Tuesday, May 6, 2008

Recession in Las Vegas

Just heard on the CBS night news, Las Vegas, that "used to be recession-proof," has gambling revenues down nearly 5% this year. They previously only fell once since 1970, 1% after 9/11.

Convention business is down over 10%, and MGM-Mirage's stock price has fallen from over $100 last October to below $49 today. More evidence consumers are tightening.

8 comments:

Anonymous said...

Part of the problem is the high gas price. If you take the I15 you sit in your car for hours burning up gas and going nowwhere fast.

Probably the local casinos will fare a little better than Vegas.

Wooster said...

Perhaps the boom in Macau has taken a lot of the Asian market away. I have a friend who has been there several times and prefers it to Vegas.

Anonymous said...

westside bubble,
I think you need to do a post on 14th Street and all that inventory just sitting there. Is 14th Street the canary in the coal mine for NOM?

Anonymous said...

I can has foreclosures in Brentwood?

LA Land blogged about it:
http://latimesblogs.latimes.com/laland/2008/05/double-trouble.html

See:
http://latimes.2.homescape.com/SCS/listing_details.jsp?calling_page=listing_result_list&affiliate_name=latimes&filter_max_price=550000&tab_num=1&geo_area_id=47586%2C75629&listing_result_page=listing_result_list&community_sort_id=1210206268797&search_by_type=new_mls%2Cnew_class%2Cnew_const%2Cresale_mls%2Cresale_class%2Cresale&filter_property_type=condo_unit&display_default_state_id=47538&filter_product_id=31347024
and
http://latimes.2.homescape.com/SCS/listing_details.jsp?calling_page=listing_result_list&affiliate_name=latimes&filter_max_price=550000&tab_num=1&geo_area_id=47586%2C75629&listing_result_page=listing_result_list&community_sort_id=1210206268797&search_by_type=new_mls%2Cnew_class%2Cnew_const%2Cresale_mls%2Cresale_class%2Cresale&filter_property_type=condo_unit&display_default_state_id=47538&filter_product_id=34127409

Anonymous said...

I think that 21 Street and Montana has lowered its price(yet again). It has a red nifty emblem on its "For Sale" sign.

anton said...

Newgamblecasino.com casino online play

AccessVegas.com said...

Gaming revenue now makes up less than 1/2 of all revenue. People are coming less and less for the gaming and more for the shopping, shows, and clubs.

If people were really spending less here, you'd see a rash of clubs cutting hours and shows shutting down. (Spamalot is leaving, but is being replaced by Danny Gans, who is being replaced by Terry Fator. Bottom Line: No loss of shows).

Gaming stock prices simply are the public's reaction to all the "Vegas Is Dying" stories. Once again, the true barometer of Las Vegas tourism is occupancy. Let me know when it chronically dips to 85% and then we can talk Las Vegas recession.

I wrote a pretty extensive blog post debunking the national (inaccurate) stories at:
Las Vegas Is Not In A Recession... Puhleeeze

The Strip is packed mid-week. Someone forgot to tell Las Vegas visitors that a recession was happening.

Ted Newkirk
Managing Editor
Access Vegas Insider Vibe

sexy said...

情趣用品,情趣用品,情趣用品,情趣用品,情趣用品,情趣用品,情趣,情趣,情趣,情趣,情趣,情趣,情趣用品,情趣用品,情趣,情趣,A片,A片,A片,A片,A片,A片,情趣用品,A片,情趣用品,A片,情趣用品,a片,情趣用品

A片,A片,AV女優,色情,成人,做愛,情色,AIO,視訊聊天室,SEX,聊天室,自拍,AV,情色,成人,情色,aio,sex,成人,情色

免費A片,美女視訊,情色交友,免費AV,色情網站,辣妹視訊,美女交友,色情影片,成人影片,成人網站,H漫,18成人,成人圖片,成人漫畫,情色網,日本A片,免費A片下載,性愛

情色文學,色情A片,A片下載,色情遊戲,色情影片,色情聊天室,情色電影,免費視訊,免費視訊聊天,免費視訊聊天室,一葉情貼圖片區,情色視訊,免費成人影片,視訊交友,視訊聊天,言情小說,愛情小說,AV片,A漫,AVDVD,情色論壇,視訊美女,AV成人網,成人交友,成人電影,成人貼圖,成人小說,成人文章,成人圖片區,成人遊戲,愛情公寓,情色貼圖,色情小說,情色小說,成人論壇


免費A片,日本A片,A片下載,線上A片,成人電影,嘟嘟成人網,成人貼圖,成人交友,成人圖片,18成人,成人小說,成人圖片區,微風成人區,成人文章,成人影城

視訊聊天室,聊天室,視訊,,情色視訊,視訊交友,視訊交友90739,免費視訊,免費視訊聊天,視訊聊天,UT聊天室,聊天室,美女視訊,視訊交友網,豆豆聊天室,A片,尋夢園聊天室,色情聊天室,聊天室尋夢園,成人聊天室,中部人聊天室,一夜情聊天室,情色聊天室,080中部人聊天室,080聊天室,美女交友,辣妹視訊