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Old 02-13-2013, 08:02 PM
 
6,385 posts, read 11,882,881 times
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Can I vote never?
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Old 02-13-2013, 10:54 PM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,807,763 times
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Quote:
Originally Posted by dynimagelv View Post
havin lived in LV for MOST of the last 50 years and ALSO livedin AC at the onset of Casino Gaming there....I am a firm believer that the BEST thing to have happened to LV was AC.

It exposed a gigantic number of people to Casino Gaming that had NEVER experienced it and made them want to come to LV to see how it was REALLY done.
Well spoken and throw in the Indian Casinos as well LV is still the American Mecca and one other plus is it has great weather most of the time. The convention business really helps also. The other plus side is that LV is going to keep changing which means they re not going to just get fat and happy. That is what happen to Atlantic City because of the big draw from NYC. Lets just hope Nevada does not turn into a nanny state it has built a great reputation for adult fun and lets keep it that ay.
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Old 02-14-2013, 01:34 PM
 
15,841 posts, read 14,469,933 times
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Never's a really long time, and things tend to go in cycles. Vegas has had a few cycles of casino construction and dormancy. They had a long, hard boom cycle, and are now having an equally hard down cycle.

To break it out would need a good solid national economic growth spurt. But I don't think that's happening soon.

Quote:
Originally Posted by Willy702 View Post
Can I vote never?
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Old 02-14-2013, 02:33 PM
 
670 posts, read 1,104,372 times
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Quote:
Originally Posted by kttam186290 View Post
When will the next casino boom occur?

Probably soon, but not in Las Vegas, NV.

More likely in Spain where Sheldon Adelson wants to build a "Euro Vegas", despite protests from the locals there.

I think Macau is pretty well built out and nothing significant is going to happen in Atlantic City, Tunica or Reno. Laughlin is struggling to hang on. There might be some modest expansions in Indian gaming joints across the U.S. though.

Las Vegas, NV needs to take inventory and do some soul-searching before another boom will occur.

You've got the zombie casino/hotel Fontainbleu, the boarded-up Sahara with promises (so far not kept) to re-open it and the skeleton of The Echelon, a reincarnated Stardust that has yet to fully incarnate.

Before you even get to those three, you've got a huge number of existing unoccupied hotel rooms on the Strip, Downtown and on the Boulder Hwy corridor in the current market, not to mention the Stations scattered across the valley.

Sorry if this sounds harsh, but I'm being as honest as I can.
The Las Vegas strip has taken decades to build and Billions of dollars to construct. Many states have legalized gambling (casinos) but no other state has anything remotely like the Las Vegas strip. Given the current state of the economy no developer anywhere is going to spend the Billions of dollars anytime soon required to even come close to replicating the Las Vegas strip, especially in a country like Spain! Spain's economy is abysmal - one of the four "PIGS" - Portugal, Ireland, Greece, Spain - four of the worse 1st world economies on the world with strong indicators of contracting further in 2013. International banks caution strongly with doing business with any of the four "PIGS", and it can be difficult to procure a Confirmed Letter of Credit from any reputable International Bank to do business in any of these countries.

Couple that with Las Vegas's proximity to LA making it a very attractive weekend destination for LA residents (and especially headliners who can take fly in on a private jet in less than an hour, do a weekend show, make some quick $$$ and be back home to LA in another hour) and you have a durable competitive advantage that will not be replicated anytime soon. As long as Los Angeles is the hub of media entertainment Las Vegas, thanks to it's proximity to LA, will continue to be the country's (and one of the world's) adult playgrounds.

Las Vegas is the original. Las Vegas has decades of "brand recognition" driving it. The vegas strip is driven by much more than just gamblers. Many non gamblers travel to Las Vegas to "see The Strip", take in the shows, etc.

Las Vegas is to gaming and entertainment what Coca Cola is to Soda, McDonalds is to fast food, Budweiser is to beer and Microsoft is to operating systems. It's something that cannot be replicated with mere money. And even if it could, it would not likely happen in this economy anytime soon.

A good friend of mine is a Senior Financial Analyst for the resort company who owns 10 casinos in Las Vegas. Through the worse of the downturn occupancy on the Strip never fell below 82%.

