I always look at recreation as a leading economic indicator. If it starts to slow down, its time to pay attention. On a separate note, did you see Taibbi’s article on BLS cooking the books? Its bad. Some people should go to jail for it.
there have been rumors of that since Obama. never proven. Haven't read, I am not a subscriber but he and Schellenberger are breaking so much Deep State news, might be worth a shekel.
Also regional hubs are now mini-Vegas like places. Here in the South we have Nashville, Charleston, Savannah and the big scene of Miami. Places you can go to drink outdoors, party and let your wild side out (I’ve aged out of that behavior!)
It seems to some/many would be Vegas visitors, price has started to matter and as the cash extraction filters down through all levels of visitors they become more price sensitive and look for alternatives, especially the marginal traveler.
However, maybe the ongoing public safety concerns in California will keep pushing conventions and trade shows to Nevada.
I actually think the spread of gambling helps Vegas. Number one, they have to compete. Two, it makes them raise the game on other stuff to get you there. There is only one Sphere in America for example, two other Formula One races....Ironically, golf people must not travel and must not spend money because losing the PGA was no big deal. But, increasingly, sports events are becoming more and more of a big deal
Oh, please say it is not so: Democrat politician "Sisolak jammed through a heavily gerrymandered state map that Republicans have to contend with." I had been assured that only the eeevil Republicans in Texas ever tried such an eeevil thing.
I'm glad that you addressed this, been meaning to ask you as my feed too is flooded with the Vegas is doomed posts. Sure, everything has gotten more expensive, no shit. The whole campaign feels like click bait.
So many have predicted the demise of Disney due to their high prices as well. I was at a conference a couple of months ago at disney in so cal. Paid up to stay at a Disney hotel. Standing room only, the place was packed. Maybe only Vegas vacuums the cash from your pockets as fast as Disney!
And if all of the so cal wealthly folks feeding Disney are 30% of Vegas traffic, there you go. Vegas will make the A's great again too. Goodbye commie Oakland shithole.
Part of this is the inevitable pull back of the post-Covid boom. What's different though it that MGM and Caesar's sold off their real estate during the boom. So as Vital Vegas says, "all they own is their database". This gives them fewer levers to reduce costs (e.g. deferring maintenance, sweating assets, etc.) so as labor and other costs increase, they have to pass those cost increases on to consumers.
It creates a cycle of increasing cost, which drives down demand, which leads them to increase cost to make up for decreased income, which drives down demand and so on. I'm not sure how they'll break that cycle other than mass layoffs.
But I think that difference in land/building ownership is what explains a lot of the disparity you see between Boyd, Stations, and the more local operators vs. the big Strip operators in profitability.
Well said Jeff. The tourist problems are price gouging operators, broken down escalators, street people begging and harassing visitors, parking charges, filthy streets, petty crime and.... an altered brand that sells luxury, but can't deliver it like a Dubai can.
We went to Vegas for the Millenium. I saw a guy win a huge jackpot. Well over $100k. I think it was Casino Royale, which was rumored to be a mob run casino. After about an hour, they told him they wouldnt pay out because the machine malfunctioned. He was livid.
I'm sure casinos and other nightly activities helped move the convention business to Las Vegas from Chicago, but union activity, or inactivity helped mightily to drive it away. You needed union help of all types to set up your booth or display at the convention centers. It was very expensive and very inefficient.
True. In Chicago, it's terrible. It used to be that Vegas was where to have fun, Chicago was where to do deals. That changed. Deals get done in Vegas with a lot of actual selling happening.
McCormick Place has unique electrical outlet plugs so that a vendor at a convention can’t just plug something in. A union guy has to do it. The Chicago Way.
My Dad lived out there and we spent a good amount of time in the 70's and 80's and then the 90's. I was last there in 2008 and there was still free drinks at the tables.
Bring back the Mafia running them. Same to NYC, things were gooder. Organized crime ran things better than the government as usual.
I always look at recreation as a leading economic indicator. If it starts to slow down, its time to pay attention. On a separate note, did you see Taibbi’s article on BLS cooking the books? Its bad. Some people should go to jail for it.
there have been rumors of that since Obama. never proven. Haven't read, I am not a subscriber but he and Schellenberger are breaking so much Deep State news, might be worth a shekel.
