[Degenerate Gambler43]

Quote:

"Time will tell if these two cities will end up like Detroit. However, the fact that they are losing their biggest industries to major competition, much like Detroit did, with depressed housing, casinos bankrupting/closing and businesses fleeing, makes their fate seem eerily similar."

End Quote:

The next Detroit? Atlantic City and Las Vegas facing catastrophi - New York News

peace & degenerate blessings for the holidays Ya'll!!!

DG 43

[BBMW]

Vegas and AC are vastly different animals. AC was east coast expedient gambling. Many of the casinos are actively dumps that would have been imploded in Vegas years ago. With PA already allowing gambling, and NY opening up soon (although not as soon as some think), the demand for expedient gambling in AC is dropping precipitously, and will continue to do so.

Vegas gambling is built around destination resort casinos that are major attractions in and of themselves. Vegas has managed to maintain, and even expand it's attraction as gambling has expanded across the country. This has been going on for the last twenty years.

[UTES]

It's like the author of the article wrote it during the initial "bust" of the Recession and never kept himself informed of progress. His info and stance on Las Vegas, as it is now, is erroneous.

Bill

[Willy702]

The level of decay which hit Downtown up until the Zappos era began could kind of be compared to what happened to the city of Detroit. People with money moved out and the stores and services left with them as places which were once distant from the original city became the new centers of economic activity. Things are finally changing for the better around Downtown, but some of the things you hear about in the City of Detroit apply as well, such as no grocery stores, unsafe housing, mediocre or bad public services and the like. So in effect you could say this story is a decade or more old, its just no one lamented the deterioration of the Las Vegas core for good reasons.

[NLVgal]

This town's demise has been predicted many times before. Somehow, we're still standing.

[Caltovegas]

To some extent I can see what the article is saying. Look at it this way. What would Vegas be like if the other casinos never opened? Then consider the youth of today. Give them technology and why go to Vegas?

[BBMW]

Note how the kids are driving the club/nightlife market. If they don't come for the gambling, they come to party.

Originally Posted by Caltovegas

To some extent I can see what the article is saying. Look at it this way. What would Vegas be like if the other casinos never opened? Then consider the youth of today. Give them technology and why go to Vegas?

[lvoc]

It is amazing. What does the number of houses underwater in Nevada have to do with how well the strip works? You look at visitors and revenue...not the number of REOs in NLV.

This is typical Fox BS. They never get anything right.

And what has Detroit got to do with this. They crashed on the shift of the auto industry out of Detroit and not much else. They have lost over half their population. Las Vegas grows.

Pure BS and a yard wide.

[eastmemphisguy]

Neither is even close to size (relative to the country, as a whole) of Detroit at peak. Detroit was the 5th largest city in the country in 1950. Imagine if a practical substitute for oil is invented, and, as a result, Houston was completely decimated. That would be much more comparable to what happened in Detroit.

[Willy702]

Originally Posted by eastmemphisguy

Neither is even close to size (relative to the country, as a whole) of Detroit at peak. Detroit was the 5th largest city in the country in 1950. Imagine if a practical substitute for oil is invented, and, as a result, Houston was completely decimated. That would be much more comparable to what happened in Detroit.

Still 4.3 million in the Detroit region today, over 1 million more than in 1950. Not like the place and it's people disappeared. They just moved.