I actually think Vegas can still fulfill a very successful niche. People enjoy hustle bustle, live events, a feeling of "safe chaos". There was a promise made for travel there. Yes we are the house and the house always wins. But here is cheap good food, a nice place to stay you normally couldn't afford, a chance to see an entertaining show of a favorite star, or a riske show, or Circe or a comedian. We will make you feel important for 3 days or a week.
That's gone now. The private equity bean counters won.
But that also doesn't mean it can't come back. And it wouldn't take much either. Return the buffets, return the better odds, Return the pricing. Red Rick casinos just reported an 8.2% revenue increase. Boyd is set to do the same. It's the strip and Freemont that are committing suicide.
No one has talked about how the place is double or triple the overall size that it was 20-30 years ago.
And it has been exponential growth. I think it is likely 25-50 percent larger than a decade ago.
In the U.S., no one stops anything based on rational economic analysis or even common sense. Stops happen when real declines occur. Kind of like a dumb dog who eats until he/she throws up, wags its tail, and eventually overeats again.
The oldest and weakest places will die off and capacity will shrink.
The cure for high prices is high prices, and the cure for low prices is low prices, as they say in the oil industry.
There is more interest in giving the locals more things. The shit places like Circus Circus will get imploded and we may see those places not being replaced by new hotel/casinos but possibly by more entertainment and shopping that would be of interest to locals and tourists. It ain’t going to become a ghost town.