Las Vegas is more than a city, more than a metaphor. It is a gambling and tourism juggernaut that seemingly lives by its own rules. But time and again, circumstances have demonstrated that the city’s casino industry is not immune from the laws of economics. This summer has seen a slowdown of many of the city’s indicators of economic health, with troubling repercussions for casino stocks. So the question is, can Las Vegas resort operators rediscover the equation that helped Sin City rise to the top in the past?
There were many factors that put Las Vegas on the map as an international destination and have kept it there, but essentially the Las Vegas equation for success comes down to the balance of two forces: novelty and access. This was true in 1950, 1990, 2010, and remains true today.