UNLV History Chair Hal Rothman has written an interesting article for the Las Vegas Business Press on what is coming in the Vegas gaming industry.
It is a recommended read.
Hal Rothman at LV Business Press
Thanks to detroit1051 for pointing this out!
Categories: Business of Gaming, Downtown Las Vegas, Las Vegas Strip
Very interesting. This addresses some of my earlier questions about market saturation over there...
"With 130,000 rooms, 83 percent of them filled nightly (a significant decline since the 1990s that results not from flagging interest in the city but from the pace at which the variety of supply is increasing)"
That seems impressive, even if it's down.
good read. But past performance does not guarantee future performance. My personal view of expansion (not that it means much! :) is not as optimistic as the author's. Throwing caution to the wind and adopting a "build it and they will come attitude" at this point in Vegas history is a bit dangerous. This is not the same situation as back in '89 when the Mirage opened up. Not even close.
Room for expansion? sure....IF demand starts to catch up to current supply. 83%, while impressive in a general sense, is not exactly a mandate for more rooms. Building thousands more rooms without a demonstrated market seems like bad business. Even if "they" eventually come...the lag between available rooms and demand could be devastating to new and existing resorts.
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