Connect with us

Nevada

Billionaire media mogul officially receives Nevada gaming license

Published

on

Billionaire media mogul officially receives Nevada gaming license


The Nevada Gaming Commission on Thursday approved the licensing of media mogul Barry Diller as a director for the MGM Resorts International board of directors.

In a 4-1 vote — the first for new member Abbi Silver — commissioners agreed to license Diller without restrictions after approving a limited two-year license for him in May 2022.

Two years ago, Diller was recommended for approval by the Nevada Gaming Control Board, but between the time of the Control Board recommendation and final commission approval, the Securities and Exchange Commission announced an investigation into insider trading allegations against Diller, his stepson-in-law Alexander von Furstenberg and film studio executive and producer David Geffen.

Diller, appearing at Thursday’s meeting online from New York, said the timing of the purchase of stock in videogame company Activision Blizzard, which later was taken over by Microsoft Corp., was coincidental. He said he, von Furstenberg and Geffen considered Activision to be an undervalued company worthy of their investment.

Advertisement

Diller and his attorneys told the commission there has been no further contact from the SEC and the U.S. Justice Department about an investigation into the stock trades.

“This matter has reached the end of the map,” one of Diller’s attorneys told commissioners.

Commissioner Rosa Solis-Rainey cast the one vote against Diller’s licensing and she said during the 15-minute hearing that while she had no misgivings about Diller’s character and suitability, she preferred a conditional licensing since the SEC left the possibility of a future investigation open.

The SEC’s email to Diller’s lawyer that Diller authorized be made public says, “must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff’s investigation.”

Diller is the chairman and senior executive of IAC, a holding company that owns brands across 100 countries, mostly in media and internet, and chairman and senior executive of Expedia Group. He is a former chairman and chief executive officer of several companies, including Fox and Paramount Pictures Corp. Diller also serves on the board of The Coca-Cola Company.

Advertisement

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.





Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nevada

Rockies snowpack season for Colorado River basin off to rocky start

Published

on

Rockies snowpack season for Colorado River basin off to rocky start


It’s too early to make sweeping assessments of this year’s snowpack, but some signs point to a remarkably average year in the Rocky Mountains, where snow turns to water and flows down the Colorado River into ever-shrinking reservoirs.

Las Vegas residents make up a portion of the 40 million people who rely on yearly flows from the river to drink, bathe, water crops or lawns, and more. Southern Nevada sources about 90 percent of its water from Lake Mead — part of a fickle river system that’s becoming drier every year and would need several consecutive, above-average years of snow to recover.

“Even if we have a great snowpack year, the trends are that water supply is declining,” said Abby Burk, senior manager of The Audubon Society’s Western Rivers Program, who is based in Colorado. “We are burning through an increasingly shortened timeline by playing a zero-sum game.”

As of Thursday, the entirety of the Upper Colorado River Basin sat at 95 percent of a historical median, according to the U.S. Department of Agriculture’s Natural Resources Conservation Service.

Advertisement

That’s not necessarily the start to the banner year that Las Vegas’ water managers were hoping for, though high snow numbers don’t always translate to elevated runoff levels, said Bronson Mack, a spokesman for the Southern Nevada Water Authority.

Hydrologists said last year was average, but 2022 and 2023 were widely regarded as stabilizing years for the Colorado River system, bringing Lake Mead up from its all-time low level reached in July 2022.

“The twenty-first century has taught us to not count our water — or snow — before it is in the reservoirs,” Mack said in a statement. “Good snowpack years have been foiled by poor runoff and bad snowpack years have been saved by late-spring storms.”

Rural, Northern Nevada in good shape so far

Snowpack numbers are most promising in the rest of Nevada, where cities like Reno depend on recharge to the Truckee River.

Advertisement

With the exception of the Spring Mountains in Southern Nevada, all of the state’s basins that fuel rivers other than the Colorado were above 100 percent of the median as of Thursday.

Hints of snow in the Spring Mountains, which melts into runoff for Southern Nevada’s underground aquifers, are just beginning to show, with only 2 percent of the median.

