[Willy702]

Originally Posted by Caltovegas

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.

The reporting of taxes is very weak, but the fact that one is supposed to report gambling winnings and losses could be a minor impediment. How much one wins is only reported for big slot/video poker wins and anytime you hit something with a 300 to 1 or greater payout such as in horse racing or a longshot parlay in sports. Jackpots and drawing type prizes are only way table games or poker generate a W2G, outside the 300-1 payouts one sees on some of the hybrid table games.

Otherwise there are just cash transaction reports which mean little. Foreigners get out of reporting on them easily. What tax consequences do matter are lower tax rates on gaming win for the casinos. Its how they convince an Asian player to fly to Vegas instead of the shorter trip to Macau or Singapore. Nevada gets 7% of the gaming win, Macau gets 40%, Singapore gets about 15%. The host will build this math into their rebate and comp offers to players. If someone is likely to lose $5 million in a weekend, this equates to millions in less taxes for the casino and they gladly give some of it back to the player just for agreeing to get on the longer flight.

[irishspy]

The other thing that looms in the back round for Las Vegas is the cost of air fare and how the air lines rake the consumer over the coals to fly here. The cost of fuel and all of the Tax and Fees ( which are a tax) prices many folks out of visiting here. The air line industry is one of the most mismanaged industries ever. Transportation to and from Las Vegas will be a game breaker in the next ten years and hopefully it can get some resolution to it. This is what damaged Atlantic city you could get on a bus in NYC for $20.00 round trip and get $20.00 from the casinos free to gamble with and rooms were dirt cheap. A bus was leaving every hour 24/7 for Atlantic City back in 2007 and 2008. The gas prices zoomed up and poof the people stopped going because of the increase price to travel. Atlantic city is still struggling and will not reach their old growth until they also get better transportation. NYC was to Atlantic City as LA is to Las Vegas. Anyone have a response to this $64.00 dollar question????

[BBMW]

As an American guy, I could see flying to Tokyo for Japanese women.

Originally Posted by von949

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

[Datafeed]

Originally Posted by mchlkirk7

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!

Lol...no offense but PHd economists are often more wrong than right...they always use a backward looking model to analyze the future so the analysis is not very predictive.

[Datafeed]

Originally Posted by von949

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

LV is unique and its spirit and energy are not captured anyplace else. Macau is an awful impersonation...the Chinese version has no soul.

That being said, Macau imports hot Eastern Euro women to staff the resorts now. A girl i used to date works there as a hostess and makes very good money showing mainland folk around.

If eurovegas ever takes off--which i doubt it will--the novelty of it will cut into vegas big time. vegas is pretty cool to visitors, but eurovegas will be cooler and allow virtually anything at lower prices because Spain is so broke Adelson can buy whatever laws he wants there.

[Datafeed]

Originally Posted by irishspy

The other thing that looms in the back round for Las Vegas is the cost of air fare and how the air lines rake the consumer over the coals to fly here. The cost of fuel and all of the Tax and Fees ( which are a tax) prices many folks out of visiting here. The air line industry is one of the most mismanaged industries ever. Transportation to and from Las Vegas will be a game breaker in the next ten years and hopefully it can get some resolution to it. This is what damaged Atlantic city you could get on a bus in NYC for $20.00 round trip and get $20.00 from the casinos free to gamble with and rooms were dirt cheap. A bus was leaving every hour 24/7 for Atlantic City back in 2007 and 2008. The gas prices zoomed up and poof the people stopped going because of the increase price to travel. Atlantic city is still struggling and will not reach their old growth until they also get better transportation. NYC was to Atlantic City as LA is to Las Vegas. Anyone have a response to this $64.00 dollar question????

Another thing is the draconian tactics and unfriendly demeanor of US Immigration and Customs officials. These people need to be smiley and serve as ambassadors of our ethos instead of being dour and mean law enforcement officials.

Foreigners are often scared of US immigration and customs officials and their arbitrary actions. The average Chinese tourist spends 7000 in his or her few weeks here. us visa policy is complicated, demeaning, and expensive. The people that can afford to come to vegas from abroad and party are often well off. When an Emirate (Sp?) comes to vegas he needs to be treated politely instead of like a member of Al Qaeda.

We are getting out flanked and out "Americaned" by other nations when it comes to tourism and hospitality.

[Marv101]

I believe Steve Wynn recently stated that 70% of his company's gaming revenues come from overseas, with Macau being the current hotspot.

[Willy702]

Originally Posted by Marv101

I believe Steve Wynn recently stated that 70% of his company's gaming revenues come from overseas, with Macau being the current hotspot.

His casinos are currently in LV and Macau. So pretty easy to figure out his math. His only other market in play is Philly where he is seen as the front runner for a city license. Don't think its going to change his business much if he gets it.

[Willy702]

Originally Posted by Datafeed

LV is unique and its spirit and energy are not captured anyplace else. Macau is an awful impersonation...the Chinese version has no soul.

That being said, Macau imports hot Eastern Euro women to staff the resorts now. A girl i used to date works there as a hostess and makes very good money showing mainland folk around.

If eurovegas ever takes off--which i doubt it will--the novelty of it will cut into vegas big time. vegas is pretty cool to visitors, but eurovegas will be cooler and allow virtually anything at lower prices because Spain is so broke Adelson can buy whatever laws he wants there.

Euro Vegas won't affect LV much. People from Europe want to visit the US for cheap shopping and landscapes and attractions they can't get at home. Think of the fake Eiffel tower at Paris LV, does anyone say I don't need to visit Paris because I saw a half version in LV?

[brdd]

Think of Las Vegas as a product. And like any other product, it must be sold to the consumer. Many people think only of gambling when they think of Las Vegas. They don't realize that Las Vegas is a great vacation spot even if you don't gamble. With so much to do here, I really believe that a national promotion touting the many attributes of this area would do much to help the area bounce back.

Many who have a negative perspective of Las Vegas have never been to Las Vegas.

Is cheap food gone? Not entirely.
Are cheap rooms gone? Not entirely.
Are there many non-gaming things to do in the area? Absolutely.

Get 'em out to Las Vegas just once, and show 'em a good time, and maybe they'll be back.

I should know. I've been come to Las Vegas since the 70s.