Can Vegas recover?

Quote: Wizard

I think a great spot for a water park would be those fleabag motels across the Strip from the Mandalay Bay.

I believe that MGM Resorts owns a lot of that land across from Mandalay Bay. It is in reserve for future development.

The site of the long vacated Key Largo Casino (across Paradise Road from Terrible's) might be a good site. It has some inexpensive casinos like Tuscany and Terribles within walking distance, and cheap long stay hotels like Candlewood. It is less than a mile from the lower price Harrah's casinos. It would be attractive to families visiting Vegas so that they would have some affordable places to stay.

Mandalay Bay and Luxor are not that inexpensive for many families.

Quote: Nareed

Why put persuaded between quotes? If you ahve any evidence of improper pressure, foul play or any other unseemly action, then stop hinting and present it. Otherwise kindly stop the unfounded innuendo.

In Vegas, land deals involving casinos, or, more precisely, land casino developers want, have a way of being resolved in favor of the casinos (as is every other dispute, legal and otherwise). WNW was a booming, successful attraction. Its owners would have to have been crazy to want to abandon ship--therefore, my not-much-of-a-stretch presumption was that they were strong-armed outta there in some way. Can I PROVE that? No, of course not--I neglected to install a hidden mike in the booth at the Peppermill where the deal was struck (darn it). But I would be willing to bet $100 to a stale Circus Circus buffet dinner roll that the deal was made the good old-fashioned Vegas way.

Quote: mkl654321

Can I PROVE that? No, of course not--

The you should shut up.

Quote: Nareed

The you should shut up.

I am allowed, on this forum as well as in general as a right of being an American, to voice suspicions, thoughts, inferences, reservations, speculations, musings, inferences, calculations, observations, probabilities, circumstances, reasonable doubts, posits, theories, possible explanations, and the occasional just plain whimsical thought.

Nobody, including yourself, holds YOU to the standard of "proving" everything you say. Nor should they.

Therefore, I respectfully suggest that you should take your suggestion that I "should shut up" and, metaphorically or literally, insert it into your anal cavity until it encounters complete darkness.

From 3 weeks ago:

"Based on the newest numbers in a Review-Journal/8NewsNow survey, Nevadans don't enjoy high hopes for improvements in the state's commercial climate. Just 12 percent of respondents said they expect Nevada's economy to begin its recovery within the next year. Another third predict improvements to emerge sometime in the next two years. That leaves nearly half the state -- 48 percent -- believing it'll take up to three years or beyond for the Silver State's economy to perk back up."

Clark county is still setting record lows with each new month reporting. The peak was 34 months ago. Northern Nevada doesn't look like it stands a chance in competing with competition from Indian Casinos in Sacrament. It's a small market that caters to Salt Lake city, but it seems to be the only one that is growing.

That is almost 3 years of decreases, and they are still opening a casino in December (The Cosmopolitan). Prior to this recessions gaming used to increase about 0.8% a month. So the revenue has to not only get back to where it was, but it should propertly increase somewhat to account for all the new casino resorts.

I would say that three years is very optimistic.

Quote: pacomartin

Clark county is still setting record lows with each new month reporting. The peak was 34 months ago. Northern Nevada doesn't look like it stands a chance in competing with competition from Indian Casinos in Sacrament. It's a small market that caters to Salt Lake city, but it seems to be the only one that is growing.

That is almost 3 years of decreases, and they are still opening a casino in December (The Cosmopolitan). Prior to this recessions gaming used to increase about 0.8% a month. So the revenue has to not only get back to where it was, but it should propertly increase somewhat to account for all the new casino resorts.

I would say that three years is very optimistic.

"Northern Nevada" means at least two different markets. Reno is over 500 miles from Salt Lake City so it doesn't affect that market very much; what you're probably thinking of is Wendover, which is also hurting pretty badly.

Reno/Carson/Tahoe is a market that can survive even without the casinos, with Tahoe, skiing, etc. being major draws in their own right. The Indian casinos in the Sacramento area haven't affected Reno casinos all that much; for one thing, Cache Creek takes almost as long to get to from Sacramento as Reno does, and Thunder Valley takes quite a while as well. Both casinos, moreover, are total ripoffs, with lousy gambling.

For the above reasons, I expect Reno/Tahoe to recover quite a bit sooner than Southern Nevada. Their economy always was more diversified, which means that they have a better chance to recover even after gaming goes in the crapper. Vegas, by contrast, has no fallback position; there's absolutely no reason to go there other than to gamble.

Quote: pacomartin

Clark county is still setting record lows with each new month reporting. The peak was 34 months ago. Northern Nevada doesn't look like it stands a chance in competing with competition from Indian Casinos in Sacrament. It's a small market that caters to Salt Lake city, but it seems to be the only one that is growing.

That is almost 3 years of decreases, and they are still opening a casino in December (The Cosmopolitan). Prior to this recessions gaming used to increase about 0.8% a month. So the revenue has to not only get back to where it was, but it should propertly increase somewhat to account for all the new casino resorts.

I would say that three years is very optimistic.

Here's an article that came out today. Doesn't sound good.

http://www.startribune.com/nation/104212478.html?elr=KArks:DCiUMEaPc:UiacyKUUr

Is that the Golden Nugget in the interior shot?

The big casinos that are losing high rollers and that are crashing fast are:

1. Caesar's Palace is done. For starters, they can't afford to replace their roulette readerboards, The place looks run down. I've also heard rumors of what could be considered "bad faith" in the past with high rollers money. Add to the mix the Terrance Watanabe scam and nobody trusts them with a nickel deposited in the cage. Caesar's should be considered a night club, not a casino.

2. The MGM. The City is devouring the MGM. Add to the mix bad customer service and unfriendly dealers/pit and you've got a bad blend. Most of the table games are now closed during the week in an effort to slow the bleeding. The bright side, they have "KAW".

-Keyser

Quote: Keyser

Most of the table games are now closed during the week in an effort to slow the bleeding.

-Keyser

How many are open at night during the week. They used to have 5 roulette tables open in the afternoon during the week.