Check out lvs and mgm...they cant get money in this environment and they are in debt due to macau and other billion dollar construction projects...check out their 52week highs...Adelson was worth 30bil last yr and is probably not even a billionaire this week.
Did they actually think this sector would avoid this crisis. Come on. Those projects will remain on the sidelines for years.
Seriously though, Vegas et al (casinos in general) is fat and needs to lose weight... about half, I'd say. In my observations, Vegas is a good indicator of the immediate state of the economy, unlike lagging indicators that take two or more quarters to identify an economy. A recession draws more people to Vegas than healthy times, because people still have money to lose, just not as much as in healthy times, and they want to 'catch up' with those good times. A depression shows weakness in Vegas, because recession is past and now people don't have money to make ends meet, let alone gamble to double the grocery money.
vegas was over when clooney and matt damon etc said they were partners in some new mega condo tower complex.That was the top.The dumb money always shows up at the end of the game.