Las Vegas Hit Hard By Economic Slowdown

Its been a tough year for Las Vegas and the month of October was no exception as gambling revenues slipped further. The number of visitors was down a little over 10% from the same time last year. The most troubling sign is not that there are fewer visitors but that these visitor are spending far less.  Gambling revenue on the strip declined 26% or $475 million. Gambling is always thought to be recession proof much like drinking but the people who visit Las Vegas now are not the same as those who used to visit during the 60’s, 70’s or even 80’s.  One of the ideas being thrown around to give a lift to Las Vegas is lowering the legal gambling age, this is however probably a long shot.

In a sign of the times Las Vegas Sands has slashed $6.5 million in bonuses and also annouced they are cutting over 200 jobs just before Christmas.

All this is terrific news for those planning on visiting in the next 12 month as there will bargains all over the strip, If your planning on staying in a 3 star hotel you can probably upgrade to 4 star or 5 star. As we posted in the Las Vegas Travel Deals, Binions has rooms for $10 on  Dec 24,25