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Long live Las Vegas
Recession worries, the housing slump, and high energy prices are doing a number on many business, but not on the Las Vegas strip. The New York Times reports in October alone, gambling revenues for some of the biggest casinos were up nearly 20 percent over the same time last year.
But gambling halls in other parts of the U.S., that rely mostly on middle-class consumers, aren't doing so well. In some places, revenues are actually down by more than 5 percent. In Vegas, one key factor for success has been China's hot economy with Asian high rollers spending record amounts of money in VIP lounges.
Posted on December 27, 2007 5:26 AM PT | Permalink
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