The Fall of the Vegas Empire?

Las Vegas is back in the news these days and not for what Vegas has typically been known for in the past. Las Vegas announcements used to be exciting. There was either a new, big show coming to town or news of a new Casino/Resort opening up. And in more recent years, Vegas has made the news with its aquiring of a professional football and hockey team. But now it seems the "good news" days might be coming to an end.

Articles are now being written highlighting the tremendous drop in tourism so far this year, especially when compared to other tour hot spots around the Country. And many readers of these articles seem to be confused as to why this is. Well let us tell you some of the BIG reasons Vegas is slowly becoming a "once was" vacation destination.

• Demographic Shifts. From the 1950's until more recent years, Vegas was the go-to for anyone who was a showgoer, entertainer or gambler. If you wanted glitz and glamour and the excitement of possibly winning big money, Las Vegas was it. Atlantic City never had the same appeal as Vegas. The Boomers loved the sunshine, dry air and opulence that was Las Vegas. Now that the Boomers and X'ers are getting up there in years, the appeal of Vegas has waned. The younger generations now have apps on their phone where they can gamble if so desired and do it 24/7. Gamblers and showgoers no longer have to go all the way out west when so many States now have some form of legal gambling and even high rise casinos that bring in big stars or concerts etc.

• Shifts in Costs. Las Vegas was once known for being a place you could go have a lot of fun on a pretty cheap budget (minus the losses when gambling). Vegas was always known for the beautiful casinos , but someone could also go and stay in a nice hotel on a lower budget and enjoy 24hr buffets that were also easy on the wallet. Not anymore. The casino owners got greedy. They started raising hotel prices and cutting amenities from rooms. 24hr buffets are now charging exhorbant prices while telling patrons they only have so long to eat before they have to give up their table. Gone are the days of traveling like a King in Vegas while on a pauper's budget.

• Unsavory Streetscape. Back 20 or 30 years ago when Vegas was at it's peak, it was still somewhere you might take someone who was not into gambling. There was so much to see just by walking down the Strip. But now you are inundated with people handing you flyers for hookers or porn shows or panhandling for drugs. It is the last place I would ever think a family would want to visit or someone who has no interest in gambling.

• No more elopement. Las Vegas used to be synonymous with quick weddings due to Nevada's marriage laws. If someone eloped between the 1950's and say the late 1990's, 99% chance it was done in Las Vegas. Now younger people are not only putting off getting married completely, but gone are the days when a young person was just wanting to be married. Now weddings are way more involved and include more than just a wedding and a marriage certificate.

• True Competition. As mentioned previously, Vegas is not the only option anymore when it comes to legal gambling. There are a variety of large, name-brand casinos smattered about the Country in addition to all of the gaming apps. But what Vegas also used to be known for was it's bachelor and bachlorette parties. Well to Vegas's shagrin, Nashville has now become the most popular destination for pre-wedding festivities. Nashville is much more of a family destination and centrally located for so many living in the midwest, south and northeast.

What should really frighten the Las Vegas Chamber of Commerce is that none of what we mentioned above is just a "trend" or related solely to some economic downturn or other adverse event. Las Vegas had no vision for the future it seems other than trying to secure some new sports teams. And while these new sports teams may attract locals, they are not going to be a real driver for the tourism Vegas has been used to for over 60 years.

So are we seeing the start of the real downfall of Las Vegas? Will Las Vegas have the same fate as Atlantic City, but on a much larger scale? Can you imagine what the Strip would look like if one or two of the major casinos were to close? The answer to that question may happen sooner than some think if Vegas doesn't reinvent itself very soon.