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Gov. Sandoval unveils budget with $1.1 billion tax increase

CARSON CITY, Nev. -- Gov. Brian Sandoval has unveiled a budget that would raise taxes by $1.1 billion and give the majority of that back to Nevada schools.

"My budget will make sure students are college ready by graduation," Gov. Sandoval said.

The proposal unveiled Thursday evening in Sandoval's State of the State address calls for restructuring the flat, $200-a-year business license fee into a fee that varies based on a company's gross receipts and industry type. It also calls for making temporary "sunset" taxes permanent.

UPDATE: Stay order could be issued in Caesars bankruptcy

LAS VEGAS  --  A U.S. Bankruptcy Court judge said he will issue a modified stay order that would prevent Caesars Entertainment Corporation from moving ahead with its bankruptcy, according to a story in Reuters.

A subsidiary of casino giant filed for Chapter 11 bankruptcy protection in Chicago on Wednesday in an effort to shed more than half of its $18.4 billion debt burden.

Caesars' has been negotiating with creditors and lenders for months on a reorganization plan that would turn the division into a real estate investment trust -- one to own properties and the other to lease properties -- promising creditors cash or new debt.

The division, Caesars Entertainment Operating Co., owns and operates most of Caesars' 50 properties worldwide and the company has said it intends to keep the casino-hotels running, despite the bankruptcy filing.

Wet weather drives up valley wrecks to near 300

LAS VEGAS -- When it rains in Las Vegas, you can bet there will be numerous car crashes. Nevada Highway Patrol and Metro responded to nearly 300 wrecks on Sunday.

Caesars readies unit for bankruptcy as early as next week

LAS VEGAS (AP) -- Casino giant Caesars Entertainment Corp. says a pre-packaged bankruptcy plan for its operating division has the blessing of the majority of its first-lien bondholders.

The company said Friday in financial filings that the holders of more than 60 percent of the operating division's debt OK'd a restructuring agreement clearing the way for the company's division to take its plan to bankruptcy court as early as Jan. 15 but no later than Jan. 20.

Caesars has been negotiating with lenders and bondholders for months coordinating a strategy to turn its debt-heavy operating division into a real estate investment trust with one segment owning the casinos and another leasing them.

Caesars needed the holders of at least 60 percent of the debt to OK the plan before the agreement took effect.

Goodman shares 2015 plans for Las Vegas

LAS VEGAS -- Las Vegas Mayor Carolyn Goodman delivered the annual State of the City Address Thursday evening. The speech detailed the mayor's vision for Las Vegas in 2015.

The year 2014 saw a lot of accomplishments for Las Vegas. The F Street underpass opened to the historic Westside near downtown, and there was a record number of tourists who visited the downtown area.

Even with those major accomplishments, the Mayor said there's still more that needs to be done.

"We need to create new intrigues and new reasons to entice tourists to come here. We have to do this because simultaneously, every other state in this country, those with and without gambling are competing vigorously to capture the same tourists that we seek, along with the same businesses, conventioneers, and investors that we want,” said Mayor Carolyn Goodman, City of Las Vegas.

Man struck in hit-and-run at Venetian parking garage

LAS VEGAS — A man was struck by a car, which then took off, in the parking garage of the Venetian on Monday afternoon.

Police say an employee reported the incident around 12:30 p.m. after seeing a man unable to get up after he was hit by a car.

No other details about the crash were available, including a description of the car police might be looking for.

Sports books could see record year

LAS VEGAS -- Many recovered from their New Year's Eve parties by watching bowl games on the first day of 2015.

Las Vegas not only counts on the revelers taking to the streets to welcome the new year, it also banks on the money spent on sports betting the next day.

Sports books are on a record pace and the college football championship may be the reason.

"This country loves football, they love betting football," said Jay Kornegay,  vice president of sports and race operations at Westgate SuperBook.

Historically, New Year's Day is a big day for sports books.