It is an interesting time in Las Vegas. In the midst of an extended economic resurgence in our country, the largest operators in Las Vegas have made public statements that they expect softness in their third quarter occupancy and room rates. They further suggested this softness is coming from the lack of events and conventions as when compared to last year.
In hearing these comments, I could not help but think back to what the various owners and boards of directors would have said to me if I had made such comments back in my days of running gaming resorts. I know one of my former owners, in particular, would have directly and with generous use of expletives asked what he had me for if I was relying on my competitors to feed my property business. I was expected to create business, take a few calculated risks, see the future and solve problems before they could become problems.
Times then were different though.
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