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- 💧 Las Vegas Water Quality Report Confirms Safety and Rigorous Monitoring
💧 Las Vegas Water Quality Report Confirms Safety and Rigorous Monitoring
Issue #198 - June 22, 2024
John Wu
22 Jun
Dear SummerSouth Insiders!
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📆 Weekly Local Events for June 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Terrific Tuesday Fun Pickleball @ Police Memorial, Bring a Chair: (Every week on Tuesday @ 2PM)
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Live Music Yoga w/ Cheryl Slader @ Blue Sky Yoga: (Suggested Donation $12); 5:30 - 6:45 PM (Every week on Wednesday)
Country Crossroads Dance, Rhythms Dance Studio & Event Center, 4545 W Sahara Ave, Las Vegas: $15 Drop-in Rate / $50 for the whole month: 8 - 9 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
🌤 Summerlin South, Las Vegas 10-Day Weather Forecast
⛽ Las Vegas Gas Prices
💧 Las Vegas Water Quality Report Confirms Safety and Rigorous Monitoring
The Las Vegas Valley Water District (LVVWD) has confirmed that the water drawn from Lake Mead and local groundwater remains safe and rigorously monitored. The announcement comes from the district's annual water quality report, which reassures residents of Las Vegas and unincorporated Clark County about the safety and quality of their drinking water.
Comprehensive Monitoring and Testing
Each year, the LVVWD tests the water supply for 91 contaminants as mandated by the Environmental Protection Agency (EPA) and monitors for over 75 additional unregulated contaminants. This rigorous testing ensures that the water meets all federal and state safety standards. Key findings from the report include:
Contaminants Below Limits: Tests for chemicals such as arsenic, fluoride, and lead showed levels below federal and state limits.
Emerging Contaminants: Although PFAS (per- and polyfluoroalkyl substances), known as “forever chemicals,” were not listed in the report, Southern Nevada water managers regularly test for these contaminants and report no cause for alarm.
Extensive Testing Procedures
The water district conducted 320,000 analyses on more than 55,000 water samples taken from Lake Mead and other storage reservoirs. Lake Mead, which is fed by the Colorado River, supplies about 90 percent of Las Vegas' water.
John Entsminger, the General Manager of the LVVWD, emphasized the district's commitment to providing safe, high-quality water. “Our infrastructure along with sustained conservation enable us to serve high-quality water safely and reliably to our community and our customers under any scenario,” Entsminger wrote in the report.
Hard Water in Las Vegas
While the report confirms the safety of the water, it acknowledges that Las Vegas’ water is classified as “hard,” meaning it contains high levels of calcium and magnesium from the Colorado River. Hard water can have some minor effects:
Piping and Appliances: Can be tough on plumbing and appliances.
Skin and Taste: May dry out skin and affect the taste of tap water.
However, the hardness of the water does not pose a health risk and meets all water-quality standards. “It poses no health risk and meets all water-quality standards,” the water district stated.
Additional Information
For detailed water quality results for Las Vegas and other areas served by the district, including Searchlight, Jean, and Kyle Canyon, residents can visit the LVVWD website.
🏀 Las Vegas Aces Top WNBA Franchise Valuation at $140 Million
The Las Vegas Aces have been recognized as the most valuable franchise in the WNBA, with a valuation of $140 million, according to a list compiled by the digital media platform Sportico. This valuation significantly exceeds the league average of $97 million.
Top Five Most Valuable WNBA Teams
Las Vegas Aces: $140 million
Seattle Storm: $135 million
New York Liberty: $130 million
Phoenix Mercury: $105 million
Chicago Sky: $95 million
The Atlanta Dream were listed as the least valuable franchise, valued at $55 million.
Growth and Investment
The Aces' value has surged since relocating to Las Vegas in 2018. The team's growth accelerated after Raiders owner Mark Davis purchased the team from MGM Resorts International in 2021. Although the financial terms of the purchase were not disclosed, Davis has made significant investments in the team since taking over.
