I hear Macau is about to really give Vegas a serious run for her money. Steve Wynn opened a resort over there and it is pulling Asain high roller away from Vegas at an incredible rate. I'm not sure what the investment was, ...obviously a few billion, but they got it all back in 9 months. Whereas Vegas takes quite a few years to even approach that. Just a short boat ride from China, ...it's gonna be huge.
Las Vegas is in real trouble. Not just from a gambling perspective, ...but also because it cannot support itself on it's own infrastructure. The bubble will soon burst on it's inflated real estate market. It lacks water. All of it's drinking water at the moment is currently supplied by the Colorado river. There's not enough to go around, and Las Vegas, infact both Las Vegas' (Nevada & New Mexico) are both embroiled in Law suits with surrounding areas over access to water rights. Without the water rights, Las Vegas, NV can experience no more growth. It's like trying to build an extension on your house to accomodate a growing family, ...only you can't get access to bricks or lumber, ...meanwhile, your wife gets pregnant with twins every 9 months. things are gonna get very crowded and very uncomfortable very soon. Some interesting times ahead.
