

Las Vegas condos and Las Vegas town homes a total of 357 units were sold, down 18.5 percent from the previous month and down 45.2 percent from the previous year.

[source]

In addition this I've recently been made aware of the America's West Glen Eagles $15,000 and alot of other incentives to realtors and buyers.

What does this mean? Pay attention, ask questions and above all make sure the home is the one you want, not the one the realtor wants.

The Vegas housing boom is over despite the Greater Las Vegas Association of Realtors 3Q report where they predict things are looking up when the numbers are down.

Posted by pokerprof at 9:50 AM | Permalink | Comments (0)

First, as a Nevadan I'm ecstatic that Searchlight Leadership aka Harry Reid now has the cat-bird seat in the Senate. This is a great moment for every resident of the State and congratulations are in order for our Democratic Senator now sitting at the nexus of power as Majority Leader of the Senate. I only hope that he can withstand the intense public scrutiny that will now hound his present and past dealings. I also pray that he have the moral and intestinal fortitude to withstand the barrage of less-then-honest dealings that will undoubtedly come his way.

The integrity of the Democratic party demands that its new leadership avoid any major morality or financial scandals for the next two years. The 2008 presidential election is gearing up and the Democrats have just received a big boost so any major scandal with the Democratic leadership is exactly what the Republicans need to level the playing field.

On the subject of the '08 elections, Chopper Jerry (aka Jerry Airola) the helicopter man said he plans on being a part of Rudy Giuliani's '08 Presidential campaign, as he says in this YouTube Clip.

I've also noticed that the Democratic/Republican plan for Iraq is a two-year phased withdrawal... which many are suggesting is far too long a wait. They're also saying the violence could escalate sharply as anti-occupation sentiment grows.
The new plan has James Baker at the helm, this is the most in-depth invterview I've been able to find so far...

Finally, even through it's a small story given that the Republicans were so thoroughly and soundly thumped nationwide, there are some serious voting issues from this mid-term election. Major problems plagued several States with notables including Colorado, New Jersey, of course, Florida.

Posted by pokerprof at 10:16 PM | Permalink | Comments (0)

With the passage of one of the more restrictive smoking bans in the nation, bar, club and tavern owners worry about the impact of the ban. The heart of the new law bans smoking anywhere food is served. The big fear from local bar owner's is their smoking patron's will head for major casino's where smoking will be allowed on the gaming floor and food is a few short steps away from the slots.

Now all of Nevada's tavern owners face a serious ultimatum: Get rid of the food or get rid of the smoking. Getting rid of smoking is considered suicide so expect to find a lot less to eat at the local watering hole. Prepackaged food (chips, pretzels, etc.) will be permitted, but that is all.

This isn't a smoking ban so much as a food ban and one I expect to be legally challenged from every possible angle.

Posted by pokerprof at 9:07 AM | Permalink | Comments (0)

It's official, the Democrats have control of the Senate as well as the House, it seems they still go hand in hand. And now with Nevada's own Harry Reid and Nancy Pelosi running the legislative, Bush is going to play ball and Rumsfeld is out.

The Rumsfeld resignation is not a purely political move; it's simply the right move with many political benefits.

Robert Gates will in fact review America's defense policy (Iraq) thoroughly; however, I don't believe this necessarily means Bush has conceded defeat. I believe Bush will pressure Gates to 'find a way to win it' and only when and if Gates states unequivocally that it is an un-winnable situation will President Bush pursue disengagement in Iraq.

As to the timing of Rumsfeld's resignation, it's a clear matter of the "Bush Will to Power" and his loyalty to close friends. I'm convinced that Pres. Bush knew the Republican's would hold power in both the House and Senate in the way only a person of faith can know. When this didn't happen Bush knew change was necessary, a sign from God, or as I prefer to think of it a sign from rational human beings.

An era of bipartisanship in Washington would be a refreshing surprise, I hope for the best as nothing would benefit the United States like a united and functional government. I'm seeing a serious effort for bipartisanship from Bush and Pelosi and I'm cautiously optimistic.

And to future Secretary of Defense Gates I say, "Godspeed," you face the 'challenge of this generation', cleaning up one of junior's messes.

Posted by pokerprof at 12:01 AM | Permalink | Comments (0)

While Nancy Pelosi(D) is now the first Woman Speaker in the history of the United States, Nevada Assembly Democrats followed suit electing Barbara Buckley as the State's first woman speaker.

Speaker Buckley is only one of the political challenges Gov. Gibbons(R) can expect to face according to InBusiness.

Posted by pokerprof at 12:54 PM | Permalink | Comments (0)

The Secretary of State Office has published the Nevada results of the 2006 midterm election and, by and large, Nevada is a Red stronghold which plans to stay that way a while longer, even if the margin is narrowing.

The Short of the major Races:

Ensign(R) took the Senate seat.
In the House of Representatives Shelly Berkley(D),Dean Heller(R) and Jon Porter(R) (Porter with 48.44% to Tessa Hafen's 46.59%) took the Seats.

Our new Governor Jim Gibbons survived the trio of scandals to take a narrow victor with 47% over Titus with only 44%. Brian Krolicki(R) is his Lieutenant.

Democrats won big with Ross Miller(D) over Danny Tarkanian