In 2023, the Aces opened a 64,000-square-foot facility adjacent to the Raiders’ Henderson headquarters. This state-of-the-art facility includes two full courts, a weight room, a player lounge, and a family room, marking the first practice facility built specifically for a WNBA team in league history.
Fan Engagement and Success
The Aces' success on the court has driven substantial fan interest. They made history by becoming the first WNBA team to sell out their season-ticket allotment this year. Additionally, retired NFL quarterback Tom Brady purchased a minority stake in the Aces last year for an undisclosed amount, further boosting the team's profile.
Valuation Methodology
Sportico's valuation involved interviews with more than 30 individuals over six weeks, including bankers, owners, and team executives. Anonymity was granted to some participants to compile the comprehensive list.
💹 Ontrak Ex-CEO Faces Up to 65 Years in Prison for Insider Trading
Terren Scott Peizer, the former chairman and CEO of Henderson-based Ontrak Inc., has been convicted of insider trading in a landmark case, marking the first prosecution exclusively based on the misuse of Rule 10b5-1 trading plans. Peizer, 64, a resident of Puerto Rico and Santa Monica, California, was found guilty on Friday of one count of securities fraud and two counts of insider trading.
Details of the Case
Peizer's conviction follows allegations that he set up Rule 10b5-1 trading plans to sell shares of Ontrak Inc. before significant negative news about the company became public, thereby concealing his insider trading activities. Rule 10b5-1 plans are designed to allow company insiders to trade shares in a pre-scheduled manner, providing a defense against insider trading accusations if used in good faith.
Principal Deputy Assistant Attorney General Nicole Argentieri, head of the Justice Department’s Criminal Division, stated, “When Terren Peizer learned significant negative news about Ontrak, he set up Rule 10b5-1 trading plans to sell shares before the news became public and to conceal that he was trading on inside information. This is the Justice Department’s first insider trading prosecution based exclusively on the use of a trading plan, but it will not be our last. We will not let corporate executives who trade on inside information hide behind trading plans they established in bad faith.”
Sentencing and Potential Penalties
Peizer is scheduled to be sentenced by U.S. District Judge Dale Fischer on October 21. He faces a maximum penalty of 25 years in prison for the securities fraud count and up to 20 years in prison for each of the insider trading counts.
About Ontrak Inc.
Ontrak Inc. operates as an artificial intelligence-powered, telehealth-enabled, and virtualized healthcare company, offering in-person services to third-party payors in the United States. The company's technology-enabled platform predicts chronic disease improvement through behavior change, recommends effective care pathways, and engages individuals to guide them through the necessary care.
Implications of the Verdict
The conviction of Peizer sets a significant precedent in the enforcement of securities laws, particularly regarding the use of Rule 10b5-1 trading plans. The Justice Department's focus on ensuring that these plans are not used in bad faith sends a clear message to corporate executives about the importance of ethical trading practices.
The operator of Henderson’s M Resort, Penn Entertainment Inc., is under scrutiny from the investment community after The Donerail Group's Managing Partner, Will Wyatt, urged the board of directors to consider selling all or part of the company. Las Vegas-based Boyd Gaming Corp. has emerged as a potential suitor.
Investor's Criticism and Concerns
In a six-page letter dated May 31, Wyatt addressed Penn’s board chairman, David Handler, highlighting the company's poor stock performance and criticizing CEO Jay Snowden's strategy to lead the market in sports wagering nationwide.
“At the core of our investment thesis, we believe that the company’s current stock price is significantly below the intrinsic value of the company and that Penn’s suite of highly strategic casino assets alone could be worth more than double the company’s current market capitalization,” Wyatt stated.
Wyatt further criticized Penn’s unsuccessful attempts to dominate the online sports betting market, despite substantial investments, and the company's repeated misses in financial guidance. He emphasized that the management's continued investment in underperforming interactive projects has damaged the company's credibility.
