Gambling In Sin City Is it The Only Way To Make Money

The greed of Sin City may have finally caught up to it.

Recent financial reports out of Las Vegas from the two heavyweights — Caesars Entertainment and MGM Resorts International — show declining revenues and stormy projections.

Metrics are bad practically across the board: revenue per available hotel room, the most commonly used gauge of financial success, is down 4 percent; visitation is down 1 percent, room occupancy is also down 1 percent, convention attendance is down 3 percent.

The falling numbers come during a time when the American economy is booming, but that success hasn’t been parlayed in Vegas.

MGM cut its room rates to try to drum up business as it warned investors that the third quarter wouldn’t be particularly pretty in terms of dollars and cents. The company’s stock dropped to a 52-week low the first week of August.

David G. Schwartz, director of the Center for Gaming Research at the University of Nevada-Las Vegas, said “there are fears that Las Vegas has finally pushed its luck too far.”

I’m inclined to agree.

At a time when casinos are now popping up in or around more places across the country, creating more competition for Las Vegas, casino operators in Sin City have been using what Schwartz calls “nickel and dime tactics” to try to suck every possible dollar out of their visitors.

 

Full story Via Spectator 

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Started working in the Casino Industry in 1985, just never managed to leave as yet. Visited 99% of all UK Casinos, seen them all,

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