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Old 03-15-2009, 11:16 AM
 
Location: 89113
100 posts, read 279,116 times
Reputation: 45

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If I could plus rep you I would. Unfortunately I need to spread it around.
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Old 03-15-2009, 12:12 PM
 
Location: Here and there, you decide.
11,578 posts, read 22,679,105 times
Reputation: 3883
so if vegas is so dead, why don't you post some pictures displaying time and date also.
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Old 03-15-2009, 01:08 PM
 
Location: Norwood, MN
1,828 posts, read 3,280,118 times
Reputation: 871
Quote:
Originally Posted by Thisissam View Post
Vegas is just not what it use to be. So many half built high rises and buildings like City Center just sitting there weathering away with no construction on, yes, weekdays. I remeber having to wait an hour at the check in line at the hotel before and now hardly 15 minutes if even that.

The crowd in the hotels and restaurants are thin. The gentlemens clubs are bout 2/3 empty by midnight and its just depressing. I remember waiting 90 minutes at 2am to eat dinner at a restaurant. Now I walk in and maybe 8-9 people there at 12ish and half the resraurants lights off.

So depressing to go to Vegas and the energy and excitement that was alwys there is now gone.

And honestly, who knows whether it will ever come back seems like its hayday is dying if not already dead. *sigh*
Vegas and the la area are both stinking piles of ====. Atomic bombs dropped on both of them would be the best course of action.
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Old 03-15-2009, 01:45 PM
 
Location: Las Vegas (Huntridge)
1,158 posts, read 3,055,053 times
Reputation: 269
Quote:
Originally Posted by big daryle View Post
Vegas and the la area are both stinking piles of ====. Atomic bombs dropped on both of them would be the best course of action.
wow....who pee'd in your cheerios is morning?

i guess it is fortunate that you live in a little town in MN so you don't have to concern yourself w/ the "piles"....oh, wait: apparently you were already butt-hurt enough about something to come and post a gem like that.

if you want to be useful to the conversation, how about providing a reason rather than just venting some nonsense?
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Old 03-15-2009, 03:37 PM
 
63 posts, read 69,325 times
Reputation: 15
Yeah u guys are right. Oh well. I guess everything has its day.
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Old 03-15-2009, 03:54 PM
 
Location: 89113
100 posts, read 279,116 times
Reputation: 45
Quote:
Originally Posted by big daryle View Post
Vegas and the la area are both stinking piles of ====. Atomic bombs dropped on both of them would be the best course of action.
LOL. I was just in MN last week. I considered it to be a pretty nice place. I wouldnt move there personally, but the people were nice enough, and the accents... Everyone probably thought I was the nicest person alive since I always had a huge grin while talking with them. Anyway, I didnt run into any *******s like yourself so I had a pleasant experience.

Have you been to Vegas or LA? If yes, please provide some anecdotal evidence regarding the "stinking piles of ====". The millions of tourists and residents would love to hear it Im sure. Myself included.
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Old 03-15-2009, 04:46 PM
 
Location: Here and there, you decide.
11,578 posts, read 22,679,105 times
Reputation: 3883
Quote:
Originally Posted by KillerStephen View Post
Anyway, I didnt run into any *******s like yourself so I had a pleasant experience.

.
theres a rep for ya.
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Old 03-15-2009, 04:55 PM
 
391 posts, read 1,582,862 times
Reputation: 143
Visitation and revenues are around, what, 2002-2003 levels? Hardly qualifies as "dying". Gaming revenues last year I think were off like 9% from the year before, which I think was close to a record (may have been 2006). Again, hardly qualifies as dying but the decrease is typical of a deep recession.

The main problem is the debt. With room rates significantly down, that's a big hit to the bottom line. Without the huge debt burdens these casinos would be managing just fine, albeit it significantly lower earnings. Basically, they took on so much debt that there was no margin for error for a decrease in earnings. Harrah's had very aggressive assumptions about growth in revenues to support the high premium and massive amounts of debt undertaken in the buyout. MGM, additionally, assumed brisk condo sales at a hefty price to sustain it's debt load.

