Las Vegas' long weekend is over... But that's not the end of the line for an industry that has bright days ahead.
Perhaps never more than now, Las Vegas gaming is run by people that are extremely competent and can weather the storm. These companies are mostly well capitalized with good banking relationships, even if they may have to adjust projections that were made in better times.
They are often diversified - granted some more than others - but even if we were to see something like a major Chapter 11 bankruptcy, the great midway that is the Las Vegas Strip is going nowhere.
People always need a place to forget their troubles and relax, in good times and bad. No one is better at that than Las Vegas. The electricity that draws me and so many others to come again and again cannot be shut off - it's part of the American psyche. Yes, we'll see a 'correction'. The seemingly endless acceleration of quality, luxury and prices will slow even more or even be put on pause. That's okay and consumers will welcome the chance at a bargain. They'll see rates and rooms that could have been priced much higher only months before and when things swing back the other way, they'll have tasted the best Vegas has to offer and want more.
Those that believe in Las Vegas will not stop investing in it. That investment might not be a new multi-billion dollar golf course redevelopment project in the near term but you better believe all that remaining Strip land will be built out in the future - it's inevitable.
Right now, you can get some of the best deals we've ever seen on casino industry equity - yes, the companies are not all in the same spot financially and some are probably better investments than others but I think you can count on nearly all of them to head north of their current trading prices.
Personally, I'm sick of the doom and gloom stories. Let's work on fixing the problems and move on instead of harping on disaster.
This long weekend may be over - and there may be a hangover - but the weekend will come again.
I'm betting on Las Vegas.