Word: casino
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...Goulet about it on three hours of sleep. "You beggar, it's not Sin City," he says. "It's Fun City." The lounge singer has a point. It's a Vegas where the average tourist gambles only four hours in a four-day stay. That's fine with the casinos, since today they make more on rooms, food, drinks and shows - what they used to give away to get you to gamble. Vegas doesn't have to give anything away right now. It's so hot, even the people who own the town are spending money here. Last month...
...week that its second-quarter profits nearly doubled from 2003. According to Joseph Greff of Fulcrum Global Partners, room rates in top hotels on the Strip are up 40% from the same period last year, but the increase didn't stop occupancy from zooming to 95%. The city's casinos, hotels, restaurants, shops and clubs took in a record $32.8 billion in 2003. Vegas is the fastest-growing major U.S. city; 7,000 people move to Clark County each month, bulging the population to 1.6 million and overstretching the police, fire fighters, hospitals and schools. The unemployment rate is more...
...owners of Palms Casino Resort, which opened at the end of 2001, decided to aim even younger. The Maloof brothers, who also own the Sacramento Kings basketball team, built the Palms off-Strip and gave it no theme, figuring Vegas visitors would find out which hotel fit their demographic. (Wynn will also be unthemed, as will the Palazzo.) "I wanted to make sure I cultivated young Hollywood," says George Maloof, 40, the brother who runs the hotel. "In the '70s, '80s and most of the '90s, Hollywood didn't really come to Las Vegas except for a big fight...
...transaction marks the end of an ambitious year of expansion for Loveman’s Harrah’s. The company has also acquired Horseshoe’s Gaming Holding Corp. and Binion’s Horseshoe Hotel & Casino in Las Vegas over the past 12 months...
...meteoric rise to the top of the casino world, Loveman has drafted a few strategies from his business school years...