revenue

Lake Tahoe South Shore area casinos post 17 percent gaming revenue increase in June

Gaming revenue, known as "win" for South Shore Lake Tahoe area casinos posted a 17 percent increase for the month of June, the Nevada Gaming Control Board reported on Thursday.
South Shore casinos took in a win of $16,555,235 in June compared to $14,128,801 during the same period in 2011.
Meanwhile, North Lake Tahoe casinos saw a 29.26 percent increase, taking in $2,417,863 for June.
Carson City area casinos, which include the areas of Minden and Gardnerville in Douglas County, had a 1.11 percent gain over June 2011 taking in $8,229,305.

Town of Mammoth Lakes declares bankruptcy

The worst possible outcome for Mammoth Lakes has come true. The town filed decided to declare municipal bankruptcy Monday morning, July 2. The Town Council took the action unanimously.
"It's wish this hadn't happened," said Mayor Matthew Lehman, "but it's not the way the cards fell for us."
The town immediately issued a press release regarding the Town council decision.

Governor Sandoval defends secrecy, tax breaks needed to lure Apple to Northern Nevada

CARSON CITY – Gov. Brian Sandoval on Thursday defended the secretive process that led to a decision by Apple to build a data center and related facilities in the Reno area that will bring $1 billion in investment to the area over the next decade.

Nevada casinos see April gain, South Shore down

Nevada casinos saw an increase in business in April, but the bump was driven largely by the southern half of the state and how the month's figures were counted.Statewide, revenue at Nevada casinos ...

US states forecast highest tax revenue in 5 years

WASHINGTON (AP) - U.S. states expect to collect higher tax revenue in the coming budget year that combined would top pre-recession levels, according to a survey released Tuesday. The increase could...

South Shore Lake Tahoe casinos see 4.3 percent decline in April 'win' revenue

South Shore Lake Tahoe gaming "win" at Stateline casinos for the month of April was down 4.43 percent over April 2011 figures, according to the Nevada Gaming Control Board.
North Lake Tahoe saw a steep decrease in win of 15.82 percent over 2011 figures, and the Carson Valley area, which includes Carson City, Minden and Gardnerville, had gaming revenue for casinos down 3.08 percent for the same time last year.
Year-to-date figures for South Shore Lake Tahoe remains in the plus category at 3.74 percent.

Opinion: June Skibum

Loop road poop road, you do realize that the state is going to do what they want, how they want and when they want with concerns to the Loop road. This is probably the best chance we have to get out of our financial obligation with regards to pensions, healthcare, unsound financial decisions, raising taxes, giving away the keys to the city to every con artist around and quite possibly the clap.

Nevada Business Margin Tax Initiative Petition Filed, Legal Challenge Expected

CARSON CITY – A business margin tax initiative petition filed with the Secretary of State’s office won’t see signature gathering efforts start right away because a legal challenge to the proposal is expected, a teachers union official said today.

Campaign urges Congress To OK Internet sales tax collections; Nevada delegation split

CARSON CITY — The National Retail Federation has launched a nationwide 60-day campaign to raise awareness among lawmakers and the public on how what it calls a loophole exempting online sales from sales tax is hurting local communities and job creation.
If Nevada’s five-member Congressional delegation is any indication, the group has its work cut out for it, with three members opposed and two supportive of the idea to allow states to tax online sales.

Governor eyes more cuts as Calif deficit swells

SACRAMENTO, Calif. (AP) - California's sputtering economic recovery is putting a heavier-than-expected drag on state tax revenue, leading Gov. Jerry Brown on Monday to propose deep budget cuts acro...

Coyote Grill Announces Phase One Expansion

Milky Way Incorporated dba Coyote Grill has announced the signing of an Amendment to its lease in Round Hill Square allowing it to more than double the size of its current business model.

Currently occupied by ‘Paradise Nails and Spa,’ Suite 102 is 1684 square feet and will allow the Coyote Grill to begin its long anticipated expansion that will include entertainment, gaming, pizza and varietal coffees and espressos.

Gaming revenue drops in Stateline, throughout Nevada

Gaming industry gross revenue up 3% nationwide

MontBleu’s owner posts quarterly net revenue loss

Heavenly-Northstar skier visits drop 24.2%; revenue holds steady

Nevada Governor Sandoval says Amazon online sales tax revenue is about fairness

CARSON CITY — Nevada Gov. Brian Sandoval said Thursday that a recent deal announced with Amazon.com to collect sales taxes from on-line purchases in Nevada beginning in January 2014 is only the tip of the iceberg.

Jeff DeFranco picked as LTCC's new vice president for administrative services

Lake Tahoe Community College’s Board of Trustees announced Tuesday that Jeff DeFranco, the current director of communications and facilities at Springfield Public Schools in Oregon, will be the college’s next vice president of administrative services.

