Las Vegas business briefs

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* FACE-IDENTIFICATION ATMs DEVELOPED BY WELLS FARGO PARTNERSHIP FOR CASINOS -- Wel1s Fargo Bank and Mr. Payroll Corp. are creating a Las Vegas-based joint venture to sell a new generation of financial services vending machines for casinos. The joint venture, InnoVisions Inc., will include 200 ATMs Wells Fargo now operates in casinos through its Cash Center subsidiary. And a new financial services vending machine, called Quest, will initially be tested in up to 10 Nevada casinos. Quest will integrate various cash sources into a single device -- casinos now use ATMs, point of sale devices and check cashing windows. Quest can do financial transactions without a picture I.D., ATM card or credit card. Customers' identities will be verified using TrueFace Engine, a patented face recognition system. Mr. Payroll Corp. said it introduced the world's first self-service check cashing machine in June 1997.

* SIERRA PROFIT, REVENUE UP -- Sierra Health Services Inc. of Las Vegas today said its profit for the quarter ended March 31 was $12.2 million, or 66 cents per share, up 25 percent from the $9.8 million, or 54 cents earned in the year-earlier quarter. Revenues increased 23 percent to $210 million. Sierra also announced a three-for-two stock split aimed at improving liquidity of the stock.

* OCEAN SPRAY TRIES BOOSTING ITS FLAT SALES -- Hoping to boost flat sales of $1.43 billion, Ocean Spray Cranberries Inc. has introduced a premium line of 100 percent juices under the Wellfleet Farms label. "Sales of 100 percent juice blends have reached $100 million annually, clearly demonstrating consumers want this choice in juices," said Ocean Spray Chief Executive Officer Tom Bullock as he unveiled the new line at a Chicago trade show. Ocean Spray has a Henderson plant.

* L.V. BUILDER'S PROFIT FALLS -- Saxton Inc. of Las Vegas today reported a quarterly profit of $1.2 million, down from $1.8 million in the year-ago quarter as revenue of $12.7 million fell from $16.5 million. Saxton said sales fell because its single-family home developments sold out quicker than anticipated, leaving it without inventory to sell; and to delays in permitting.

* AMERICAN NEVADA CEO RESIGNS -- Eric A. "Tony" Traub has resigned as president and chief executive officer of American Nevada Corp., one of the largest residential and commercial developers in the Las Vegas Valley. Traub will pursue new opportunities in the development industry, American Nevada said Monday. "I was hired to guide the overall direction of American Nevada's growth into a larger and more diverse organization and complete Green Valley. That goal has been accomplished and today the company is flourishing," Traub said in an American Nevada news release. Brian Greenspun, chief executive of the Greenspun Corp., parent company of American Nevada and the Las Vegas Sun, praised Traub's contributions and said American Nevada looks forward to maintaining a professional relationship with him in the future. Greenspun said Phillip Peckman, chief operating officer of Greenspun Corp., was named interim president of American Nevada. Brad Nelson will continue as chief operating officer of the community division and Alan Perlmutter continues as chief operating officer of the commercial division.

* GAMING PATENT ISSUED -- Best Bet Products Inc. of Las Vegas said it received a patent for slot machines aimed at prompting gamblers to increase their bets. It allows players to increase their wagers after the reels have begun spinning, and after at least one reel has stopped spinning and is showing a symbol in the pay line position.

* NEW TOYOTA LOCATION -- Cross-Continent Auto Retailers Inc. of Amarillo, Texas, announced the relocation and grand opening of Toyota West in Las Vegas at 6300 W. Sahara Ave. Cross-Continent has six retail stores in Las Vegas selling eight brands. The new Toyota West has a 14,000-square-foot showroom, a 42,000-square-foot service center and a 5,600-square-foot parts department.

To contact SUN Business Editor Steve Green, call 259-4083 or e-mail [email protected]

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