“Party Over” for Las Vegas, Says The Economist
The world’s premier economics journal, The Economist, recently profiled the economic troubles in Las Vegas, and the verdict ain’t a happy one for Nevadans.
Las Vegas has been in a deeper economic slump than the rest of the U.S. for years now, as has been reported here at CAP News and elsewhere. But The Economist’s report goes beyond that conventional knowledge by wondering if Vegas will ever fully recover.
“The question is whether there will ever be a complete recovery, or whether something more fundamental has changed, threatening the existence of places that rely directly or indirectly on gambling,” The Economist article states, citing Nevada’s lack of income tax as one byproduct of its gambling focus that may have to end.
“Tourists are now returning, but in numbers too small and with mindsets too cautious to help Las Vegas much: they are spending less on each visit than before the bust.” All the worse, the article argues, because even Vegas’ current rock bottom prices aren’t helping the tourist influx.
Could this downward spiral help prove the old theory that online gambling affiliates stand to gain when Vegas is losing? It seems so. After all, Internet gambling numbers are on the rise, even as Vegas suffers.
That could be coincidental, but either way, the message is clear: It wouldn’t hurt for online casino affiliates to focus their marketing plans on the benefits of gambling at home, since more and more Americans are showing that they prefer to do just that.