As a result, occupancy rates at Las Vegas hotels are absolutely plummeting…

Las Vegas hotels are posting some of the steepest year-over-year performance declines among major U.S. markets this summer as international visitor weakness and economic uncertainty take a toll.

Preliminary STR data indicates Las Vegas occupancy fell 14.9% in June, which, if actualized, would mark the city’s deepest monthly decline so far this year.

The deterioration continued into July, with the week ending July 5 showing Vegas with the worst declines across the top 25 U.S. markets: Occupancy fell 16.8%, to 66.7%, and revenue per available room (RevPAR) plunged 28.7%, to $102.75, according to STR.


Because things are so slow, workers are being laid off, and the unemployment rate in the Las Vegas area jumped quite a bit higher last month…

Las Vegas’ jobless rate ticked higher again last month amid a slump in tourism this year.

The Las Vegas-area’s unemployment rate was 5.8 percent in June, up from 5.5 percent in May, according to non-seasonally adjusted figures released this week by the Nevada Department of Employment, Training and Rehabilitation.

Nobody can deny what is happening in Las Vegas, because the numbers are telling a very clear story.

And it turns out that casinos in other areas of the country are also experiencing financial difficulties right now. Here is just one prominent example…

Earlier this month, resort and casino operator Maverick Gaming filed for Chapter 11 protection in the U.S. Southern District of Texas. The Kirkland, Washington-based company owns five casinos across Nevada, Colorado, and Washington and reported that it currently has between $100 million and $500 million in liabilities.

The Nevada properties include a combined 1,200 hotel rooms, 1,700 slot machines and 43 table games. The Washington resorts also have 17 card tables used by visitors specifically seeking out the hotels for gambling trips.

This reminds me so much of the Great Recession.

If you think that I am exaggerating, let me give you another parallel to 2008 and 2009. Our housing market just experienced “its slowest spring season in more than a dozen years”…

The US housing market just logged its slowest spring season in more than a dozen years, leaving Glennda Baker, a veteran real estate agent in Atlanta, struggling to sell 21 listings.

She’s been slashing prices. But months of chatter about AI taking jobs and tariffs tanking the economy is feeding into buyer indecision.
“People say price solves everything,” Baker said. “But price doesn’t solve uncertainty.”


For the entire year of 2025, home sales in the United States are expected to hit the lowest level in 30 years…

Home sales are set to plunge to a 30-year low — with experts warning the slump could deepen into a full‑blown collapse. Just four million transactions are expected in the US this year, according to new data from Realtor.com. That would mark the lowest level since 1995, according to the National Association of Realtors.

Yes, it is being projected that home sales in 2025 will be even lower than they were in 2008 and 2009.

That isn’t just bad.

That is really bad.

So why do the talking heads on CNBC continue to insist that the economy is strong?

Have they gone completely nuts?

I simply don’t understand why they can’t see the parallels to 2008 and 2009, but one thing that we didn’t have in 2008 and 2009 that we are dealing with today is rampant inflation.

If you can believe it, the average list price of a 3-year-old used vehicle has risen by $9,476 over the past six years…

Detroit Free Press autos writer Jamie LaReau reported recently that the average list price for a 3-year-old vehicle is now $32,635, an infuriating $9,476 more than it was six years ago.

This is one of the primary reasons why so many Americans are driving around in 20-year-old vehicles these days.

The average age of the vehicles on U.S. roads has reached an all-time record high, and that isn’t going to change any time soon.

Meanwhile, meat prices just continue to skyrocket…

In June, meat prices well outpaced the entire food-at-home category, with steak and ground beef prices rising 12.4% and 10.3%, respectively, compared with a year earlier, according to the Labor Department’s consumer price index (CPI).

Beef prices are now hitting a record $9.26 per pound at retailers as of June, according to the USDA.

Inflation is causing our standard of living to collapse.

This is something that I have written about over and over again.

At this stage, things are so bad that 83 percent of Americans are dealing with “stressflation”…

A LifeStance Health survey released today reveals “stressflation” is affecting most Americans, with 83% reporting financial stress driven by inflation, mass layoffs, the rising cost of living and recession fears. Millennials and Gen Z report the most significant mental health impacts.

