The Tropicana itself has spent much of its life targeting middle-class guests. One of the Strip’s first high-end establishments, the casino’s ties to organized crime and a changing competitive landscape brought an end to its glamorous days. It was sold to Ramada in 1979 and, despite changing ownership, operated as an affordable resort until it closed.
Now, as Las Vegas visitors seek a more high-end experience, Las Vegas is no longer in direct competition with long-time gambling centers such as Atlantic City, New Jersey, and Laughlin, Nevada, about 90 miles south of Sin City. There are fewer, Bellarmino said. Instead, “guests say they’re considering us at the same time they’re considering San Francisco or New York, so we’re a good value compared to those types of destinations.” ” she said.
$20/night and no resort fees are probably a thing of the past on the Strip.
Professor Nicholas Irwin, University of Nevada, Las Vegas
Bargains may not be as accessible as they once were.
“$20 a night and no resort fees is probably a thing of the past on the Strip,” said Nicholas Irwin, Mr. Bellarmino’s colleague at UNLV and director of research at the Reed Real Estate Center. “People are worried that we’re making it a priority. [business] It’s not about the growth of our children or our employees, it’s about their growth. ”
UNLV researchers predict that Las Vegas’ Clark County will grow at a steady rate of 1.6% this year and 1.4% next year, which is an increase in the number of people like Alicia Musks who have moved to the area. There’s also the influence of Californians. The 26-year-old, who works at a travel reservations agency inside MGM’s New York New York casino, said she moved to the city in April for the lower cost of living.
Alicia Musks works at a travel agency in Las Vegas and moved from California this year. NBC News’ Allie Leapson and Jesse McCrary
Recent immigrants to California are, on average, 15 to 19 percent wealthier than their new neighbors in Nevada, and the influx is putting pressure on demand and prices for goods and services in the metro area, Irwin said. It is said that he is calling. This could cause political repercussions in Nevada, a close battleground state where both presidential campaigns are competing for voters’ trust on economic issues.
According to federal data, Las Vegas’ unemployment rate reached 6.7% in July, up from 5.7% in the same month a year ago, and the state’s unemployment rate (6.3% as of July) and the national unemployment rate (as of September). (4.1%).
Still, metro area employers added 41,500 jobs from July 2023 to July 2024, and wage growth in the Western U.S. tracked by government economists has slowed as the country as a whole cools. Despite this, it has been on the rise this year.