The complex Vegas story in LVBP

It’s not every day that venting about the frustrating aspects of your job leads you to a column. But if you read my piece in the Las Vegas Business Press, you’ll see how I use some misconceptions about Las Vegas as an opportunity to set the record somewhat straight:

Recently, for example, I received an e-mail for a U.S.-based correspondent for a respected foreign publication who wanted to know whether the rumors were true, and that Las Vegas would soon be closed because of the poor state of the economy.

via Las Vegas Business Press :: David G. Schwartz : Beyond the headlines, real LV story is complex.

For some reason election season put me on a lot of foreign correspondents’ radar, even though I almost never talk politics. I don’t envy those who have to quickly dial into a complex situation and summarize it for a general audience at all.

Still, the idea of Vegas closing down made me think of the end of National Lampoon’s Vacation.

Author: Dave

Director of the Center for Gaming Research at the University of Nevada, Las Vegas and author of several books, including Roll the Bones: The History of Gaming. Also Gaming and Hospitality editor for Vegas Seven magazine.

2 thoughts on “The complex Vegas story in LVBP”

  1. Ignorance of the foreign press is, however, understandable. Foreigners have certainly heard of a few hotel closures, a few bankruptcy proceedings and a few newly-opened, massively expensive casinos that have had disappointing results.

    That some central authority exists to shut down the entire city might not be alien to foreign lands. I don’t know much about gambling in the UK, but I do know they spend all their time drinking tea, driving on the wrong side of the road, being murdered on country estates under circumstances solvable only by Miss Marple and talking about Piccadilly Circus even though there are no elephants there.

  2. Las Vegas is a difficult story for “parachute” journalists to figure out because there is nothing like it, except maybe Macao which has grown rapidly the last 5 years or so. $35.2 billion dollars was spent in Las Vegas in 2009 which comes out to close to $3 billion dollars a month. The problem is City Center cost $8.5 billion dollars to build and Cosmopolitan cost $3.9 billion dollars to build. It is hard to make a profit when a hotel/condominium/casino complex is that expensive. Both projects are very nice they just cost to much money to build.

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