Basically, a downturn was never factored into these business plans. A huge miscalculation but one that is hardly confined to gaming companies.

They are still cash cows and should not have that much trouble finding financing for a restructuring in bankruptcy. The current debt and equity holders will take a bath, but companies can thrive after going through a restructuring. And I think that will be the case here. STN obviously is going down, Harrah's is all but likely, and MGM has a high probability of bankruptcy as well. They'll come out of bankruptcy with a more manageable debt load at about the time the economy should start turning and I should think they'll do quite well.

At that point it becomes whether management has learned their lessons and starts to run the business more consistent with how you manage in a mature industry as I think growth is the US is probably leveling off with gaming just about everywhere now. This means closing or selling poor performing properties and probably replacing existing properties rather than add to supply pressure with a new, additional property.

Another big challenge for the brass to navigate is all the new properties opening up are pretty much targeting the high-end, luxury segment. That's a segment that certainly isn't growing and has shrunk. It seems inconceivable that Bellagio, for example, might end-up more a mid-tier product. But given the competitive landscape, some of the older properties are going to have to re-think their positioning and evaluate the merits of competing for a segment saturated with newer properties. It should be obvious that 5-10% of the population will not be able to sustain half the Strip.
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Old 03-15-2009, 05:37 PM
 
Location: Phoenix, AZ
108 posts, read 253,852 times
Reputation: 93
Quote:
Originally Posted by Thisissam View Post
Vegas is just not what it use to be. So many half built high rises and buildings like City Center just sitting there weathering away with no construction on, yes, weekdays. I remeber having to wait an hour at the check in line at the hotel before and now hardly 15 minutes if even that.

The crowd in the hotels and restaurants are thin. The gentlemens clubs are bout 2/3 empty by midnight and its just depressing. I remember waiting 90 minutes at 2am to eat dinner at a restaurant. Now I walk in and maybe 8-9 people there at 12ish and half the resraurants lights off.

So depressing to go to Vegas and the energy and excitement that was alwys there is now gone.

And honestly, who knows whether it will ever come back seems like its hayday is dying if not already dead. *sigh*
Hey, ya'll come on out to West Virginia. We don't have half built high-rises, we have fully built 2-3 story downtown areas that occasionally simply collapse into the streets. It's not a problem though. Nobody was in them or in the street either. Waiting in line at a restaurant? That would be 2nd in line at Dairy Queen. Waiting in line at a hotel? What hotel? They've all been abandoned for years now. Eating in the dark? What, you wanna SEE your food? Why? It's the same as last time! Nobody in the restaurant a 2 AM? McDonald's closes at 11.

Take it from a dead-town resident; Vegas has a ways to go yet!
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Old 03-15-2009, 06:06 PM
 
10,485 posts, read 22,554,889 times
Reputation: 6611
Quote:
Originally Posted by Thisissam View Post
Vegas is just not what it use to be. So many half built high rises and buildings like City Center just sitting there weathering away with no construction on, yes, weekdays. I remember having to wait an hour at the check in line at the hotel before and now hardly 15 minutes if even that.

The crowd in the hotels and restaurants are thin. The gentlemens clubs are bout 2/3 empty by midnight and its just depressing. I remember waiting 90 minutes at 2am to eat dinner at a restaurant. Now I walk in and maybe 8-9 people there at 12ish and half the restaurants lights off.

So depressing to go to Vegas and the energy and excitement that was always there is now gone.

And honestly, who knows whether it will ever come back seems like its hay day is dying if not already dead. *sigh*


I have noticed a definite decrease on the strip in particular But, I find it beneficial. It is not completely dead, there are still people out and about. I have found drink service is faster, I can get on tables easier, smaller lines like you said. All of these are great, nothing to complain about on my end.
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