Economic Troubles Affect the Vegas Strip

[zengrifter]

May 6, 2008

Economic Troubles Affect the Vegas Strip

By CLIFFORD KRAUSS

LAS VEGAS — For decades, this gambling center seemed nearly immune to the economic swings of the rest of the country. But these days, the city built on excess is seeing a troubling sign: moderation.

Gambling revenue and hotel occupancy are down. Resorts are slashing room rates and offering coupons or free nights. Casino operators are firing hundreds of workers, and their stock prices have plummeted since October. Credit is drying up for hotel and condominium projects planned before the slowdown arrived.

Even the people still coming to Las Vegas are spending less. Julia Lee, 27, of Los Angeles said she normally brings $10,000 on her trips here to play blackjack. As Ms. Lee picked up show tickets the other night, she said she had brought less than half that on this trip. “My parents are in real estate, and we’re worried,” she said.

MORE- http://www.nytimes.com/2008/05/06/business/06vegas.html?ei=5070&en=a4ae0a26b5eb809b&ex=1210737600&adxnnl=1&emc=eta1&adxnnlx=1210100721-efgehOAxJhA3idsGW4lJyg

 

[zengrifter]

Ahh the myth of recession-proof gaming industry. zg

 

[Cardcounter]

6 to 5 backfire!

Maybe less people are coming to Vegas because so many Casinos are only paying 6 to 5 for blackjack. The 6 to 5 game takes the customers money to fast. I have had a lot of customers say I'm willing to lose $100-$200 if that money can last me at least 2 hours but if it is gone in 15 minutes I'm out of here.

 

[jimbiggs]

Maybe less people are coming to Vegas because so many Casinos are only paying 6 to 5 for blackjack. The 6 to 5 game takes the customers money to fast. I have had a lot of customers say I'm willing to lose $100-$200 if that money can last me at least 2 hours but if it is gone in 15 minutes I'm out of here.

So you're saying the article is bullsht and this slump is all because of 6:5 bj? I'm not reading your posts anymore.

 

[ihate17]

hogwash!

Maybe less people are coming to Vegas because so many Casinos are only paying 6 to 5 for blackjack. The 6 to 5 game takes the customers money to fast. I have had a lot of customers say I'm willing to lose $100-$200 if that money can last me at least 2 hours but if it is gone in 15 minutes I'm out of here.

Sure 6/5 blackjack sucks, but fewer tourists in Vegas is purely a sign of the deep recession (perhaps depression) that we are now in with no visible near future exit from.
People are losing their jobs and their homes while prices for many things skyrocket such as, food, medicine and fuel, and you actually think 6/5 blackjack even enters their mind.
No: They need their money to survive and gambling destinations are not for people who presently are struggling just to survive.

ihate17

 

[mdlbj]

Ahh the myth of recession-proof gaming industry. zg

nice marketing ploy.. Gamblers will still gamble and drinkers are still gonna drink. This is the best time to invest into these companys