In this week’s Vegas Seven, I consider whether the current good times in Las Vegas are here to stay:
Your odds would be much the same without a system, but there’s something to be said for the comfort of a system. You’re not at the mercy of blind fate; you are following a game plan and reaping the rewards. And when it no longer rewards you, well, sometimes it wins and sometimes it loses.
Source: How Long Will Las Vegas’ Hot Streak Last? | Vegas Seven
My original working title for this was “Is it 2006 again?”
In this week’s Green Felt Journal, I consider the importance of the recent sale of the Tropicana Las Vegas:
But lost in the Riviera/Resorts World news cycle was the announcement of another Strip milestone—one that may have more significance for Las Vegas’ short-term future: The Tropicana has a new owner, national casino operator Penn National Gaming.
Source: A New Era for the Tropicana? | Vegas Seven
With the Hooters’ sale last week, it looks like business is about to pick up on the South Strip.
I have the cover story in this week’s Vegas Seven. It’s a look at the final days of the Riviera:
But the Riviera, unlike the Fontainebleau, won’t go down in Las Vegas history as a failure. It was, after all, a Strip hotel that kept its doors open for 60 years. And in Las Vegas, that’s about as unlikely a winning streak as you’ll ever see.
The Last Days of the Riviera | Vegas Seven
This was a very difficult story to write. I hope I succeeded in trying to convey what the closing has been like for those who worked there, and why the place really does matter.
In this week’s Green Felt Journal, I share some insights from the latest Las Vegas Visitor Profile:
Increasing international visitation has long been a goal of the LVCVA, and the numerous investments the agency has made toward that end continue to bear fruit. In 2007, 12 percent of visitors came from abroad; in real numbers, this accounts for about 4.7 million people. Last year, that percentage jumped to 19 percent, which when factoring in increased visitation—we topped 40 million last year—translated into more than 7.8 million international visitors. That’s a two-thirds increase in seven years.
via Gambling Is No Longer Las Vegas’ Main Attraction | Vegas Seven
Looking at this year’s profile really drives home the demographic and behavioral changes in visitors to Las Vegas.
In this week’s Green Felt Journal, I talk about why the fall in gaming revenue doesn’t matter as much as it would have a few years back:
Once upon a time, an annual drop in Nevada’s gaming revenue was greeted with the same reaction of denial, fear and panic that might accompany the diagnosis of a terminal disease. In the natural order of the past several decades, Nevada casinos are supposed to win more every year than the last—and that’s usually how it went. So it’s noteworthy that Nevada’s casinos won less in 2014 than they did in 2013. But here’s what’s more telling: Nobody seems to care, and for good reason.
via Why Las Vegas’ Gaming Revenue Decrease Is Not a Bad Thing | Vegas Seven.
We’ve known that the Strip isn’t all about gambling for a long time, but I thought those numbers really illustrated why.
My latest Green Felt Journal talks about the history behind the federal tax on sports betting:
Like so much else in the history of Nevada gaming, the tax is linked to the Kefauver Committee, the early 1950s U.S. Senate body that investigated organized crime throughout America. Chaired by maverick Tennessee Democrat Estes Kefauver, the committee found that organized crime was indeed a national problem—a problem chiefly fueled by income from gambling operations. With state and local authorities unable (or unwilling) to prosecute gambling entrepreneurs to its satisfaction, Congress decided to fix the problem itself.
via Why Congress Should Repeal a Federal Tax on Sports Betting | Vegas Seven.
Always nice to bring some history into the discussion.
This week, I’ve also got a Vegas Seven feature on the 20th anniversary of the opening of the Hard Rock Hotel:
Twenty years later, it appears Morton saw into the future: You don’t see too many Nile rides in casinos today, but you do see quite a few Center Bars. This is the story of how the Hard Rock set itself apart from the rest of Las Vegas, and why Las Vegas has followed it
via The Rock Star: Peter Morton and the Birth of the Hard Rock | Vegas Seven
I think that Peter Morton really does deserve a great deal of credit for seeing just what was going to be popular in Las Vegas long before others did. I learned a great deal researching this one.
In this week’s Green Felt Journal, I take a look at what the Las Vegas Convention and Visitors Authority is actually going to do with the Riviera site:
Construction on the Global Business District is expected to begin in the next couple of years and unfold over the next decade. If executed along the lines currently planned, it will profoundly shape both the Strip and the Valley. No, it won’t have the glamour of a high-profile casino opening, but it’s destined to have a tremendous—and lasting—impact on the city for decades.
via LVCVA’s Unconventional Approach to Global Business | Vegas Seven.
This is truly going to change both the Strip and the city in ways that I don’t think we fully appreciate right now. Read the column to learn why.
In my latest Green Felt Journal, I take a look at the Riviera’s place in history:
If there were one property you could point to that has represented the evolution of our city’s casinos over the past 60 years, it would be the Riviera. So it’s only fitting that, in its final days, the hotel-casino is doing so again.
via Riviera Going Out as It Came In: A Symbol of the Strip’s Future | Vegas Seven.
I have a lot more than 700 words to say about the Riviera’s past and future, and I hope to be able to write more about them both soon.