DeFranco holds a master’s in educational leadership with an emphasis in higher education administration from the University of Oregon. He earned his undergraduate degree from California State University, Chico.

Nevada Governor Sandoval Announces Plan With Amazon To Collect State Sales Tax On Web Purchases

CARSON CITY — Nevada Gov. Brian Sandoval announced today that the state has reached an agreement with on-line retailing giant Amazon to begin collecting Nevada sales tax on purchases.

Industry leader attributes stable revenue stream to pre-booked vacations

OLYMPIC VALLEY - Snow sport enthusiasts were likely suffering a "snow hangover" last spring, according to Ralf Garrison, director of Denver-based Mountain Travel Research Program, an organizatio...

Industry leader attributes stable revenue stream to pre-booked vacations

OLYMPIC VALLEY - Snow sport enthusiasts were likely suffering a "snow hangover" last spring, according to Ralf Garrison, director of Denver-based Mountain Travel Research Program, an organizatio...

Purchase Of ‘Air Time’ Not Frequent But Some Nevada Lawmakers Want to Review

CARSON CITY – A little-known benefit of Nevada’s public employee pension plan is the right to purchase up to five years of service towards retirement.
Referred to by some as “air time,” or the ability to add years of retirement without actually putting in the time in a public sector job, the benefit can allow state and local government workers to retire early, collecting annual pensions years before they would be eligible otherwise.

Dry winter helps regional golf courses generate additional revenue

RENO, Nev. - Winter is normally a dead time for golf courses in northern Nevada, but this year's dry winter weather allowed regional golf courses to stay open - and build revenue - during a typical...

Dry winter helps regional golf courses generate additional revenue

RENO, Nev. - Winter is normally a dead time for golf courses in northern Nevada, but this year's dry winter weather allowed regional golf courses to stay open - and build revenue - during a typical...

Gaming revenue up in Nevada, including Stateline

Fitch Affirms South Tahoe Public Utility District with AA+; Rating Outlook Stable

Fitch Ratings affirmed South Tahoe Public Utility District on Monday as part of its ongoing survey of public agencies, noting the ratings outlook remains within the organization remains "stable."
The firm, which positions itself as a global rating agency dedicated to providing value beyond the rating through independent and prospective credit opinions, research and data, gave the water and sewer district a AA+ rating, noting $10.8 million sewer revenue certificates of participation. The ratings agency also asserts that STPUD continues to have strong reserves in place that protects the district against a reduction in its property tax revenues.

Two percent TOT funds Tahoe City project; future money for Kings Beach

The existing 2 percent Transient Occupancy Tax, which is up for renewal on the June 5, 2012 ballot, has funded a number of North Lake Tahoe public improvement projects and services since voters first authorized it in 1996.

The renewal, called Measure F, is not a tax increase and, if passed, would continue to be paid by lodging guests only via the TOT bed tax when they spend the night in North Lake Tahoe. North Lake Tahoe residents would not be taxed under Measure F.

KTHO radio enters partnership with Coyote Grill owner

Imagine a place at Lake Tahoe where local bands can go to play, with quality sound and lighting — and live performances streamed across the Internet to be potentially heard around the world.
That vision could become a reality this year under a new partnership between Coyote Grill owner Leland Faegre and South Lake Tahoe-based KTHO radio.

Nevada Highway Patrol to crack down on vehicles registered in other states

Beginning in April the Nevada Highway Patrol will step up enforcement and crack down on residents who register their vehicles in other states.

IRS says kickback scheme defrauded Calif. tribe

SACRAMENTO, Calif. (AP) - The Internal Revenue Service has moved to seize 23 properties, including vacation homes in Lake Tahoe and Maui, as part of an investigation into fraudulent billing practic...

Nevada Governor to Extend Sunsetting Taxes Into Next Two-Year Budget To Avoid Education Cuts

CARSON CITY – Gov. Brian Sandoval said today he will propose to extend a package of taxes now set to expire in June 2013 into the next budget to avoid further cuts to education, which he said cannot withstand further reductions.
To maintain a basically flat spending plan for the two-year budget that will begin on July 1, 2013, Sandoval said the modified business tax that was maintained at a higher rate for large businesses in the 2011 legislative session, along with a small increase in the sales tax, must be continued.

No deal: Still no agreement on US-IOC revenues

LAUSANNE, Switzerland (AP) - As Olympic leaders gather for their first executive board meeting of 2012, there is one thorny issue that won't be on the agenda for approval.The long-running revenue n...

Stateline aids state with surge in gaming revenue

March Message from the Mayor: The Choice to Move Forward Rests With Our Community

One of the critical issues continuously expressed by our citizens has been the condition of our town. Rundown, second rate and blighted are words often used in the same sentence as City of South Lake Tahoe. We love where we live, but we hate how we keep it.

That message was loud and clear in the City’s 2011 Citizen Survey we recently received. More than 70 percent of respondents said the appearance of our town was poor. More than 80 percent considered our roads the same way, poor or worse.

