Hard times hitting Las Vegas

From Time Magazine:

But I'm here because Las Vegas is on sale. The hotels, led by Wynn Resorts boss Steve Wynn, slashed room prices to increase occupancy rates to 82% from a low of 72%. On the right day in July, you could book the type of 750-sq.-ft. room that was $500 a year ago at the Wynn for $109 and get a $50 gift certificate. The high-end restaurants at the MGM have gotten rid of most of their $400 bottles of wine and replaced them with $100 ones. This is either a model for the rest of the country or, if the reset fails, the beginning of a long, long slide.


Las Vegas is the city hit hardest by the recession. Click the above link to read more from Time Magazine's article that details Las Vegas' bet for a come back.