City Scoop: Las Vegas
Total Picture
Total Picture Non-Building Sector Showing Weakness, but Residential Continues to Drive Area's Surge Thanks to strength in residential, the Las Vegas market will see construction starts rise for the fourth straight year.
Firms in Focus | PENTA Building Group, 181 E. Warm Springs Rd., Las Vegas
COO: John Cannito
Employees: 130
Founded: 2000
A new jewel: With six months to go, PENTA is in the final push on the new SLS Las Vegas. The $415-million project is transforming the Sahara Hotel & Casino into a new luxury Vegas destination.
City Grill
Neil Opfer Assistant Professor
UNLV "Compared to past performance, we're still very down from where we have been," Opfer says. "But we're starting to see the market—in a couple of segments—come back." Las Vegas has also been hurt by the downturn in gaming, he adds, and while the city hasn't gotten back to 2007 gaming revenue levels, the market is recovering and visitor levels remain healthy. One trend that has slowly changed over the past few decades is an increased emphasis on revenue streams other than gaming. "Now you're seeing much more emphasis on retail," Opfer says.