http://news.yahoo.com/s/ap/20080406/ap_on_bi_ge/casino_comps
My Take: I always love it when a writer choses ATLANTIC city to be representative of the Casino industry? They made $$$ when NYC was there and they were the only ones to get NYC $$$. While that city sees Y-Y declines or flat revenue (from gambling) other markets climb Y-Y and new markets open up.....Talk about pathetic.
The real issue here: With the economy going into the toilet do comps go up or down in Vegas/other areas in 2008? Your opinion?
I personally think they go up SIGNIFICANTLY as people's disposable cash flow is getting crushed right now. Eventually people will figure out that, they need to get people there for them to spend $$$. Hotel room prices need to come down, more freebies need to happen and, with airline prices being through the roof, it wouldn't surprise me to see NEGATIVE or very concerning numbers from Vegas within 3-6 months.
Alot of tourism comes from CA in Vegas. Well, last I checked that economy and FL were getting crushed as people can't use their homes as an ATM anymore.
Dan Ross
http://BetterBizBooks.com/
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