Exactly. The top 10% of the US population is currently responsible for 50% of spending, which is propping up the economy. But places like Vegas don’t cater to the top 10%. Oh sure, there are high-roller areas; but for the most part, Vegas caters to the lower-middle class. Shockingly, rich people don’t like hanging around smokey casinos and a bunch of drunk gambling addicts. It’s no surprise that it’s suffering.
They want to cater to the 1%, they’re only going to get traffic from the 1%
The problem is they are competing with the entire world then. The 1% would rather go to Macau.
Exactly. The top 10% of the US population is currently responsible for 50% of spending, which is propping up the economy. But places like Vegas don’t cater to the top 10%. Oh sure, there are high-roller areas; but for the most part, Vegas caters to the lower-middle class. Shockingly, rich people don’t like hanging around smokey casinos and a bunch of drunk gambling addicts. It’s no surprise that it’s suffering.