DECEMBER 23 2022 / ISSUE NO. 55 / ARCHIVE
This Week's Top Stories
Fontainebleau Development and its investment partner Koch Real Estate Investments have secured a $2.2 billion construction loan to complete Fontainebleau Las Vegas. J.P. Morgan was the administrative agent of securing the loan. SMBC, Blackstone, Goldman Sachs, Guggenheim, and VICI Properties provided the financing. The property is scheduled to open in the fourth quarter of 2023.
PNC Chief Economist Gus Faucher: Upward Revisions to GDP and Gross Domestic Income in Third Quarter, But Recession Is Coming Next Year
This commentary is written by PNC Chief Economist Gus Faucher.
- Real GDP and real gross domestic income were both revised higher in the third quarter, to 3.2% and 0.8%, respectively.
- Growth has slowed in 2022 from 2021 but remains solid. But higher interest rates are weighing on growth, with a contraction in housing.
- PNC expects a mild recession in 2023 as the Federal Reserve continues to raise interest rates.
This article is written by Brian Formisano, Wells Fargo Branch Banking Region Director in Las Vegas.
Last Friday, Legal Aid Center of Southern Nevada celebrated its 22nd annual Pro Bono Awards luncheon at Wynn Las Vegas. The luncheon recognized outstanding pro bono lawyers and law firms in Southern Nevada. To date in 2022, Legal Aid Center has helped more than 144,000 low-income individuals and families with critical legal problems.
Caesars Entertainment announced a $5 million VIP “Emperor Package” including five nights in the Nobu Sky Villa at Nobu Hotel Caesars Palace during F1 Las Vegas Grand Prix race weekend. Michelin-starred restauranteur Chef Nobu Matsuhisa will personally create a special menu and host a private dinner in the Nobu Sky Villa.
Henderson Chamber of Commerce President & CEO, Scott Muelrath, Selected as Chairman for Governor-Elect, Joe Lombardo
The Henderson Chamber of Commerce (HCC) announced that CEO and President, Scott Muelrath, has been appointed to serve as the Chair of the Government Reform Policy Committee. In his capacity, Muelrath will lead an experienced group of committee members, who have begun to craft policies to fulfill Governor-Elect Lombardo’s priorities and goals.
Last week, the Henderson Chamber of Commerce hosted a luncheon to honor Mayor Debra March.
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