Word: vegasized
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With Las Vegas in the grips of its worst economy since the early 1980s, the storm that dumped four inches of snow on the desert metropolis in mid-December felt like piling on. The city's cocksure swagger is gone.
Gaming revenue in Clark County, which includes downtown Las Vegas and the Strip, is down 8.5% for the year, to $8.3 billion. But the revenue for October, the last month for which figures are available, is off an ominous 24.3% vs. the same month in 2007. Visitor volume is down...
The Strip's restaurants have seen a proportional decrease along with overall visitor traffic. David McIntyre, vice president of food and beverage at MGM Grand - which counts among its stable of high-end eateries such restaurants as Shibuya, Nobhill and a pair from French maestro Joel Robuchon - notes that visitors...
The recession is hitting Las Vegas on all fronts. Nevada legislators have struggled to close a deficit of more than $1 billion in the 2009 budget. Budget projections for 2010 and 2011 also look grim. Construction on Boyd Gaming's $4.8 billion Echelon resort was stopped last August just as...
A mile or two down the Strip, MGM Mirage just sold off Treasure Island for $775 million to billionaire casino operator Phil Ruffin. The cash infusion should help the corporation finish construction on its $9.1 billion CityCenter, the largest private construction job in the U.S. Yet even in the best...