It seems that talk of the drop in the economy has
have been primarily on the theoretical level, but now
it definitely seems that the slump has slumped enough
in order to be reflected in this years current revenue
amounts. But few would have guessed that the land of
chance, Las Vegas, would also be feeling the sting of
higher gas prices. For the past two years Las Vegas
casinos have been riding a wave of growth in epic
proportions, and though they certainly haven't lost
money they are not sitting quite as high as they have
been, due to the decline in the American economy.
Much of they business loss comes from the middle to
lower class segment that can no longer justify fancy
Vegas vacations in order to gamble when they are
having a harder time filling up their gas tank and
paying their bills. Even Wal-Mart reported a sharp
decrease in sales, from all of the delusional middle
to lower class shoppers getting the rude awakening
that they simply cannot pretend to be rich by buying a
lot of low price crap. Of course the rich continue to
get richer and squander their money at the casino
tables, musta gotten their piece of the oil pie early
on, eh?
Las Vegas Casino are in turn finding that the
majority of their rooms and restaurants that cater to
the more moderate minded spenders are much more empty
than usual, while their smaller amount of upscale
suites and high end restaurants are still chugging
along at a comfortable pace. the same is being felt in
other industries like the cruise market. "In the past,
the casino sector has been very resilient. But we may
be seeing ... a breaking point where these economic
forces do start impacting the casino industry as they
do some other consumer-related industries." But even
that may been a bit of an exaggeration because even if
casinos aren't making as much money, they will always
be making money in the end, it is the fundamental
element of the structure.