“As you move north, things improve fairly quickly,” said Baker Perry, Nevada’s state climatologist and professor at the University of Nevada, Reno. “Northern Nevada is in pretty good shape from a snowpack standpoint: The numbers are generally well above the median.”

In much of rural Nevada, residents are dependent on groundwater wells rather than municipal water systems. Consistently poor snowpack and dry soil conditions could some day force well users to drill deeper to reach aquifers that become lower with less available water.

Climate change spells bad news

Advertisement

A plethora of factors may prevent snowmelt from arriving in the Colorado River’s reservoirs.

One of those is soil dryness, said Burk, of The Audubon Society.

“Soil takes the first drink before water arrives in a stream,” she said.

Almost 47 percent of the Colorado River basin was experiencing drought conditions as of Thursday, according to the National Integrated Drought Information System.

That dryness is felt in Las Vegas, as well, with five months in a row of no measurable precipitation — the second-longest such streak on record, as reported by the state climatologist office’s January drought update released on Thursday.

Advertisement

John Berggren, regional policy manager for nonprofit Western Resource Advocates, said other factors to keep in mind are how much precipitation falls as rain rather than snow and exactly when snowpack begins to turn into runoff.

Unfettered warming caused by climate change is causing snow to melt earlier, he said. That can cause vegetation to soak up water through evapotranspiration, the loss of water to evaporation from soil surfaces and transpiration from the leaves of plants.

“Because of climate change, snowpack numbers aren’t translating into the same stream flow numbers that we might have seen 10, 15, 20 or 30 years ago,” Berggren said.

Some years will see snowpack levels shrink early in the season, while other years start off slowly and bring snowstorms later on, he said.

“Fingers crossed for the latter, but we have to be prepared for the former,” Berggren said.

Advertisement

Contact Alan Halaly at ahalaly@reviewjournal.com. Follow @AlanHalaly on X.



Source link

Continue Reading

Nevada

Nevada fuel line will return to normal service

Published

on

Nevada fuel line will return to normal service


LAS VEGAS, Nev. (FOX5) – Clark County asks consumers to ”not panic buy at the pump.”

After messages from Clark County saying the fires in California were potentially affecting the fuel lines servicing Southern Nevada, the County is advising the public to not run out and buy gas for their cars.

The gas line from California to Nevada will re-start and be operational by Friday.

Message from Clark County:

Advertisement

“In working with California, a solution has been put in place which will power the Kinder Morgan fuel line into southern Nevada and fuel should start to flow into the valley in the next 12-24 hours. Clark County Office of Emergency Management remains engaged on this issue with regional and state partners. The public is encouraged to not panic buy at the pump.”

FOX5 will have a full report on the gas line running from California to Nevada at 10 and 11 p.m.



Source link

Advertisement
Continue Reading

Nevada

Missing Southfield girl might be in Nevada with man who just found out he’s her father, police say

Published

on

Missing Southfield girl might be in Nevada with man who just found out he’s her father, police say


SOUTHFIELD, Mich. – A 4-year-old Southfield girl who has been missing for two months might be in Nevada with a man who just found out he’s her father, police said.

Bali Packer was picked up by her biological father, Juwon Madison, on Nov. 10, 2024, and has not been returned to her mother, Timeah Wright-Smith.

Packer was last seen wearing a blue PJ mask shirt, pink hat, pink leggings, and pink boots.

Madison is not listed on Packer’s birth certificate, and no court order in place states he has any parenting time.

Advertisement

He recently discovered that he may have been the father of Packer prior to picking her up with her mother’s permission, who is the sole guardian of the 4-year-old girl.

Madison is believed to have left Michigan and went down to Nevada.

Wright-Smith does not believe Packer is in any danger.

Bali Packer Details
Eyes Brown
Age 4
Height 3′3″
Hair Brown
Weight 3 pounds

Anyone with information should contact the Southfield Police Department at 248-796-550 or Crime Stoppers at 1-800-Speak Up.

All tips to Crime Stoppers are anonymous. Click here to submit a tip online.

Advertisement

READ: More Missing in Michigan coverage

Copyright 2021 by WDIV ClickOnDetroit – All rights reserved.



Source link

Continue Reading

Trending