M Resort and Penn's Investment
Penn Entertainment operates three properties in Nevada, including the M Resort. The company is investing $206 million to build a 384-room tower, increasing the resort’s capacity to 774 rooms and adding more convention space. The project is expected to be completed by mid-2025. The M Resort also serves as the official team headquarters hotel for the Las Vegas Raiders.
Failed Sports Betting Strategy
Wyatt's letter criticized Snowden's focus on online sports betting, which included a problematic partnership with Barstool Sports. Penn initially invested $163 million to acquire a 36% stake in Barstool, later purchasing the remaining shares for $388 million. However, Penn eventually abandoned Barstool, selling it back to founder David Portnoy for $1.
Penn's recent pivot to a partnership with ESPN Bet has yet to yield significant returns.
Stock Performance and Board Changes
Penn's stock has been trading at its lowest levels since early 2017, excluding a brief period at the onset of COVID-19. Wyatt accused the board of being reckless with shareholder capital, comparing their strategy to "riverboat gamblers" who continue to double down after each loss.
However, Penn shares saw a 1.2 percent increase following Boyd Gaming’s announcement on June 10 that Michael Hartmeier was appointed to its board of directors. Hartmeier, a seasoned investment banker with extensive experience in gaming, is speculated to guide Boyd in potentially purchasing parts of Penn’s portfolio.
🤠 Las Vegas to Host National Finals Rodeo Until 2035
The National Finals Rodeo (NFR), the most lucrative event in rodeo, will continue to call Las Vegas home through 2035. The Professional Rodeo Cowboys Association (PRCA) and Las Vegas Events announced the contract extension on Monday, detailing an agreement that promises significant financial benefits for rodeo contestants and stock contractors.
Financial Details of the Extension
The new contract ensures that by the end of the 12-year extension, purse and contract money will exceed $264.3 million. Las Vegas Events sweetened the deal with an additional $1.3 million in contestant purse and stock contractor compensation for 2024 and 2025 as a signing bonus to the PRCA.
2024 Prize Money: $12,501,505 for contestants and $3,750,451 for stock contractors, totaling over $16.2 million.
2025 Prize Money: $13,501,505 for contestants and $4,050,451 for stock contractors, totaling over $17.5 million.
Annual Increase: From 2026 to 2035, the contestant purse and compensation to stock contractors will increase by $1 million each year.
By 2035, the total annual payout to contestants and stock contractors will surpass $27.5 million.
Venue and Economic Impact
The NFR has consistently sold out at the Thomas & Mack Center on the UNLV campus, with 359 consecutive sold-out performances. The event attracts approximately 340,000 visitors to Las Vegas each year, generating a $200 million economic impact, according to the Las Vegas Convention and Visitors Authority (LVCVA), which pays the PRCA $3 million annually to sponsor the NFR.
While the current contract includes a clause allowing for the consideration of other venues, such as the proposed Athletics stadium, no decisions have been made regarding a move. Discussions with A’s management about using the new stadium, which would offer a larger capacity than the Thomas & Mack Center, are ongoing.
Marketing and Sponsorship
The agreement includes extensive marketing programs and official sponsorships, designating the PRCA, NFR, National Finals Steer Roping, and NFR Open as official sponsors. Additionally, it includes presenting sponsorships for the 12 National Circuit Finals Rodeos.
Leadership and Commitment
PRCA CEO Tom Glause expressed confidence in the agreement, highlighting its benefits for all PRCA members and its potential to advance the sport. Bill McBeath, chairman of the Las Vegas Events board of trustees, emphasized the long-standing partnership between Las Vegas and the PRCA, expressing satisfaction with the new agreement's benefits for all parties involved.
Tim Keener, president of Las Vegas Events, thanked the negotiating parties and reiterated the goal of making the NFR a December tradition in Las Vegas.
Summerlin Area Command - Week Ending: June 14, 2024
Courtesy of The Las Vegas Metropolitan Police Department.
📌🏠 Summerlin South - May 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
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Until next time, John Wu.