May 2008 - Gambling revenue (down about 4% for January, February; 58% of revenue for Las Vegas Strip resorts in 1990, 41% of revenue in 2007 - source: Deutsche Bank), hotel occupancy down (down 1.5% for January, February); resorts are slashing room rates (average daily room rates 3.8% below 2007), offering coupons or free nights, casino operators are firing hundreds of workers, stock prices have plummeted since October; credit is drying up for hotel, condominium projects planned before slowdown arrived; people are spending less in Las Vegas; huge inventory of new casinos, hotels due for completion in next few years (40,000 new rooms planned by 2012); foreigners = 13% of visitors; 2007 - average foreign visitor spent $1,200 for purposes other than gambling (up from $1,159 in 2006) vs. average spending of $701 for all visitors in 2007, down from $750 in 2006 (source: Las Vegas Convention and Visitors Authority).
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