News Briefs | Week of Feb. 17
February 20, 2017
Caesars Entertainment Corp.
Caesars Entertainment Corp., parent company of Harrah's Reno, Harrah's Lake Tahoe and Harvey's Lake Tahoe, reported fourth quarter and full-year 2016 results.
The report says net revenues increased 2.8 percent to $3.9 billion driven by strength in Las Vegas due to favorable hold and improved hotel performance.
The net loss for Continuing CEC, before including the effect of non-controlling interest, was $2.7 billion due to $5.7 billion of accruals related to the restructuring of Caesars Entertainment Operating Company, Inc., partially offset by a gain of $4.2 billion on the sale of Caesars Interactive Entertainment's social and mobiles games business.
Fourth quarter net revenues increased 3 percent year-over-year to $949 million.
A net loss, before including the effect of noncontrolling interest, was $435 million compared to a net loss of $39 million in the fourth quarter of 2015 mainly due to a $426 million accrual from restructuring of CEOC.
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In January 2017, the U.S. Bankruptcy Court for the Northern District of Illinois approved CEOC's plan of reorganization, paving the way for a successful conclusion to CEOC's bankruptcy in 2017.
AMERCO, parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, reported net earnings for its third quarter ended Dec. 31, 2016, of $65.2 million, or $3.33 per share, compared with net earnings of $81.8 million, or $4.17 per share, for the same period last year.
For the nine-month period ended Dec. 31, 2016, net earnings available to shareholders were $388.9 million, or $19.85 per share, compared with net earnings of $436.4 million, or $22.27 per share, for the same period last year. Included in the results for the nine-month period ended Dec. 31, 2016, was an after tax benefit of $0.79 per share associated with our settlement of the PEI litigation that resulted in a reduction in operating expenses of $24.6 million. Excluding this after tax benefit, adjusted earnings were $19.06 per share for the nine-month period.
AMERCO also declared a special cash dividend on its common stock of $1 per share. The dividend will be payable March 9 to shareholders of record on Feb. 23.
Abacus Mining & Exploration Corp.
Abacus Mining & Exploration Corp., a mineral exploration and mine development company, has signed an option agreement with Almadex Minerals Limited and its wholly-owned Nevada subsidiary Almadex America Inc. to acquire the exclusive right and option to earn, in the aggregate, up to a 75 percent undivided ownership interest in the Willow Property located in Douglas County.
OCG Creative, a digital marketing agency, in Reno, has been ranked one of the Top 10 Local SEO Firms in the nation by Top SEO Rankers, a company that specializes in identifying the best local SEO firms in the country.
ElectraTherm, a Reno-based distributor of waste heat-to-power generation, commissioned six Power+ Generators in the United Kingdom in 2016, and has 10 machines scheduled for commissioning in the next three months. The Power+ generators utilize various forms of biomass, from woodchips to chicken, to generate emission-free electricity and increase onsite efficiency for increased revenue.
K. Sutherland PR
K. Sutherland PR, a boutique public relations, branding and social media agency, has been selected to create and execute comprehensive public relations strategies for the Reno law office of Fennemore Craig.
The Abbi Agency
The Abbi Agency, a Reno-based creative, digital and public relations firm, has been retained by Go Goleta, the destination marketing organization for California's Goleta Valley Chamber of Commerce.
The Abbi Agency will develop the digital strategy for the destination and launch a year-long performance-led digital media campaign for Go Goleta.
Shakespeare Animal Fund
Communications and creative professionals donated $1,585.95 from their December 2016 Mingle Bells event to Shakespeare Animal Fund in February 2017. The Shakespeare Animal Fund will use the donation to help families with veterinary bills for their hurt or sick pets in the event of a tragic emergency.
Mingle Bells is organized by AIGA, the professional association for design, American Marketing Association (AMA), Professional Saleswomen of Nevada (PSN), Public Relations Society of America (PRSA) and AAF.
