Las Vegas

Boring breaks ground in Las Vegas with its first paying customer

In this image, Elon Musk stands and holds a microphone in front of a tunnel opening.
Elon Musk speaks at an unveiling event for the Boring Company test tunnel on Dec. 18, 2018 in Hawthorne, Calif. Photo: Robyn Beck-Pool/Getty Images

Las Vegas has awarded a $48.7 million contract to Elon Musk's Boring Company to build a high-speed autonomous shuttle underneath the city's remodeled convention center, per multiple reports.

Why it matters: Sin City is the first paying customer for Musk's hyperloop idea, which was "joke-tweeted" into existence two and a half years ago, Wired magazine writes. The transit system would shorten what would be a 15-minute walk to a one-minute ride.

Wynn Resorts casino deal gets axed after details leak

ustralian gambling giant Crown Resorts logo
Australian gambling giant Crown Resorts logo. Photo: William West/AFP/Getty Images

Wynn Resorts offered to buy Australian casino operator Crown Resorts for $7.1 billion, or $14.75 per share (26% premium to yesterday's closing price). Then, within the past hour, it said it was terminating talks because deal details leaked.

Why it matters: Wynn Resorts has been on the ropes since last year's ouster of founder Steve Wynn over sexual assault allegations, and buying Crown could help it become too large to digest for acquisitive Las Vegas rivals. Plus, it reflects a weakening gaming market in Macau, which is currently Wynn's only Asia location.