Every time I've ever flown into Las Vegas from anywhere in the county no matter what time of day or night or what airline I flew every flight began with the Flight Attendant notifying passengers that the flight was completely full. Every flight every time. And the bulk of my time traveling to Vegas was during the worse of the economic downturn.

Expansion will continue in Las Vegas. When and to what degree no one can tell as no one can forecast markets. This much is certain: Las Vegas is not going anywhere in the near future.
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Old 02-14-2013, 07:30 PM
 
6,385 posts, read 11,882,881 times
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Quote:
Originally Posted by BBMW View Post
Never's a really long time, and things tend to go in cycles. Vegas has had a few cycles of casino construction and dormancy. They had a long, hard boom cycle, and are now having an equally hard down cycle.

To break it out would need a good solid national economic growth spurt. But I don't think that's happening soon.
Maybe never is not a good word, but I worked industry for quite some time and I could see the writing on the wall when I left in 2009. Gaming is near saturated in demand terms on a national basis. Slot play is stagnant and could start going down as the prime demographic literally dies off. The younger demographic is taking up casino gaming in much different forms and are the driving force behind internet gaming. Meanwhile the big building booms of the last 15 years for casinos were driven because slots grew drastically in popularity and profit per machine as one state after another legalized them.

This shift doesnt mean LV will disappear, but it does mean peak gaming revenues may be upon us. The hotels have figured out how to capture some of this lost revenue in other amenities but it doesnt call for billion dollar investments in hotels. It calls for regular refurbishing of existing stock and you see this quite a bit. But a whole new building costing billions just doesnt pencil out unless a number of others shut their doors for good.
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Old 02-14-2013, 08:46 PM
 
15 posts, read 38,710 times
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This has turned out to be a very interesting discussion - I am a financial economist, with a Master's degree in economics, and I spent many years as an industry analyst for many industries. At 44, I am semi-retired and now work at a fun job on the Strip.

While I will be the first to admit that we economists do not have all of the answers, I do have some education under my belt and experience in analyzing industries, nationally and regionally.

I am leaning toward the optimistic side for many of the reasons mentioned, with a good chance for strong new casino construction in 4-7 years - plus, I just bought a house, new construction, in Las Vegas, and the closing is scheduled for March 10th, so I hope I turn out to be right!
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Old 02-15-2013, 04:07 AM
 
Location: Earth
4,505 posts, read 6,480,867 times
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I say attract all of the gun manufacturers from all the socialist states!
Then we'll have a manufacturing base too!
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Old 02-15-2013, 03:20 PM
 
4,862 posts, read 7,961,723 times
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From what I hear when people gamble outside of the US there's no tax concern like in the US. Win big and winnings are reported in the US.. That being said i would think people with the big money would just go somewhere else..

That being said I really don't have a clue wheat I'm talkign about so someone in the know can chime in.
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Old 02-15-2013, 03:52 PM
 
Location: Studio City, CA 91604
3,049 posts, read 4,544,468 times
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Quote:
Originally Posted by vtvette View Post

...Couple that with Las Vegas's proximity to LA making it a very attractive weekend destination for LA residents (and especially headliners who can take fly in on a private jet in less than an hour, do a weekend show, make some quick $$$ and be back home to LA in another hour) and you have a durable competitive advantage that will not be replicated anytime soon. As long as Los Angeles is the hub of media entertainment Las Vegas, thanks to it's proximity to LA, will continue to be the country's (and one of the world's) adult playgrounds.

Las Vegas is the original. Las Vegas has decades of "brand recognition" driving it. The vegas strip is driven by much more than just gamblers. Many non gamblers travel to Las Vegas to "see The Strip", take in the shows, etc.
One more reason for Las Vegans to curb their idiotic criticism of California! There wouldn't be a Las Vegas, as we know it, without California.
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Old 02-15-2013, 03:52 PM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 13,155,699 times
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I believe LV has that "something" that other cities and countries don't have. My old Japanese friend/supervisor that lived in Okinawa would fly to Hawaii or LV just for the eye candy of American women.

Can't get that in Japan.

(I'm sure he wast just "looking" at these women either.)



Posted from Nokia 8210
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