[dude66]

May 5, 2008

Down on Its Luck
Las Vegas used to be a recession-proof oasis. Not anymore.

"So far this year [gambling revenues] have fallen 4 percent, the number of conventions held has dropped 10.4 percent, and average daily room rates were off 3.8 percent in the first two months of 2008, according to the most recent data available."

whole article:

Economy: Recession Hits Las Vegas

[MomMom]

Originally Posted by dude66

May 5, 2008

Down on Its Luck
Las Vegas used to be a recession-proof oasis. Not anymore.

"So far this year [gambling revenues] have fallen 4 percent, the number of conventions held has dropped 10.4 percent, and average daily room rates were off 3.8 percent in the first two months of 2008, according to the most recent data available."

whole article:

Economy: Recession Hits Las Vegas

WHO to believe?

http://view.email.gmgvegas.com/?j=fe...64047a771c7272


Convention attendance, tourism in Las Vegas up - Las Vegas - MSNBC.com (broken link)

[Tymberwulf]

Ah numbers. Got to love how they use them to make whatever spin they want to give to the story sound official.

Notice that Newsweek talks about the number of conventions while MSNBC talks about the number of attendees.

I'm sure the folks that do the number crunching see a bit of a decrease in profits, but does that mean Vegas is in trouble? Probably not.

Some folks will have to tighten up the spending habits a bit, some folks (like me) will take advantage of the weak economy, and some folks will continue to spend like there is no tomorrow. All and all I don't see Vegas getting hurt to much. Now here in Honolulu.... yea, with the loss of Aloha and ATA, I see them taking a hit this year profit wise.

[J0B00]

NAB lost a lot of visitors this year because Apple and AVID didn't exhibit...I'm sure they weren't the only ones to pull out of the convention either. They should have given more examples.

[Buzz123]

Ah yes. Newsweek has always been the last word on Las Vegas. If you believe anything that rag says you should have your head examined. I did. Got an MRI on my head and they found nothing.

[dynimagelv]

Newsweek ranks right alongside the LA Times for acccuracy in reporting RE: Las Vegas.

[sheriff]

Originally Posted by J0B00

NAB lost a lot of visitors this year because Apple and AVID didn't exhibit...I'm sure they weren't the only ones to pull out of the convention either. They should have given more examples.

Not only did NAB suffer-------MAGIC, a twice year show in LV since 1989, will condense from FOUR days to THREE days in August.

[shane34lv]

Originally Posted by Buzz123

Ah yes. Newsweek has always been the last word on Las Vegas. If you believe anything that rag says you should have your head examined. I did. Got an MRI on my head and they found nothing.

It seems they hit the nail on the head here, still think everything is doing just fine in las vegas? If so maybe it's you that should get your head examined.

[shane34lv]

Originally Posted by Tymberwulf

Ah numbers. Got to love how they use them to make whatever spin they want to give to the story sound official.

Notice that Newsweek talks about the number of conventions while MSNBC talks about the number of attendees.

I'm sure the folks that do the number crunching see a bit of a decrease in profits, but does that mean Vegas is in trouble? Probably not.

Some folks will have to tighten up the spending habits a bit, some folks (like me) will take advantage of the weak economy, and some folks will continue to spend like there is no tomorrow. All and all I don't see Vegas getting hurt to much. Now here in Honolulu.... yea, with the loss of Aloha and ATA, I see them taking a hit this year profit wise.

Yeh man vegas didn't get effected at all by this recession!! Good foresight bro let me make sure i never ask you for any stock tips

[ClarkGrisowld]

Avg attendance and number of conventions are both less than perfect indicators....how you should look at that is total room nights for conventions and total room revenues (not sure the latter is reported).

Room revenues are now the big nut that drives Vegas - approx 40% of revenues (in-line with gambling revenues) at very high margins. At least, it was at the peak (at $300 a night, these guys have 75-80% profit margins on rooms, vs. maybe 20% on gaming). That there is NOT a recession-proof industry.