Opening remarks
The best poll is about to occur.
For the past several months, there have been countless polls doing their best to predict the outcome of this year's election. Well now the time has come for the last, most definitive poll: election night. We'll see just how "purple" Nevadans are feeling this election, as there are some predictions we will elect a split ticket, a growing possibility as the active Non-partisan registered voter share is now, albeit narrowly, larger than registered Republicans in the state.
As I've said last week, this will be an unprecedented, unpredictable election. We expect some races to be called election night, but the general mantra of the firm is "election night is not results night." Remember, the polls don't close until the last voter standing in line (given they reached their polling place before the 7 p.m. cutoff) casts their ballot. That line could take hours. In addition, all mail ballots postmarked by November 8 will need to be counted, and that could take several days.
Regardless of when the official general election results are posted (which you can find links to on our 2022 Election page), Tom Clark Solutions will keep you updated of all results and decisions.
Important Dates
| General Early Voting | October 22 – November 4 |
| General Election | Tuesday November 8, 2022 |
until the General Election.
ICYMI
Reno City Council appoints Miguel Martinez to open Ward 3 seat
The sleeper county that could decide the Senate (Spoiler: It’s Washoe County.)
Washoe County interim registrar reflects on the state of election officials as Election Day approaches
Fed approves 0.75-point hike to take rates to highest since 2008
ECONOMY
Up to 40 cannabis consumption lounges coming to Nevada
This week, the Cannabis Compliance Board (CCB) announced it received 100 completed state licensing applications during the 10-day application window earlier this month.
The CCB will issue two types of cannabis consumption lounge licenses: retail (attached/immediately adjacent to a cannabis-retail store) and independent. Upon receiving final inspection, licensure, and approval by the Board, retail cannabis consumption lounges
may open.
Per state law, the CCB may issue 20 independent cannabis consumption lounge licenses, half of which are designated for social equity applicants. The CCB anticipates conducting two drawings via a random number selector in early December to determine the issuance of independent cannabis consumption lounge licenses for non-social equity and social equity applicants.
The first lounges are anticipated to be open early 2023.
EDUCATION
About one-third of federal COVID relief funds for Clark County schools spent or committed
The Clark County School District is about a third of the way through spending or committing its nearly $778 million in federal pandemic relief assistance.
During a board meeting last Thursday, district officials presented an annual report on use of the American Rescue Plan Elementary and Secondary School Emergency Relief Act (ARP ESSER III) funding it was awarded last year.
The Clark County School District is further along in spending its ESSER III funding than the Washoe County School District, the state’s second-largest school district, according to data collected by Edunomics, an education finance group at Georgetown University. But other smaller Nevada school districts such as ones in Elko, Lander and Storey counties, which received less ESSER III funds than Clark, have already spent more than half of their money.
GAMING
Wynn shares jump after Golden Nugget owner Tilman Fertitta buys a 6.1 percent stake
Texas billionaire Tilman Fertitta, who owns the Golden Nugget casinos, is now the second-largest individual shareholder in Wynn Resorts after acquiring more than 6.9 million shares.
According to a filing Monday with the Securities and Exchange Commission, Fertitta purchased the 6.1 percent stake in Wynn on Oct. 19. Wynn’s stock rose more than 11 percent Monday morning on the Nasdaq following news of the stock acquisition and closed at $63.90, up 9.61 percent.
Boyd expands nationally; Red Rock focused on Southern Nevada
The Nevada Independent provides an interesting overview and the contrast of Boyd and Red Rock expansion strategies. For Boyd Gaming, if Boyd Gaming has designs on expanding its Las Vegas footprint, CEO Keith Smith is keeping it quiet. Recently, Smith was asked “Are you looking for me to slip up and give you a scoop?” to which Smith responded, “[w]hen we have something to talk about, I’ll tell you.”
As to Red Rock, the approach is different for Red Rock Resorts. The company, Boyd’s largest competitor in the neighborhood casino market, has visions of doubling its footprint in the Las Vegas Valley by 2030. Red Rock, the corporate parent of operator Station Casinos, owns 630 acres of developable land across Southern Nevada.
For now, the under-construction $750 million Durango Station in southwestern Las Vegas, near the 215 Beltway, is the focus. It’s scheduled to open late next year. But Red Rock CFO Stephen Cootey told analysts on the company’s third-quarter conference call last week that sites in the Henderson community of Inspirada and Sky Canyon in northwest Las Vegas are moving “through the planning entitlement and zoning processes."
HEALTHCARE
Open Enrollment period begins for Nevada Health Link
The open enrollment period began Tuesday for Nevada Health Link. Those who don’t qualify for Medicare or Medicaid can sign up for coverage through the Silver State Exchange.
Open Enrollment runs from November 1, 2022 to January 15, 2023. Learn more about Open Enrollment here.
HOUSING
Governor Sisolak, Nevada Housing Division announce first round of funding awardees for $500 million Home Means Nevada initiative
Last week, Governor Sisolak and the Nevada Housing Division announced an initial set of funding awards for the $500 million Home Means Nevada initiative. Funded by American Rescue Plan dollars, this initiative will create lasting and generational change for Nevadans. Today’s awards total $155.7 million in funding, representing about one-third of the initiative.
The initiative includes four categories of funds that will be administered by the division – Multi-family Development, Multi-family Preservation, Land Acquisition and Home Ownership: New Development/Rehabilitation. The full list of the initial awards can be found at the link above.
Reno-Sparks median home prices fall as inventory, interest rates rise
The Northern Nevada housing market has finally slowed down; the Reno-Sparks area is seeing higher inventory and lower median home prices, which means buyers have a little more room to breathe. The median home price in Reno is $535,000 as of September 2022, down from $615,000 in May.
There are currently more than 1,300 listings on the market which is nearly double compared to near-record lows earlier in the year. Importantly, industry experts say the one thing buyers are going to want to look out for this year is higher borrowing costs as the Federal Reserve continues to implement interest rate hikes.
What we’re doing this Interim
The 2021 Nevada Legislature passed Assembly Bill 443, Legislation that fundamentally changed the way the Legislature operates between Sessions. The newly formed Interim Standing Committees have begun meeting, hearing overviews of their mission and setting agendas for the next eleven months.
Click here to view a list of upcoming Joint Interim Standing Committee meetings.
Click here to view the list of Bill Draft Requests (BDRs) for the upcoming 2023 Legislative Session.
2021 Redistricting Maps
The new boundaries would give 14 of the 21 state Senate districts and 27 of the 42 Assembly districts a voter registration advantage for Democrats over Republicans of more than 4.5 percent.
The Nevada Independent
Please see the links below to view the new district lines for Nevada Assembly, Senate and Congressional delegation.