MGM has announced a 69 % drop in profits for its 2nd year quarter. The MGM group own the MGM Grand complex and are one of the largest and most powerful organizations in Las Vegas. In spite of this decrease bosses at MGM are confident that they are not the worst effected and have out performed competitors.

“Our numbers have been rather good” given the economic decline, Chief Executive Terry Lanni said. “Las Vegas didn’t fall off the end of the earth, into the abyss.” Several competitor construction projects have had to been out on halt because of the economic recession.

“We have great physical facilities and we’ve consistently reinvested substantial sums of money, which allows customer to enjoy a better product at every level,” said Lanni.

The economic doesn’t show any signs of improving and Vegas chiefs will be looking for new marketing ideas to improve their finical position. With the rising costs of fuel and the options available at online casinos, Vegas chiefs are certainly feeling the full brunt of the economic recession. MGM grand are concentrating on luring middle eastern customers to Vegas in an attempt to attract a new customer base. The city has held its own against the economy in the past, but will it survive this time?

UK online casinos are now becoming very popular with online users. But nothing will compare to the Las Vegas experience. It is a world famous city, but still relatively new, so you may be thinking how it became the gambling capital of the world, well here a brief history of the city….

Las Vegas as we know it today is one of the most famous, extravagant, colorful cities around the world. The city can be found in the Nevada desert and has a rich history from its formation to its current day status of being the gambling capital of the world. Heres a brief history lesson in how the famous city was formed.

In 1855 Mormon setters from Salt Lake city traveled to the desert oasis to build a railway track through the Las Vegas springs. After building a small colony community the Mormons left due to constant raiding from Indians. In 1890 rail workers decided that the area of Las Vegas would be perfect for creation of a small town and stop off point due to its water rich oasis. The rail road was created and connected to several major towns near the region. The town was soon being built with small saloons, bards and shops opening.

Nevada was the first state to legalize gambling but in 1910 gambling was strictly outlawed. No form of betting was allowed even the flicking of a coin! Instead of gambling being driven out of the town, it simply only grew with several illegal casinos being setup up feeding the growth of an underground gambling industry. By the early 1930s the industry was thriving as the town grew and became larger and larger. Gambling was once again legalized in 1931 in an attempt to create taxes and funding for schools and state education. Now the state relies heavily on the income of gambling to help pay for state projects.

Vegas was pretty much unaffected by the depression in the 1930s due to the amount of local economic growth taking place in the town. Hotels and casino’s were beginning to rise all over the town, the Hoover dam was constructed providing electricity in the region. During WW2 the Nellis Airbase was constructed and was the base for thousands of trainee pilots, many of whom took up residency in Vegas. Even today, many in Vegas are connected in some way to the air base.

After the war the town soon grew into a city and more hotel and casino complexes where being constructed. The El Rancho complex was the first successful hotel and casino complex on the now infamous strip. During the 1940 several new casinos were constructed along the same strip of road. These first generation era casino were renovated or demolished throughout time and by the 1960s the most famous was the Flamingo Hotel which was owned by Benjamin “Bugsy” Siegel who was part of a notorious crime squad around that time.

The flamingo hotel still exists today and is part of the Hilton hotel group. The building boom continued throughout the 1950, with several big hotels being constructed including, the Tropicana, Hacienda, Stardust and Rivera Hotels. Every year hotels were being built and most were making huge amounts of money. Visitors were increasing every year and hotels and casinos were in demand. This growth has continued until this very day.

When gambling was legalized in other states such as Atlanta in 1976, Nevada could no longer pride itself as the only region in the US to legally gamble. It was at this time that plans for Mega Hotel/ Casino complexes were drawn up to make sure visitors kept returning to Vegas. Vegas chiefs increase the appeal of Vegas by not just appealing to tourists for gambling reasons. Before only gamblers would visit the city but, hotels owners and investors saw the need to expand facilities and entertainment to attract families. Through the 1980s and 90s theme parks were added to casino’s, further attractions were added for tourists to enjoy.

Vegas simply grew bigger and bigger as Hotels and casinos competed for the most extravagant complexes and facilities. Now the city boasts the greatest hotels in the world, numerous themed parks and of course at the heart of the city, the greatest casino’s facilities.

Its an amazing story. Who would would have thought the desert spring valley discovered just over 100 years ago would become such an iconic, famous and entertaining city loved by millions of visitors a year. Online gambling casinos are now the new rage, but they will never be able to replicate the character and atmosphere of Vegas.

The city of Macau is being dubbed the new Las Vegas by many. The city is located on south eastern coast of China and has recently made a name for itself as a gambling heaven. The area has thriving industries in textiles, toys, electronics and of course gambling.

As casino’s, such as the Las Vegas Sands, announce a loss in profits and shrinking share prices, the growth of Macau casino’s is unquestionable. The American economy is beginning to feel the effects of a recession, as Las Vegas casino operators are feeling these effects strongly already. The sand casino group however, also own the worlds largest casino in Macau and are currently building another Four season hotel in an area  of the city called the Cotai Strip.

The organization owns several commercial properties in Macau and are expanding in this region. In spite of this, back home in Vegas they are feeling the effects of the economic squeeze as are several other casino operators in the area. Macau is home to the Sands corporation’s Venetian Resort, which claims to be the worlds largest casino complex and is certainly one of the most premium venues in Macau.

Las Vegas casino’s will find it difficult to compete with this monster of a resort, as it has its own shopping mall with a Venetian canal running through the centre of it offering Gonadal rides! Visitors can also experience fine dining at its best by trying out the superb array of restaurants on offer. Entertainment wise, you don’t get any better than the Venetian. Watch international basketball, world class music stars and performers. Check out <a href=”http://www.venetianmacao.com/en/home.aspx/>their website</a> for more information!

The Bellagio Hotel is probably the most famous hotel in the world. Since opening in 1998 the Hotel has provided an iconic image of Las Vegas and is recognized around the world. Employing approximately 10,000 staff its one of the largest Hotel’s in Vegas and cost $1.6 Billion to build. The famous fountains at the front of the Hotel have been used in several films, and the Hotel itself appeared in Ocean elevens, Thirteen and Lucky You.

The Hotel’s casino is used by thousands everyday and offers “Big Game” Poker tournaments. The World Poker Tour (WTP) hosts it events at the Bellagio casino and some of the biggest professional players can be frequently found at the poker rooms.

The Bellagio’s fountain display takes place every 30 minutes during the day and every 15 minutes after 8pm. The fountain shows also include a stunning 4,5000 light display and music to wow spectators. There are 3,933 hotel room ranging from basic guest rooms, to personal Villas and guest suites. There are four fantastic restaurants for guests to try all of which offer a huge variety of food.

The casino is heaven for anyone who enjoys playing, poker, blackjack, roulette, craps and slots. You can enter exclusive table matches with no limits or enjoy a small bet on a slot machine or roulette table. The facilities on offer provide everything a visitor could want or need. Swimming pools, spas, a golf course, art galleries discos and bars make sure visitors are never bored.

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