Quote:
Originally Posted by Locke
I've always wondered what makes people say that Vegas is an 'economically challenged' city.
I go to Vegas about once a year and trust me, if there was a hockey team there I'd go more, but Vegas is far from economically challenged.
You make a good point, the majority of Vegas' wealth is in the hands of a few, perhaps fewer than most cities of comparable size.
But when I was in Vegas I kept hearing people talk about 'Vegas is hurting' and 'profits are down.'
Well...yeah. Imagine Las Vegas as a system, that system was built to withstand unbelievable throughput, not every hotel can be filled to capacity all the time, not every seat at every gaming table can be filled every day all the time, the system is just too big for that.
So when people say 'Vegas is hurting' and 'profits are down' they arent entirely wrong but its relative to their standards.
The Casinos are still raking in cash, they're making astronomical profits but they arent operating at 100% capacity and if thats their standard then yes, they're a long ways from it, but they're in no danger of going bankrupt or anything they're just not making as much money as they can or that their owners would like.
I wouldnt consider that hurting or challenged, thats just life.
And hell, as I was saying about hotel rooms and gaming tables, what do these businesses want? More people.
Guess what a hockey team will bring in?
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I think a lot people see parts of north Las Vegas and assume all LV like that, minus the strip.
The reality of LV is that it has affluent & poor neighborhoods, same as any large city. However, LV also has the Strip & oodles of people coming and going to that area all the time, leaving their money there too.
Yes, LV may be hurting in that the economic downturn has affected everyone in the USA, but people there aren't starving. It's all relative. They did get 10,000 season ticket deposits.