We’ve all seen the nonstop headlines claiming “Las Vegas is in Freefall” “Vegas is Dying” and “Vegas is Finished and Will Never Recover.”
All of which is a gross exaggeration.
First of all, Vegas is plenty busy- just like always. Just a little less busy than last year. Revenues are down single digits from last year- which was one of greatest years in the history of Vegas.
Well, to accountant types, all growth must continue and in fact increase, regardless of circumstance. Which is a decent reason to beat accountants to death with clubs.
But compared to last year (the best year in history) business is down this year, and Vegas casinos are laying off employees. That part is true.
So, what exactly is happening? Why is business down this year? The mainstream media would never understand this, but this is another classic case of Republican success versus Democrat failure.
Not all of Vegas is down. Only the Vegas Strip is down. The off-Strip and suburban casinos and hotels in Vegas are booming. Why? What’s the difference?
The reason why is simple. All the major resorts on the world-famous Vegas Strip are owned and operated by Democrats — mostly Ivy League-educated Democrats from Wall Street, who know nothing about gambling or tourism.
And here’s the good part:
MGM is run by Democrats. Caesars is run by Democrats. Harrahs is run by Democrats. Wynn is run by Democrats (since they ran brilliant Republican billionaire Steve Wynn out of town). Even Venetian sold out to Apollo Global Management based in New York, since the death of brilliant Republican billionaire Sheldon Adelson.
Not only are the Strip casinos run by dumb, clueless Ivy League Democrats, but most of them sold the land under their casino-resorts to Blackstone- Wall Street firm that now charges them obscene annual $100 million to $300 million land lease charges.
But the off-Strip casinos and resorts are almost all owned and operated by Republicans.
Station Casinos is booming- the Republican Fertitta family owns them. The downtown Golden Nugget is booming- it is owned and operated by Tillman Fertitta- a Trump Republican who is now President Trump’s Ambassador to Italy. Boyd Casinos are booming. They are run by the Boyd family- who gives mostly to Republican candidates and PACS. South Point Casino is booming- it is run by the Republican Trump supporter Michael Gaughan.
And the details:
The Vegas Strip resorts run by dumb, clueless Democrats from New York are all charging rip-off rates. Parking your car is now $50 at any Strip hotel. Two martinis cost $80. A nice meal costs $500. Resort fees will run you up to $100 extra a day on top of room charges. At MGM properties a bottle of water in your minibar might cost you $25. And here’s the craziest rip-off of all: MGM (run by a bunch of dumb Democrats) now charges $25 extra for room service if you want knives, forks and napkins.
Putting Manhattan cost structures into a Western desert town.
On the other hand, at any of these off-Strip and suburban resorts owned and run by Republicans, the parking is free, the meals are reasonable, the room rates are inexpensive, and they have movie theatres, bowling alleys, food courts and babysitting. Anyone can afford a fun night out on the town! It’s still like “old Vegas.”
I have to stipulate at this point that I cannot stand Las Vegas: Strip, off-Strip, suburban, whatever. Every time I go there — once because I’d never been there before, the other times on business or to attend a conference — I couldn’t wait to leave, couldn’t wait to get on the plane, get in the car, whatever. Nothing about the place attracts me, and just about everything in the place repels me. In my own parlance: I’d rather watch an F1 Grand Prix race at Spa Francorchamps, in the chilly rain, than the one in Las Vegas.
But as a case study in how to screw up a good thing, modern-day Vegas is surely an excellent example. As Wayne Root memorably puts it:
Personally, I preferred the Mafia. They knew how to treat customers.