U.S. Indian gaming revenue rises slightly

Drop in skier visits brings Vail Resorts revenue down

Caesars’ revenue up, but loss widens on interest costs

MaryAnne Brand appointed to South Lake Tahoe interim Finance Director position

The City of South Lake Tahoe is pleased to announce the appointment of MaryAnne Brand to serve as Interim Finance Director replacing Christine Vuletich who resigned to accept a position with Douglas County. Ms. Brand’s first day in the position will be February 20, 2012.

Initiative filed that would raise gaming taxes in Nevada

A group backed by a conservative businessman took aim at Nevada's highest earning casinos Tuesday, filing an initiative to raise gambling taxes in a move that could intensify tax battles and test alliances going into next year's legislative session.
The measure filed by Nevadans for a Fair 9 Percent Gambling Revenue Tax is backed by conservative businessman Monte Miller. It would raise the top tier of gambling taxes to 9 percent for casinos that make more than $250,000 a month.

Full Text of President Obama's State of the Union address; GOP response

The following is the complete text of President Obama's State of the Union address as written.
Remarks of President Barack Obama - As Prepared for Delivery
State of the Union Address
"An America Built to Last"
Tuesday, January 24th, 2012
Washington, DC

Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests, and fellow Americans:

New bus shelters sprout up in South Lake Tahoe area; more on the way

The operator of BlueGo, the South Lake Tahoe area public transportation system, has installed four new bus shelters in the city with plans for three more in early 2012 to provide additional safety, convenience and comfort for riders.

Gaming win up in Nevada, down at Stateline

Despite a drop in Stateline casino gaming revenue in November, the state posted gains. Throughout Nevada revenues jumped 7 percent from November 2010 to November 2011. Casinos brought in $880 million....

Carson Valley casinos among few making a profit

Despite the fact that total revenue for Nevada's major casinos increased more than $1 billion in fiscal 2011, the 256 hotel/casinos making more than $1 million reported a net loss for the third str...

Revenues Increase But Major Nevada Casinos Lost $4 Billion In FY2011

CARSON CITY – Nevada’s major casinos saw total revenues increase to $22 billion last fiscal year, but the 256 properties reported a net loss of just under $4 billion, the Gaming Control Board reported today.
It was the third year of losses in a row. The only other loss since records have been kept came in 2002.
The report, called the Nevada Gaming Abstract, analyzes those casino properties grossing $1 million or more in gaming revenue for the year ending June 30, 2011.

Nevada casinos see their profits, revenue rise in 2011

The Nevada Gaming Control Board released its Nevada Gaming Abstract for 2011 today, which shows profits for Nevada casinos rose 16.4 percent. But for South Shore casinos, profits dropped 72 percent.

Read the report below:

TRPA and Placer County Sued Over Homewood

The Tahoe Regional Planning Agency received a notice of intent to file suit on the recent approval of the Homewood Mountain Resort Ski Area Master Plan project, officials said.
EarthJustice, on behalf of the Sierra Club and Friends of the West Shore, lists both TRPA and Placer County as defendants in the lawsuit filed Thursday in U.S. District Court of Eastern California. Absent from the suit is the League to Save Lake Tahoe, which implied that it likely wouldn't sue when the project was unanimously approved last month by the Tahoe Regional Planning Agency's Governing Board.

Many Nev. nonprofits lose tax status

CARSON CITY, Nev. - More than 2,300 Nevada nonprofit groups have had their tax exempt status revoked by the Internal Revenue Service.The revocations run the gamut, from the Edgewood Tahoe Mens Club...

Douglas Secret Witness among groups IRS says lost tax exempt status

Douglas County Secret Witness and the Lake Tahoe Arts Council were among 52 nonprofit groups who had their tax exempt status revoked by the Internal Revenue Service during 2011.Most of the revocati...

More Than 2,300 Nevada Nonprofits Lose Tax Exempt Status With IRS

CARSON CITY – More than 2,300 Nevada nonprofit groups have had their tax exempt status revoked by the Internal Revenue Service. The revocations run the gamut, from the Edgewood Tahoe Mens Club to the Lovelock Alfalfa Seed Growers. Most of the revocations occurred in 2010 but were just posted by the agency last year.

Ruling clears way for CalPERS fraud suit

The judge on Friday approved a petition from Villalobos and three companies he controls to pay about $17 million to dozens of creditors, including lawyers, accountants, banks, the Internal Revenue Ser...

Kyburz post office threatened with closure, cuts to service

A sign on the Kyburz Lodge reads "Welcome to Kyburz. Now leaving Kyburz," a reference to the blink-and-you-miss-it community along Highway 50 halfway between the South Shore and Placerville.
But the mountain hamlet is actually home to 110 people and the community is fighting to save its 150-year-old post office, located in the lodge.

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