Down and out in Las Vegas

(via The Independent) · July 4, 2008 · 5:44 PM

The Independent, which is based in London, writes about the economic problems that have been affecting Las Vegas this year saying that the city's problems "all boil down to a single, unavoidable point: right now, far too little happens in Vegas, because not enough people are actually staying there."

The Indepedent Times writes, "The global slowdown, high petrol prices, and a nation-wide housing slump is spelling disaster for a town that owes every aspect of its wealth – from that gaudy replica of the Eiffel Tower to those scale models of Venetian canals and the Pyramids of Egypt – to its ability to inspire free-spending hedonism.

"With Americans cutting back on luxuries, and the price of transport rocketing, the so-called "Vegas vacation" is facing the axe. This week, as the nation celebrated Independence Day, major hotels were taking stock of a fall in all-important room occupancy rates from their usually impressive 95 per cent levels to nearer 80 per cent."

Discussion: 9 comments so far...

By mikeg

7/5/08 at 10:01 p.m.

Suggest removal

or try 60%
By 777irish

7/6/08 at 5:23 a.m.

Suggest removal

As a former resident,I watched and shook my head every time a new property was being built. I watched as the strip went from one theme to another,only to (each time) disregard the very people that made it so sucessful in the first place. Vegas was one of a kind, and when you went there it was a fun time, with many different ways to have a good time (on the cheap)..a nice little get away. Now, Vegas has geared itself to the high rollers, the forign tourists that want to shop, and dine on expensive food. So, where is it that the everyday person can go to enjoy a three or four day "get away"?. Rooms? $200-$300 per night? Buffets at $30 and up? Shows at $100-$200? I think not. Vegas has lost its appeal to the average person. They totally pushed away the very people that were consistant..and came back 2 or 3 times per year. And the biggy..gambling!! they can say over and over its not all about Gambling, but it was all about gambling!!! Even if you were not a "high roller" you could still enjoy partaking in some real fun, by spending a little time at the slots..or tables...and still get, maybe a free buffet..or SOMETHING..for your time...because thats was what Vegas was all about..not now..if you are not a high roller, you almost do not exist, at least to the casino. I loved living in Vegas, at the beginning..but saw how it was on the downturn, and only wish, that in time, they will come back to the basics, and make it a fun place to go...once again...somehow, though I feel that with the economy the way it is now..that is just not going to happen..sad!!!
By route66

7/6/08 at 7:34 a.m.

Suggest removal

I agree 100%. Not ever being a high-roller, I always thought I got value for my money.
Even if I lost my a$$.
Cheap buffets and rooms are a thing of the past.
6:5 Blackjack is the standard now.
Slots are so tight they need grease.
$100 and up shows are the norm.
They are competing with every Indian casino in almost every state, and how they plan to fill up the almost 40,000 rooms coming on line in addition to the ones they already have is beyond me. High rollers don't care, one way or the other. But the joe six-packs are getting priced out. And the pain-in-the-butt airline travel and cost of gas makes it more trouble than it's worth.
By Chihuahua_Mike

7/6/08 at 10:16 a.m.

Suggest removal

Two points to add to the above: (1) increasing fuel costs will further impact our Vegas experience beyond our own gas purchases.
The cost of diesel is over $5 per gallon, and diesel is what brings the "buffet" to the desert.
(2) The slot machine industry has hyped itself up
with fancy machines that guzzle megawatts of juice, further cuttng back on payout percentages.
Take me back to three reels and coins clattering into metal trays. That was my Vegas.
By mimsy

7/6/08 at 10:39 a.m.

Suggest removal

I live in LA and I used to go to Vegas about 4 or 5 times a year. It was fun and affordable. Now, it's crowded and expensive. I can get more bang for my buck at the Indian casinos in California. I loved Vegas but it didn't love me back.
By gold1020

7/6/08 at 2:52 p.m.

Suggest removal

Wait until the airlines start cutting back the scheduled flights to Vegas because of the fuel costs. In the last few years-the mission of Vegas has been to fly people out & take their money from EVERY available angle-not just in the Casino. Food & rooms should be loss leaders to get people into the Casino. They seem to have forgotten this & it will come back to bite them. Look at the stock prices of WYNN & MGM & LVS-thats what happens when you only go after the high rollers & forget about the average gambler. Good luck Vegas-because you're gonna need it.
By jfnance32

7/6/08 at 3:11 p.m.

Suggest removal

Gas prices are killing Las Vegas and jobs in Las Vegas.

Reid does not care.

Obama does not care.

They both will shout and scream "NO DRILLING", "NO DRILLING" until hell freezes over.

They just do not care about jobs in Las Vegas.
By TexasGirl

7/6/08 at 4:07 p.m.

Suggest removal

I agree with what everyone has said. I got married in Vegas back in 1988 and LOVED the Vegas it was before the monster hotels took over. I went back to Vegas last summer and it was exhausting, overpriced and the biggest bummer was NO COINS!!! I couldn't believe all the machines spit out receipts. The clanking of coins is what was so much fun to see and hear. Cheap buffets? We stood in line for an hour at the Spice Market Buffet which was expensive. You can't leisurely drive down the Strip or downtown like the old days. I was so dissapointed I haven't wanted to go back. It's not fun anymore if you can't do it on the cheap and fill buckets up with coins. The old Vegas was much better.