So if you are feeling stressed about the rapidly rising cost of living, you are certainly not alone.

Sadly, the long-term trends that have brought us to this point are not going to abate any time soon.

In fact, a tremendous amount of societal chaos is on the horizon.

So I would encourage you to batten down the hatches, because the storm that is heading our way is not going to be pleasant.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.



About the Author: Michael Snyder’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com. He has also written nine other books that are available on Amazon.com including “Chaos”, “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.

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The “Year Of The Flood” Continues – The U.S. Was Just Hit By 4 More Catastrophic Flooding Events In Just 48 Hours



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O.K. Shinny, spill da beans.

[QUOTE]Originally posted by MAXIMUS PANDAMONIUS:
As a result, occupancy rates at Las Vegas hotels are absolutely plummeting…

Las Vegas hotels are posting some of the steepest year-over-year performance declines among major U.S. markets this summer as international visitor weakness and economic uncertainty take a toll.

Preliminary STR data indicates Las Vegas occupancy fell 14.9% in June, which, if actualized, would mark the city’s deepest monthly decline so far this year.

The deterioration continued into July, with the week ending July 5 showing Vegas with the worst declines across the top 25 U.S. markets: Occupancy fell 16.8%, to 66.7%, and revenue per available room (RevPAR) plunged 28.7%, to $102.75, according to STR.


Because things are so slow, workers are being laid off, and the unemployment rate in the Las Vegas area jumped quite a bit higher last month…

Las Vegas’ jobless rate ticked higher again last month amid a slump in tourism this year.

The Las Vegas-area’s unemployment rate was 5.8 percent in June, up from 5.5 percent in May, according to non-seasonally adjusted figures released this week by the Nevada Department of Employment, Training and Rehabilitation.

Nobody can deny what is happening in Las Vegas, because the numbers are telling a very clear story.

And it turns out that casinos in other areas of the country are also experiencing financial difficulties right now. Here is just one prominent example…

Earlier this month, resort and casino operator Maverick Gaming filed for Chapter 11 protection in the U.S. Southern District of Texas. The Kirkland, Washington-based company owns five casinos across Nevada, Colorado, and Washington and reported that it currently has between $100 million and $500 million in liabilities.

The Nevada properties include a combined 1,200 hotel rooms, 1,700 slot machines and 43 table games. The Washington resorts also have 17 card tables used by visitors specifically seeking out the hotels for gambling trips.

This reminds me so much of the Great Recession.

If you think that I am exaggerating, let me give you another parallel to 2008 and 2009. Our housing market just experienced “its slowest spring season in more than a dozen years”…

The US housing market just logged its slowest spring season in more than a dozen years, leaving Glennda Baker, a veteran real estate agent in Atlanta, struggling to sell 21 listings.

She’s been slashing prices. But months of chatter about AI taking jobs and tariffs tanking the economy is feeding into buyer indecision.
“People say price solves everything,” Baker said. “But price doesn’t solve uncertainty.”


For the entire year of 2025, home sales in the United States are expected to hit the lowest level in 30 years…

Home sales are set to plunge to a 30-year low — with experts warning the slump could deepen into a full‑blown collapse. Just four million transactions are expected in the US this year, according to new data from Realtor.com. That would mark the lowest level since 1995, according to the National Association of Realtors.

Yes, it is being projected that home sales in 2025 will be even lower than they were in 2008 and 2009.

That isn’t just bad.

That is really bad.

So why do the talking heads on CNBC continue to insist that the economy is strong?

Have they gone completely nuts?

I simply don’t understand why they can’t see the parallels to 2008 and 2009, but one thing that we didn’t have in 2008 and 2009 that we are dealing with today is rampant inflation.

If you can believe it, the average list price of a 3-year-old used vehicle has risen by $9,476 over the past six years…

Detroit Free Press autos writer Jamie LaReau reported recently that the average list price for a 3-year-old vehicle is now $32,635, an infuriating $9,476 more than it was six years ago.

