IN THE NEWS
1. Teslas slowly move through Elon Musk’s new Boring Company tunnel under Las Vegas.
Elon Musk’s tunnelling firm, The Boring Company, invited members of the media to check out the 3km-long loop that runs beneath the Las Vegas Convention Centre ahead of its debut in June. And clips from the event show that the underground transportation network functions essentially as the billionaire described: “basically just Teslas in tunnels at this point.”
Despite Musk’s claim that the loop is “way more profound than it sounds,” the system may not live up to all the hype.
It is meant to shuttle up to 4,400 passengers per hour, but documents obtained by TechCrunch in October show that the $52.5 million loop may only be able to accommodate 1,200 people due to fire regulations. And although The Boring Company has said it plans to service its tunnels with self-driving, high-capacity Tesla vehicles, the LVCC Loop is starting out with normal Teslas that require drivers.
Read more >>> http://www.businessinsider.com.au/elon-musk-boring-company-las-vegas-loop-tunnel-first-look-2021-4?r=US&IR=T
2. Packer’s firm reaches agreement with NSW ILGA separating them from Crown
The NSW Independent Liquor & Gaming Authority (ILGA) says it has reached an agreement with Consolidated Press Holdings (CPH), the private investment firm of James Packer, aimed at ensuring the Australian billionaire stays distanced from the business affairs of Crown Resorts.
The ILGA Chair Philip Crawford recently told Inside Asian Gaming that Crown was on track to reach suitability in the coming months.
“I would have thought the second half of this year at some stage is a realistic prospect as long as they can get their structures in place,” he said.
3. Tropicana Sold for $308 Million on the Las Vegas Strip
Rhode Island-based Bally’s Corp. agreed to purchase the Tropicana in a deal valued at $308 million from landlord Gaming & Leisure Properties Inc.
Gaming & Leisure Properties Inc. plans to keep the land and lease it to Bally’s for 50 years at $10.5 million in annual rent, while Bally’s agreed to spend $150 million to operate the Tropicana.
Read more >>> Tropicana sold for $308 million on the Las Vegas Strip – Eater Vegas
