Downtown as an example in the LVBP

A while ago I posted that report on Nevada gaming revenue trends from 1984 to 2010. I decided to write an extended opinion piece about one facet of that report for the Las Vegas Business Press (not the Las Vegas Journal-Business Review):

In general, the past quarter century has been good for Nevada gaming: revenues increased by 231 percent from 1984 to 2010, outpacing the inflation rate for the period (about 116 percent).

Downtown Las Vegas casinos, though, haven’t shared (collectively) in that bonanza. Since 1984, revenues have increased by only 10 percent, not even close to keeping up with inflation.

via Las Vegas Business Press :: David G. Schwartz : Downtown LV has lesson for gaming: adapt or ail.

I think what has happened to Downtown Las Vegas (and much of Northern Nevada) is what’s in the process of happening to Atlantic City. I had an nice email exchange with Wayne Parry of the AP about Atlantic City’s prospects that continues some of these thoughts–hopefully it will turn up in a piece he’s working on. I might post my thoughts here, too.