Las Vegas, in United States of America, is considered to be the haven for gamblers and is often referred to as, “The Gambling City Of The World”. Las Vegas hotels are unimagineable without the casinos. The casino culture in Vegas thrives on the adrenaline rush that people feel when they step into the land of freedom and sin. This is not to say that there aren’t any other forms of entertainment in the city, but gambling is literally in the air when you are in Vegas. If you are on a winning streak, the sky is the limit in Vegas! And when you want to take a break from gambling, there are always things like concerts, acrobatic shows, nightclubs and rocking parties to have fun with.
The recessionary woes
Over the past few years as the gambling industry took a big hit during the great financial recession of 2007-2008, a lot of casino business moved to Macau in China. With revenues burgeoning in Macau everyday, it has now become six times the size of the gambling industry in Las Vegas. Some even started calling it, “Vegas on steroids.” At one point of time there was even a question whether Las Vegas would survive the hit and revive its gambling industry or would it die out to competition that looked bigger, better, and not to mention cheaper in an Asian country.
In order to survive, many casino owners opened sister businesses in Macau along with the existing ones in Las Vegas. The business in Macao loomed large gradually, and business analysts turned their attention to the Macau market instead of Las Vegas, thanks to its failing revenues. Many grand constructions, which were planned in Vegas came to an abrupt halt as owners and developers were no longer sure of their flowing source of funds had been stalled particularly towards the last part of the Strip in the north. Most of these projects were stopped when the downfall in the economy took place.
Regeneration of Las Vegas economy
However, the recession served as a wakeup call for the city of sin, and it knew that it could no longer base its revenues solely off of the gambling market. Make no mistake, gambling is not going anywhere anytime soon. It is still a major source of revenue for the city, but what the city has done is slightly remodeled itself. What you find now are more wholesome sources of entertainment and higher quality restaurants and clubs. Restaurants are far more family friendly than they were in the 90′s.
The main attraction in luxury hotels are not just the casinos anymore. You will now find day clubs on the Strip, pools that can be used for parties and night clubs at night which also provide entertainment for those over 21 years of age. These hotels also include VIP concierge services and city tours for the tourists in luxurious limousines. Thus, Las Vegas is once again fast moving away from its previous adage, “gambling capital of the world” and now to the, “entertainment capital of the world.”
Presently, Las Vegas is at its best. Over the past five years, Las Vegas has fallen and risen from the ashes like the proverbial phoenix. Tourism trends have revived once again and one mega club after another is vying for the attention of tourists with new amusements and attractions every day.