A group of Chinese investors are alleging The SLS Las Vegas hasn’t turned a profit since opening in 2014 and is on the verge of bankruptcy, according to a lawsuit filed in Los Angeles County this week.
The Texas Teachers' Retirement Fund was a big investor in the Station Casinos buyout. The fund wanted to boost its returns. The Fertitta Brothers, who now own a majority of the company, were also donors to Governor Rick Perry's campaign. And the governor appointed the board that changed the teachers investment strategy to more aggressive investment in real estate and bonds. We talk with the reporter who investigated how TTRF lost its entire $99 million investment.
The Nevada Cancer Institute was conceived in the boom time of the Las Vegas economy and it was certainly an ambitious plan: build a nationally-recognized research and treatment facility in Las Vegas. That dream crashed, the institute says, because of lower medical reimbursements, rising costs, fewer charitable donations and increased competition. So was this bad luck or too much ambition? What will the future of Nevada Cancer Institute be under the University of California, San Diego?