This is one of the primary reasons why so many Americans are driving around in 20-year-old vehicles these days.

The average age of the vehicles on U.S. roads has reached an all-time record high, and that isn’t going to change any time soon.

Meanwhile, meat prices just continue to skyrocket…

In June, meat prices well outpaced the entire food-at-home category, with steak and ground beef prices rising 12.4% and 10.3%, respectively, compared with a year earlier, according to the Labor Department’s consumer price index (CPI).

Beef prices are now hitting a record $9.26 per pound at retailers as of June, according to the USDA.

Inflation is causing our standard of living to collapse.

This is something that I have written about over and over again.

At this stage, things are so bad that 83 percent of Americans are dealing with “stressflation”…

A LifeStance Health survey released today reveals “stressflation” is affecting most Americans, with 83% reporting financial stress driven by inflation, mass layoffs, the rising cost of living and recession fears. Millennials and Gen Z report the most significant mental health impacts.

So if you are feeling stressed about the rapidly rising cost of living, you are certainly not alone.

Sadly, the long-term trends that have brought us to this point are not going to abate any time soon.

In fact, a tremendous amount of societal chaos is on the horizon.

So I would encourage you to batten down the hatches, because the storm that is heading our way is not going to be pleasant.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.



About the Author: Michael Snyder’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com. He has also written nine other books that are available on Amazon.com including “Chaos”, “End Times”, “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. When you purchase any of Michael’s books you help to support the work that he is doing. You can also get his articles by email as soon as he publishes them by subscribing to his Substack newsletter. Michael has published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and he always freely and happily allows others to republish those articles on their own websites. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, we strongly urge you to invite Jesus Christ to be your Lord and Savior today.

Share
Tweet

CategoriesMoney
Post navigation
The “Year Of The Flood” Continues – The U.S. Was Just Hit By 4 More Catastrophic Flooding Events In Just 48 Hours



undefinedtitleUTTER VICTORY. - Liberal Hivemind...titleWhite Couple PUMMELED By Mob Of "Youths" Media IGNORES Story! This Is HARD TO WATCH!...titlePresident Trump's Bold Stand: Exposing Epstein's Elite Connections and Battling the Deep State for F...titleNice New Little White Village Causing Black and

You can gamble online or at casinos in numerous states now..If all that wasted money was put back into the real economy just think of the possibilities for humanity!

vegas is trying to blame this on the drop in Canuckian visitors, but I call bullshit. It is just too damn expensive to go there anymore.

quote:

Originally posted by Jefiner:
vegas is trying to blame this on the drop in Canuckian visitors, but I call bullshit. It is just too damn expensive to go there anymore.

Yep. If you wanna play, you have to pay!

2000 bucks for the girlfriend experience.

Actually that's cheap. My buddy just lost 300 grand in a divorce. That was the marriage
experience.

quote:

O.K. Shinny, spill da beans.

The fucking place is just waaaay over priced. Was there 2 years ago with my family from Japan--staying at the Paris hotel. Fees for everything you can imagine. Long waiting times for check in. Just to draw cash out of teller, there a 9.00 charge (fuck that--went off strip to B of A).

Breakfast for 4, would be way over 100 at the buffet alone--so we went to IHOP. Miminum bets are 15.00 on most low limit games--and they up up to 25.00 on weekends. Rooms are overpriced. you have to pay for parking at 18.00 per day.

Back in March the Japanese relative came back over and this time we went through Laughlin--not as bad. Not as insane. There is were the retirement crowds go now. Off strip casinos are doing lots of business, but the center-mass casinos which are run by Ceaser's Corp are the once setting the trends for the whole strip.

Seems like some years ago, most all the big properties sold-off their properties to big equity firms like Black Rock, who then lease back the casino to the one's with the gaming licenses--and every year, the rents are hiked... so the rates go up and up. These fuckers with MBA's (egg-heads) fucked themselves for some short term gain.

If you look at some of these peak-season videos recently, you'll see empty casinos and empty streets, where before it was teaming with tourists. There's this one multi-billion dollar property on the strip that is a dead-zone presently.

