Las Vegas or bust. The Dice is tumbling and revenue is down in the gambling capital.

July 18, 2014

no fear

Bright light city gonna set my soul, gonna set my soul on fire. I got a whole lotta money thats ready to burn so get those stakes up higher…..

So how high do you want them to be raised? The stakes I mean. How much do you have to loose? Las Vegas is a hot bet of mentalism and surrealism. The home to crazy bets and even crazier people. It doesn’t sleep and there is no time for there are no clocks. Time is an idea here. They know it exists but bear it no mind. A bit like Switzerland. As the hours wear on, the stakes get higher and losses get chased as small fortunes are won and giant fortunes lost. How high again?

At the Bellagio Casino on the main strip, tucked away at the back of the auditorium, is a small games room known as ‘Bobbys Room’, and it is here where you will find the really high stakes you are after. In the early part of the century a team of professional poker players, lead by Doyle Brunson, took on billionaire Andy Beal in what was to become the biggest card game on the planet. Blinds were set, and increased, until at one point in proceedings they were resting lazily at $100,000 and $200,000. That’s a car and a house every time you get dealt some cards. The players had to put 200k just to play their cards. Crisis? What crisis?

But all is not flowers and roses. Head for Vegas while you can, because it won’t be here forever. Las Vegas is sinking, and not into the Nevada desert that surrounds it. Visitor numbers are down and gambling revenue is plummeting, the recession is hitting the ravaged, beating heart of America. The money is drying up and there is no-one to blame. In the first quarter of this year gambling revenue was down 4%, the biggest drop since 1970 and serious cause for concern for a city whose life blood is the constant ringing of the slot machine bells.

After the terror attacks on The World Trade centre when America seemed to hoard its money as if the sky was falling down, Las Vegas carried on regardless, a rolling freight-train, shackled by nothing. Something different is happening now though. The once impervious city is taking body blows as the global economic heat finally takes hold and the desert barometer is showing no signs of letting up. The stock price of the MGM Mirage, owner of 9 hotels and casino resorts on the famous strip, including the aforementioned Bellagio, have tumbled from over $100 before Christmas to under half of that now.

The same company has terminated the contracts of over 400 employees to save revenue. New hotels and Casinos are being half built and left to the birds as investors pull out and building firms go bust. A $6 billion replica of the New York Plaza has been shelved and the $3 billion Cosmopolitan resort is half built after the developers defaulted on a $760 million loan from Deutsche Bank.

But of course this is of no use to you. The part time American gambler, the dreamer and the steamer, the loser. Big or small, the amount is irrelevant, there is always only ever one winner and we all know who that is. But the casinos never apologise do they? They never take the blame for the bad luck, for the our draw, for the fish that got lucky. For the luck of the draw, the bad cards on the flop or the momentary lack of breath as the balls bounces from red, slowly slowly slowly into black. 22 is nearly 21. Oh so near. Just 1. For all the bad beats on he Vegas strip, Taketheblame holds its hands up and says sorry. The cards were dealt and we are to blame.

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