Las Vegas counts on CityCentre Events to boost gambling
The 2008 recession has put Las Vegas in to a tough spot which it is still recovering from today but with the help of new facilities such as the MGM Mirage CityCentre things seem to be looking up for the Sin City.
Las Vegas gained some new revenue at the end of 2010 and entered the New Year in style but to keep things going smoothly CityCentre needs to bring back the reduced gaming industry.
CityCentre has used their convention bookings to get a gain for the first time in the third quarter of the economic year with 1.6 million convention room night bookings there is no doubt that this business model is the best for the resort.
The conventions will have to be brought back if Las Vegas wants to get the old glory days back. MGM Mirage is only one of the companies that will be waiting for customers to bring in the profits.
Steve Schwartz, a Gaming Analyst said “Conventions used to be the biggest way for casinos to lure gamblers to Las Vegas But after the recession; many executives were concerned they would be scrutinized for holding company meetings in Las Vegas, so they turned elsewhere.”
Another new facility is the Cosmopolitan which is designed to lure the customers in with the use of celebrities such as when Jay-Z performed at New Year`s Eve along with many other acts to kick off 2011.
Although companies started to scale down their business meetings since the recession replacing the lavish Las Vegas casinos meetings with budget get- togethers in other more accessible locations of the U.S.