Yet--these egg-head MBA's don't get the message. They keep opening up these mega-resorts, with super-high-premium malls catering to the ultra wealthy. How many of these high-end, Rodeo Drive type of shops does Vegas need? I sat waiting for a poker table while staring at one of these shops at Bellagio not too long ago and did not see on person enter during my whole poker session (hours).

A couple years ago, when the relatives were there, I noticed lots of activity--and this is when the price hikes began to start. But now? It's fucking dead. When I go, I play at the Orleans, Green Valley Ranch and at West Point where there are no parking fees.

I used to hustle card-counting back in the 90's when I returned from Japan--and back then you cold get a nice steak dinner at Binion's for 3.99 after 11pm. That's gone now. The buffet at Bellagio used to be 40 hondos, now it's over 100.00 per person. Same with all the other center strip casinos. The prices are out of control.

If you go to Vegas--stay at an off-strip casino. As far away as you can from the Vegas Strip. Do not go in the peak seasons--or on holidays... especially New Year's eve. If you want to cruise the strip--take the tour bus or take an Uber to mid-strip and hike around. If you do hike around, stay on the strip due to rampant crime--especially downtown... and if there stay on the mall downtown. DO NOT VENTURE outside of the downtown mall as it becomes dystopic in a real way.

When I was downtown last, they had 10 foot circles painted on the pavement for the hustlers and street performers to do their thing, first come first serve. I shot a blackjack video down there in the late 90's and got pestered for a permit... now anything goes and it had became a literally zoo. Some of the closed casinos (and there were a few) had 100 ft. or longer bars across the frontage selling frozen adult drinks. This totally fucked up what was downtown Las Vegas. Actually that closing off the street to cars and making it a pedestrian mall fucked it up over 25 years ago.

The only place I'd stay downtown is at the 4 Queens or the Plaza at the end of the downtown mall. If you like out-of-control, low-life party behavior, sometimes with lots of Knee-grows--then downtown Las Vegas is your place to be.

Thanks for the comprehensive take on sin city. Very interesting post.

quote:

Originally posted by Shinmen Takezo:

Breakfast for 4, would be way over 100 at the buffet alone--so we went to IHOP. Miminum bets are 15.00 on most low limit games--and they up up to 25.00 on weekends. Rooms are overpriced. you have to pay for parking at 18.00 per day.

The only time I've ever been was back in 2012. My brother and I treated Mom to a trip for her 70th birthday. We stayed at The Wynn and I thought it was real nice, just shitty the way it's laid out. Their dinner buffet was only VERY average quality (shitty crab legs) and was about 45-50 bucks a head, IIRC.

We were there on Fri. night, Sat., and Sun. morning, and I remember the table games like blackjack being 15 dollar minimum where during the week I was told they were bumped down to 10 to encourage business. We had a regular dinner at a VERY nice place on Sat. night and our tab, tip and all, was like 350.

Same night we went to the Cirque du Soleil "Elvis" show which was friggin' AWESOME. We hit a lucky stroke with that one because my brother scored some comp. tickets from a connection in the entertainment biz. He was living in NYC at the time doing Broadway and similar type stuff and had good connections.

All in all, it was a decent weekend, but it didn't really blow my skirt up all that much.

quote:

tab, tip

Didn't blow your skirt up? Pants are preferable Brutus

quote:

vegas is trying to blame this on the drop in Canuckian visitors, but I call bullshit. It is just too damn expensive to go there anymore.

It's just too freakin' expensive now. It used to be a value destination, now it's run by the same mentality that runs Disneyland. Even a ticket to a show runs in the hundreds of dollars. The main villian in the current situation is Ceaser's group that runs a bunch of the epicenter of the strip. Note that even some of the state-line joints are calling it quits, like Whiskey Pete's.

quote:

Yep. If you wanna play, you have to pay!

$98 for a scallop appetizer and a glass of meh chardonnay? At least the barman was nice and deserved the twenty percent tip.

The casino blew chunks. Fuck Vegas.