March 26, 2008
Is Las Vegas slowing down?
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With the x-rated word (recession) being bandied around these days, it is interesting to see how this effects the “recession-proof” gambling industry.
Pundits that have always claimed that gambling is not be affected by a slowdown in the economy are getting their beliefs put to the test these days. Las Vegas has had a tough year. Tied with Miami for the biggest year-over-year drop in housing prices, at a unbelievable 19.3 percent, add to that near record highs in gas prices and you get… well a bit of a slowdown.
According, to the stats (if you can really believe them) Las Vegas was down about 5 percent in January over January a year ago. My recent trip to Sin City would confirm this. I saw less crowds and way less machines and table games being played. More on Is Las Vegas slowing down?
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