I lived in Las Vegas from 1987 until 1993 at which time I moved back to New York. A typical Friday night might have been to go to the paddle wheel for the $9.95 all you can eat ribs. Beef or pork, finger licking good, I mean, they were the best. Want more salad, no problem, that was included too, along with the mouth watering, fresh made sour dough bread, with plenty of soft, home made honey butter, butter with a hint of sweet honey.
Taking advantage of the cheap tourist attractions was one of the benfits of living in Las Vegas.
Well, that place is gone, and as far as I'm concerned, many, many more will continue to follow.
I remember in the late 80's, early 90's walking through the casinos, the sounds, the music, the cling, cling, cling of coins falling out of the machines of hope (slot machines) also known as one armed bandits.
Something else that interested me and helped me realize the soon falling of Vegas and Atlantic City, was the amount of older people playing slot machines, shooting craps and trying their hand at blackjack.
I remember once seeing an elderly woman, with an oxygen tank hooked up to her nose, smoking a cigarette while playing 2 slot machines.
These elderly people are the ones who had good pensions. Something that more and more workers will not be entitled to. These were the people who worked maybe in a simple position as a telephone operator, or a worker on an assembly line. These are the persons receiving benefits from their job and the Government for serving in one of many wars. These type of people are becoming fewer and fewer. As more and more persons in their 60's and up continue dying off, this will hurt the gambling industry severely, bringing further collapse to Las Vegas in particular. Las Vegas was also a great place to retire, but those types of retirees have, well, died.
Except for person who are blessed with civil service Jobs, especially those blessed with $100K salaries or more, people of the future will no longer be able to afford the fun of gambling. Another thing to look at is the type of people growing up in the U.S.
I can't picture half these kids growing up taking any interest in gambling, but rather operating a sushi bar or growing organic foods.