EvenBob
EvenBob
Joined: Jul 18, 2010
  • Threads: 423
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February 13th, 2013 at 9:04:37 PM permalink
Two unrelated things don't bode well for the economic
recovery of Vegas. First, the big ferris wheel project,
Skyvue, is off the table due to lack of funding. And
the reopening of the Sahara is also not going to happen,
no funding there also.

This shows us Vegas is still majorly on the ropes. Just a
few years ago both these projects would have been an
unquestioned done deal. Now they can't find financial
support anywhere in the world. Its really pretty amazing,
and very depressing.

A few weeks ago all the construction companies working
on Skyvue filed suits to get paid. Where have we heard
this before..

http://www.lvrj.com/news/skyvue-s-financial-troubles-mount-187065001.html

"It's not enough to succeed, your friends must fail." Gore Vidal
bbvk05
bbvk05
Joined: Jan 12, 2011
  • Threads: 7
  • Posts: 382
February 13th, 2013 at 9:28:13 PM permalink
Vegas has too many premium (3 star plus) properties as-is. One major property needs to close and all of the others will be more viable. Unfortunately the are basically all owned by the same 3 companies and they can all take the heat for a long time.
MrV
MrV
Joined: Feb 13, 2010
  • Threads: 310
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February 13th, 2013 at 10:47:10 PM permalink
Maybe the suckers have finally wised up.
"What, me worry?"
AlanMendelson
AlanMendelson 
Joined: Oct 5, 2011
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February 13th, 2013 at 11:25:41 PM permalink
Vegas is not immune to overbuilding and contraction cycles. When business is good everyone overbuilds. then the necessary contractions come. In the next cycle theyll overbuild again.

Unless youre name is Wynn, Adelson, or you are a major shareholder, does it make a difference to you?

Personally I like that Vegas is struggling a bit. It might mean better offers to get me to play there.

When business is good they won't bother courting me.
MrV
MrV
Joined: Feb 13, 2010
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  • Posts: 6775
February 13th, 2013 at 11:53:41 PM permalink
Don't bad economic times in Las Vegas cause misery and disgruntlment to casino dealers?

Their tips go down, they're let go, have hours cut; all because of tough times.

So I guess it makes a difference, if not to us then to them.
"What, me worry?"
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 264
  • Posts: 14387
February 14th, 2013 at 12:16:27 AM permalink
Quote: MrV

Don't bad economic times in Las Vegas cause misery to casino dealers?

So what? Ain't no MBA type around who cares about the dealers.
Management bonuses, stock prices, ... dealers ain't nothin' but bell hops what ain't got a union!
AlanMendelson
AlanMendelson 
Joined: Oct 5, 2011
  • Threads: 88
  • Posts: 3257
February 14th, 2013 at 2:37:46 AM permalink
Quote: MrV

Maybe the suckers have finally wised up.



I get better video poker at Harrah's Rincon in San Diego than I do at Caesars Palace. Plus Rincon gives me bounce back, free play, and Total Rewards comp multipliers that I don't get in Vegas but I can use in Vegas, as well as the same Great Gift Wrap Up points.

The only reason for me to go to Caesars Palace is if I want to throw dice and play real craps (or I could go to the $3 table at Jean) or I want to see a show. Since they cut my "offers" I told my host they are not big enough to get me up there.
Pokeraddict
Pokeraddict
Joined: Feb 21, 2012
  • Threads: 36
  • Posts: 786
February 14th, 2013 at 2:57:29 AM permalink
Where are you reading that Sahara rebuild into SLS is not going to happen? They broke ground just today, hours before you made this post.

http://www.lvrj.com/business/sbe-entertainment-secures-last-of-415-million-in-financing-for-sahara-190944381.html

Who cares about the ferris wheel...
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 264
  • Posts: 14387
February 14th, 2013 at 3:12:30 AM permalink
Quote: AlanMendelson

I get better video poker at Harrah's Rincon in San Diego than I do at Caesars Palace.

How much better? And how much better at VP is Rincon when compared to a Vegas property known for its VP?
s2dbaker
s2dbaker
Joined: Jun 10, 2010
  • Threads: 51
  • Posts: 3259
February 14th, 2013 at 3:22:21 AM permalink
This is actually good news. If EvenBob thinks that something is bad then it must be good because one thing I've learned from this board and the past election cycle, EvenBob is always wrong.
Someday, joor goin' to see the name of Googie Gomez in lights and joor goin' to say to joorself, "Was that her?" and then joor goin' to answer to joorself, "That was her!" But you know somethin' mister? I was always her yuss nobody knows it! - Googie Gomez

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