Adam Nagourney on the shift underway in Las Veags:
In 1984, the city’s sprawling casinos accounted for 59 percent of all the money collected on the Strip. Last year, gambling made up just 36 percent of the revenue. Clark County, which includes Las Vegas, took in $9.4 billion in gambling revenue last year, up from the year before but still far short of the $10.8 billion during the peak year of 2007, according to statistics from the Center for Gaming Research.
So what are people doing instead?
“Gaming went down more than total visitor spending, by a greater percentage,” said Stephen P. A. Brown, the director of the Center for Business and Economic Research at the University of Nevada, Las Vegas. “The visitors who have come back are here for clubs and shopping. They’re buying swimsuits to go to the day clubs and evening clothes to go to the nightclubs. That’s the big growth.” “I think what’s going on here is we’re seeing a shift away from Las Vegas as the only gaming destination in the United States to being one of many gaming destinations,” Mr. Brown said. “But it is holding up as a tourist destination.”
Shopping. What would Bugsy Siegel think? At least they’re still drinking.