Vegas feeling the pinch ?
 

http://www.time.com/time/business/ar...0.html?cnn=yes

The good times cannot last forever:2 cents:

Yep, everyone is feelin' it and it's only going to get worse in '09.

So many empty houses in this country now.

I drive around and some areas is like every 10th house is abandoned.

Where there's a threat, there's a possibility.
With the dollar low they should target more foreign visitors.

Cheap rooms, allow smoking, hot chicks bringin' free drinks all the time & get the "old times" back. The last years Vegas is a bit "dull" compared to earlier years.
Too much shows, overpriced food & magic and just too much attention on "whales" that now lost most their wallstreet stocks and stay away.
John Doe must be targetted these days.

Lottery is florishing better then ever here in Holland.
In times of financial crisis, people gamble more. But it must be affordable to go there IMHO

valid ideas:thumbsup

We have been watching places here close up shop and the biggest issue that I see is the unwillingness to bend a little.

For some reason the Mall would rather lose ANY income from store X, rather than lower the rent. I know they have bills to, but maybe they need to streamline their home spending so that they stay open in the ling run. Adapt or Die.

I went to Hard Rock Tampa on Saturday and it was PACKED with gamblers! ( I won $55!)

:2 cents:

Vegas is definitely feeling the pinch.

I like the fact that hotel rates are pretty low for the opening weekend of March Madness when I'll be in Vegas :)

Wasn't that all supposed to be completed by now ??

With the dollar low they should target more foreign visitors.
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The problem with that is that cities like Macau are targeting the Asian base. Asian travelers always spend the most $$ in gambling revenue and are the highest of the high rollers.

Cheap rooms
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Rooms now are cheaper than ever. I'm a local here, and my wife and I got a suite at the Palazzo plus dining certificates, spa passes, etc...for $125. It can't get much cheaper.

allow smoking
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Smoking was never banned in casinos and strip clubs. The only place that smoking isn't possible is in restaurants, and that is far from what hurt business.

hot chicks bringin' free drinks all the time
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The free drinks have never disappeared and never will. There are promos galore, they held free shows at Hard Rock all last summer and clubs have done away with covers for the most part.


The last years Vegas is a bit "dull" compared to earlier years.
Too much shows, overpriced food & magic and just too much attention on "whales" that now lost most their wallstreet stocks and stay away.
John Doe must be targetted these days.
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The funny thing is that originally, stage shows were what Vegas was built on if we want to get back to the real "old days". Think of the Rat Pack, Tony Bennett, Dean martin, Tom Jones, etc. Shows are what get the older market into the casinos and they are the ones that are spending the money.

John Doe does need to be targeted, but the problem is that John Doe isn't spending money on anything. Vegas is trying to have a classy image while escaping cheesiness. If they ditch the classier image now, than when the economy rebounds, we will be stuck with budget travelers once again.

The real solution is for Vegas to develop smaller but classier properties, bring in a professional sports team and develop bullet train transportation between cities like Las vegas, LA, San Francisco, Denver, Phoenix, etc. If this happens, travelers can come here, have a nice getaway and still provide jobs. Once the jobs can be distributed amongst the locals, the housing market can rebound and the city can get out of turmoil. :2 cents:

It's hard for me to imagine, because the strip has been packed the last week... Especially on christmas day, shows were sold out everywhere and it was hard to walk. Even high end shopping was busy as hell, I had to wait for over 20 minutes at the gucci store for an available salesperson :1orglaugh

DId you vote for Bush? Oh, you voted for him twice, did you? Hmm.

If the street was packed with people who had only $5 in their pocket then things
may not have been so great.

my friend who works in the casino / entertainment business there said it is pretty bad.

I think the hurt in vegas also has to do with travel prices all around. people are hurting and saving their money in case they loose their job. others that normally take a trip to vegas are scared to burn that money, let alone the hike in airline fees that make plane tickets now $60 to $100 more expensive (baggage fees, isle seat fees, etc.).

i know if i was living over in Europe or some place that was using the Euro, id for sure be hitting up the US right now for some deals

It is pretty bad and people are getting their hours cut..But I assume that is happening nationwide. The trickledown effect is a bitch!

Points taken. Speed trains are a good idea too.
But I doubt the positive sides we were both refering to will work out for Vegas, in short term that is.
I just like Vegas a lot and I hope it will never die

Vegas won't die, buy it can't be expected to thrive when the rest of the country is in the dumps. travel is a luxury, and at the moment luxuries aren't an option for many :(

Viva Las Vegas...... It will come back stronger than ever!

The problem you have in tight times is if you want to gamble.Most can do within a few hours from their house. So there isnt a need to go on vacation to gamble. Also people are scared and are pulling back hard. All you hear is fucking doom and gloom on the news.