Can you guess the year that an article appeared in Forbes magazine with these quotes?
— “Las Vegas is showing signs that it is becoming overbuilt.”
–“With traffic growing more slowly than capacity, older casinos have been hurting. Atlantic City casinos fared much worse last year.”
— “Steve Wynn put it this way: ‘The old formulas don’t work anymore. Customers won’t come just to see a Sinatra. You’ve got to give them an entire resort experience with spectacular scenery.”
–“Nevada Gaming Board [sic] data show that 42% of Las Vegas’s casinos were unprofitable last year. Casino bond issues totaling $612 million are in deafult with a number of others on shaky ground.”
Read after the break for the answer….