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Economy Briefs: O’Shea’s Irish-themed casino shuts its doors
Question of the Day
LAS VEGAS — A 23-year-old Irish-themed casino on the Las Vegas Strip has gone dark to make way for a major entertainment district.
O’Shea’s Casino closed Monday after urging patrons to “drink us dry” over the weekend.
The casino’s parent company is making way for a $500 million Linq project, which will include an outdoor shopping and dining area and a giant observation wheel.
Caesars Entertainment executives say they’ll bring back the casino’s distinctive casual atmosphere, live music and beer pong in a reinvented O’Shea’s within the Linq project.
O’Shea’s employs about 300 people. Casino officials say they’ve been trying to place them in other jobs within the company.
Qatar to pump $250M into Barclays fund
DUBAI — A government-backed Qatari firm laid out plans Monday to invest $250 million in a Barclays PLC natural resource investment business, deepening the Gulf nation’s bet on raw materials.
The Qatar Asset Management Co. said it will invest the funds into current and future holdings of a private equity business run by the British bank. A “substantial proportion” of its investment is destined for the $2.1 billion worth of assets already held by the business, known as Barclays Natural Resource Investments.
BNRI buys into companies involved in oil and gas, mining and other resource industries on behalf of co-investors around the world.
QAMC is run by the Qatar Financial Center Authority, which oversees the Gulf state’s financial sector, and the country’s Qatar Investment Authority sovereign wealth fund.
Already the world’s largest supplier of liquefied natural gas, Qatar has recently been pumping money into mining company Xstrata PLC. A regulatory filing Monday shows state-run Qatar Holding now owns more than 7 percent of the Anglo-Swiss company, which is being taken over by commodities trader Glencore International PLC.
Yahoo plans to double Olympics presence
LOS ANGELES — Yahoo plans to double its Olympics presence this summer, aiming to be the top website for the fourth straight games.
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