Also regional hubs are now mini-Vegas like places. Here in the South we have Nashville, Charleston, Savannah and the big scene of Miami. Places you can go to drink outdoors, party and let your wild side out (I’ve aged out of that behavior!)
It seems to some/many would be Vegas visitors, price has started to matter and as the cash extraction filters down through all levels of visitors they become more price sensitive and look for alternatives, especially the marginal traveler.
However, maybe the ongoing public safety concerns in California will keep pushing conventions and trade shows to Nevada.
I actually think the spread of gambling helps Vegas. Number one, they have to compete. Two, it makes them raise the game on other stuff to get you there. There is only one Sphere in America for example, two other Formula One races....Ironically, golf people must not travel and must not spend money because losing the PGA was no big deal. But, increasingly, sports events are becoming more and more of a big deal
Oh, please say it is not so: Democrat politician "Sisolak jammed through a heavily gerrymandered state map that Republicans have to contend with." I had been assured that only the eeevil Republicans in Texas ever tried such an eeevil thing.
Where have been? You’ve obviously missed the media message only Republicans are evil. Just watch anything on MSNBC.
I'm glad that you addressed this, been meaning to ask you as my feed too is flooded with the Vegas is doomed posts. Sure, everything has gotten more expensive, no shit. The whole campaign feels like click bait.
So many have predicted the demise of Disney due to their high prices as well. I was at a conference a couple of months ago at disney in so cal. Paid up to stay at a Disney hotel. Standing room only, the place was packed. Maybe only Vegas vacuums the cash from your pockets as fast as Disney!
And if all of the so cal wealthly folks feeding Disney are 30% of Vegas traffic, there you go. Vegas will make the A's great again too. Goodbye commie Oakland shithole.
Part of this is the inevitable pull back of the post-Covid boom. What's different though it that MGM and Caesar's sold off their real estate during the boom. So as Vital Vegas says, "all they own is their database". This gives them fewer levers to reduce costs (e.g. deferring maintenance, sweating assets, etc.) so as labor and other costs increase, they have to pass those cost increases on to consumers.
It creates a cycle of increasing cost, which drives down demand, which leads them to increase cost to make up for decreased income, which drives down demand and so on. I'm not sure how they'll break that cycle other than mass layoffs.
But I think that difference in land/building ownership is what explains a lot of the disparity you see between Boyd, Stations, and the more local operators vs. the big Strip operators in profitability.
very good point.
Well said Jeff. The tourist problems are price gouging operators, broken down escalators, street people begging and harassing visitors, parking charges, filthy streets, petty crime and.... an altered brand that sells luxury, but can't deliver it like a Dubai can.
https://en.wikipedia.org/wiki/Capital_punishment_in_the_United_Arab_Emirates
https://en.wikipedia.org/wiki/Crime_in_the_United_Arab_Emirates
https://en.wikipedia.org/wiki/Legal_system_of_the_United_Arab_Emirates
I'll pass.
We went to Vegas for the Millenium. I saw a guy win a huge jackpot. Well over $100k. I think it was Casino Royale, which was rumored to be a mob run casino. After about an hour, they told him they wouldnt pay out because the machine malfunctioned. He was livid.
Seems like ordinary ebb and flow to me; just another dead meedja mirage to try to get something/anything bad to stick to the Orange Man.
I'm sure casinos and other nightly activities helped move the convention business to Las Vegas from Chicago, but union activity, or inactivity helped mightily to drive it away. You needed union help of all types to set up your booth or display at the convention centers. It was very expensive and very inefficient.
True. In Chicago, it's terrible. It used to be that Vegas was where to have fun, Chicago was where to do deals. That changed. Deals get done in Vegas with a lot of actual selling happening.
This came out today echoing my Mob sentiments. Too funny.
https://revolver.news/2025/08/the-downfall-of-sin-city-why-vegas-was-better-under-the-mob/
McCormick Place has unique electrical outlet plugs so that a vendor at a convention can’t just plug something in. A union guy has to do it. The Chicago Way.
My Dad lived out there and we spent a good amount of time in the 70's and 80's and then the 90's. I was last there in 2008 and there was still free drinks at the tables.
Bring back the Mafia running them. Same to NYC, things were gooder. Organized crime ran things better than the government as usual.