 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
|
Gaming News
Economist: Las Vegas Growth to Dwindle Due to Lack of New Megaresorts12 December 2002LAS VEGAS – As reported by the Associated Press: “The Las Vegas Strip can expect only slow to moderate growth in the near future due primarily to the lack of any new megaresorts, which fueled most of its success the past decade, an economist said Wednesday. `Growth in visitation has been dependent on the amount of new tourism interests, including new casinos,’ said Bill Eadington, an economics professor who directs the Institute for the Study of Gaming at the University of Nevada, Reno. “…Eadington acknowledged the significance of Mandalay Bay building a new convention center, the planned expansion of the Venetian and a blueprint for a new fashion mall. “…Casino assets on the Strip grew from $5 billion in 1990 to more than $20 billion in 2000 thanks to the opening of Mandalay Bay, Venetian, Bellagio and Paris, he said. “…Eadington said casinos in downtown Las Vegas continue to struggle. Like Reno, it `lacks the ability physically to offer some of the same things big casinos on the Strip do.’…” |