THE CASINO INDUSRTY IN LAS VEGAS DOING THEIR ALL TO KEEP THE TOURISTS COMING

Implications: The benefits to the Nevada casino industry to offer more incentives for both tourist and locals to return to past numbers is vital. The business downturn has taken a toll on all properties. The thought of sitting on their hands to see if business will return on it's own will not produce results. It is an industry wide dilemma that needs to be addressed. 

Analysis: There is no need to tell anyone that there is a recession, downturn in business, depression or any other name you might like. It's a matter of trying to keep business on the most even keel possible during this disturbing period. Will the gaming industry survive this period? Yes, this is one of the most vibrant industries - it has always rebounded from these type of markets downturns. Will they be able to recover all the dollar losses during this low time? - not necessarily. The thought, is not to recoup at this point, it's to try and maintain their position in short term. Most hotels are offering different incentive for their customers to make it more palatable for them to return to their favorite casino. I have see offers of gasoline vouchers, room rate reductions, food and beverage discounts and entertainment specials. Some Las Vegas strip properties have even given special rates for locals to come and vacation at their hotels instead of traveling out of town. There is no doubt that these offers will help, however, some of the higher end properties, though offering special room rates are still on the top end of the pricing spectrum.

I am not sure that anyone has any real answers for poor business outlook. I am fully in accord with the properties doing all they can to help bring tourists to Nevada. Remembering that this is not just a problem in Nevada - other venues are doing some of the same ideas to try to increase their bottom line. These incentives and adjusted Reward Programs are not the answer all for the hotel. It is, the ways to help create interest in this industry for the immediate future..........