Clusterstock had a story out this morning that said "Las Vegas Is A Total Wreck." They also said that Las Vegas was "a good barometer for the mental and financial state of the American consumer."
Oh it is?
Where do they get this analysis?
40 million people visit Vegas a year, and they come from all around the world. What makes Vegas a good barometer of the American consumer?
If Vegas is a barometer of the American consumer, then it means that the average American will wait an hour in line for a seafood buffet at the Rio that costs $40, drive a motor home, is over 50, and they're not high rollers at the casino tables but instead, they get their thrills from the slots.
Go ask Harrah's, or MGM and get the demographics from them on their reward program--and then you'll know who is visiting Vegas.
At least lately.
After all, who is watching Donny and Marie Osmond at the Flamingo?
Vegas has gotten busier, but it just hasn't become flashier lately--and that's the difference in the latest upturn. And these folks, aren't big tippers, and Vegas lives on tips.
But the Vegas pretenders will be back--they just need to get a job first.
After all, if couples are staying together instead of divorcing because of finances, does anybody really think these folks are going to have a jaunt out to Vegas?
And those folks, of course, are the most profitable Vegas customers. They're just in hiding, but they are already itching to make a comeback.
But Clusterstock wouldn't tell you that side of the story. Because if Vegas is a total wreck, then they've done a pretty good job with the car in the auto body shop!
But they had a different agenda.
They wanted you to sell MGM and LVS today!