City National Bank and Barnes & Noble recently delivered more than $30,000 in new books and cash to three schools and one nonprofit in Reno and Gardnerville. C.C. Meneley Elementary in Gardnerville, Echo Loder and Hidden Valley Elementary Schools in Reno, and Foster Youth Care in Reno received these donations as part of the 9th Annual Holiday Book Drive.
NAIOP Northern Nevada Chapter was awarded the 2017 Chapter Merit Award in the Special Event category for their NAIOPOLY event, presented at the recent Chapter Leadership & Legislative Retreat in Washington D.C.
NAIOPOLY entails a walkable game board with local developers obtaining property groups and showcasing their current and planned projects.
Please visit http://www.naiopnnv.com for more information or contact Randi Reed at 775-513-7052.
Atlantis Casino Resort Spa
Atlantis Casino Resort Spa has been recognized as Reno's top hotel by U.S. News & World Report in its annual Best Hotel Rankings program. Additionally, Atlantis' Concierge Tower has earned the award program's second highest mark, just behind the Atlantis property as a whole.
According to U.S. News & World Report, the seventh annual Best Hotels rankings evaluate more than 3,000 luxury properties across the United States, the Caribbean, Canada and Mexico. The methodology accounts for both expert and guest sentiment; in addition to industry accolades a hotel receives.
Renown Regional Medical Center
Renown Regional Medical Center has been accredited by the Intersocietal Accreditation Commission for cardiac electrophysiology.
Renown is just the fifth healthcare facility in the United States and the first and only hospital in Nevada to receive this recognition.
Dickson Realty, a real estate company with offices in Reno-Sparks and Lake Tahoe, has been awarded the Website Quality Certification (WQC) from Leading Real Estate Companies of the World, a global community of more than 550 independent real estate firms in over 60 countries.
The certification was presented in recognition of excellence in website design, content and functionality.
Dickson Realty's website, dicksonrealty.com, received high marks in a variety of critical areas relating to website performance, including usability, design, content, interactivity, customer service and mobile responsiveness.
The evaluation was conducted by Virtual Results, LLC, a real estate Internet and social marketing firm selected by Leading Real Estate Companies of the World to review the websites of participating members.
The NAIOP Northern Nevada Chapter will host its Developers Forum, Tuesday, Feb. 28 beginning at 7 a.m. at the Reno-Sparks Convention Center.
Cost is $40 for NAIOP members, $50 for non-members and $60 at the door. To register or for details, go online at https://www.eventbrite.com/e/2017-developers-forum-tickets-31756499545. For more information on NAIOP, go online at: http://naiopnnv.com.
Journalist Brad Inman of Inman News spoke to Chase International real estate associates and staff at their bi-annual company meeting on the importance of transaction compression — simplifying and speeding up the buying experience in today's on-demand world. He also spoke about the importance of being connected.
Inman stressed the need to take advantage of technology, while not losing sight of the human element, to the 200 Realtors in attendance. The meeting follows suit with Chase's dedication to leading the market with new technologies, trends and a heart-centered approach.
Franktown Meadows Hunter Derby
The Franktown Meadows Hunter Derby was nominated by the National Show Hunter Hall of Fame to the "Hunter Derby of the Year" category. Water & Rail will present the award on June 24 and 25.
Interim HealthCare Personal Care and Support Services is holding a hiring event Wednesday Feb. 22, from 10 a.m. to 1 p.m. at the Carson City JobConnect at 1929 N. Carson St.
There will also be on-site interviews for several part-time personal care attendant positions. Pay is $10 an hour. Minimum requirements for the position are at least 1 year of caregiving experience and a GED or diploma. Prospective hires should bring I-9 documents.
Northern Nevada Development Authority will host a breakfast event Wednesday, Feb. 22, from 7 a.m. to 8:30 a.m. at the Carson Nugget Hotel & Casino in Carson City. They will discuss the Career and Technical Education and STEM programs in the Sierra Region.
Speakers include Michele Lewis, CTE administrator; Teri White, Douglas County superintendent; Wayne Workman, Lyon County superintendent; and Todd Hess, Storey County superintendent. Tickets are $35 each and can be bought at https://www.eventbrite.com/e/february-breakfast-cte-month-tickets-31947205953.