Las Vegas Sands May 'Default on Bonds;' 'Cease to Exist As Going Concern'

Quote from S2007S:

And many thought this industry was recession proof.......
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As I have stated elsewhere, recessions mean that gambling prospers. Depressions mean gambling is limited to only the wealthy and desperate. Since Vegas was reborn in the 70s and 80s to attract middle-income families et al, that class is drying up and so is their primary income source of discretionary income. Prostitution will remain a viable investment, albeit criminal.
 
gambling is recission proof when it comes to buying lottery tickets. it is like the potato famine in ireland. when you are poor you will buy both lottery tickets and in the old days potatoes.
 
Quote from GermanTrader:

As I have stated elsewhere, recessions mean that gambling prospers. Depressions mean gambling is limited to only the wealthy and desperate. Since Vegas was reborn in the 70s and 80s to attract middle-income families et al, that class is drying up and so is their primary income source of discretionary income. Prostitution will remain a viable investment, albeit criminal.
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it is too bad so many women are working for the government. otherwise more women would become borderline prostitutes. incorrect. they all are already.it is a matter of semantics.
 
prostitiution is legal in nevada its a regulated industry
Quote from GermanTrader:

As I have stated elsewhere, recessions mean that gambling prospers. Depressions mean gambling is limited to only the wealthy and desperate. Since Vegas was reborn in the 70s and 80s to attract middle-income families et al, that class is drying up and so is their primary income source of discretionary income. Prostitution will remain a viable investment, albeit criminal.
More...
 
Quote from GermanTrader:Prostitution will remain a viable investment, albeit criminal.
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They're also hurting :cool:

http://www.latimes.com/news/nationworld/nation/la-na-brothel4-2008nov04,0,7844981.story

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I live in Vegas. People keep talking about YOY casino profits being down, and YOY traffic at McCarran being down. However, if you turned off the TV and stopped reading the newspapers, you wouldn't know that there is a recession.

05-06 were record years for several casinos. If you're expecting the numbers to be the same or greater than those years, you're going to be disappointed. However, it's hard to see a decline.

The strip is absolutely packed every night. There are still lots of cranes in the air. There's plenty of room to build for the next 20 years. The traffic here is worse than Chicago and the infrastructure is newer (much wider roads and highways).

The only thing keeping Vegas from continuing on its ascend are lenders. They just need to loosen up a bit.

As long as people exist, gaming will be big business. People view it as entertainment. They usually have a certain amount set aside that they're willing to gamble with and lose when they visit.

And no, they're not going to run out of water.
 
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