SEPTEMBER 1 Issue - Vegas Business Digest Recap

SEPTEMBER 1 2023 / ISSUE NO. 87 / ARCHIVE

This Week's Top Stories

Q&A: Bob Cerminaro, CEO of Bank of Nevada, Division of Western Alliance Bank

Bob Cerminaro is the new CEO of Bank of Nevada and has nearly 30 years of banking experience serving in a variety of senior-level commercial, corporate and investment banking leadership roles.

From left to right: Senator Jacky Rosen, CEO and President of MGM Resorts International Bill Hornbuckle, President of the Las Vegas Raiders Sandra Douglass Morgan, President and CEO of the Vegas Chamber Mary Beth Sewald, and CEO and President of the Las Vegas Convention and Visitors Authority Steve Hill (Courtesy of Senator Jacky Rosen's Office)

Last Friday, U.S. Senator Jacky Rosen (D-NV), chair of the Senate Commerce Subcommittee on Tourism, Trade and Export Promotion, led a field hearing that examined ways to attract large sporting and entertainment events to the U.S., with a focus on Las Vegas’ experience, and the impacts that sporting and live entertainment events have on the local economy. Witnesses for the hearing included CEO and President of MGM Resorts International Bill Hornbuckle, CEO and President of the Las Vegas Convention and Visitors Authority Steve Hill, President and CEO of the Vegas Chamber Mary Beth Sewald, and President of the Las Vegas Raiders Sandra Douglass Morgan.

*PNC Chief Economist Gus Faucher (Courtesy of PNC Bank)*

This article is written by PNC Chief Economist Gus Faucher.

Real GDP growth in the second quarter was revised lower, to 2.1% annualized, from 2.4% in the previous estimate.
Corporate profits fell for a third straight quarter, although the decline was more modest.
Real gross domestic income growth in the second quarter was weaker than GDP growth, at 0.5% annualized. This followed declines in the two previous quarters.
Weaker growth in real GDI, relative to GDP, may be an indication that tighter monetary policy is weighing on the US economy.

FINE Entertainment Management to Bring ‘The George Sportsmen’s Lounge’ to Durango Casino & Resort in Las Vegas

*The George exterior rendering (Renderings Credit: Hatch Design Group)*

FINE Entertainment Management is opening The George Sportsmen’s Lounge (The George) this fall at the new Durango Casino & Resort.

Created by entrepreneur and Founder/CEO of FINE Entertainment Management, Jonathan Fine, says the concept pays homage to classic Vegas big tippers, commonly called “a George” – a nod to the recognizable portrait on the one-dollar bill. The new sportsman lounge will bring this persona to life by embodying and evoking the spirit of George by bringing the buzz and being the pulse of excitement. At The George, it’s not just about being at the party, you are the party.

This article is written by Troy Reierson, CEO of Berkshire Hathaway HomeServices Arizona, California and Nevada Properties.

"In the dynamic world of real estate, success is often measured in numbers - deals closed, properties sold, profits made. But beneath the surface of these metrics lies a vital force that drives a company's true achievements - its culture. As I reflect on my journey in the real estate industry, I've come to realize that culture isn't just a buzzword; it's the heartbeat of an organization. Show me an organization with no culture, and I will show you an organization that is black and white, yet to move to color. "