Feature Story
''The Party Is Just About?''
Written by Frank Rosenthal on October 13, 2000
It all began in 1931, and they've never looked back. The Silver State became a carousel of casinos. Beginning with Benny "Bugsy" Siegal, the super visionary who led the way with his Fabulous Flamingo" Hotel & Casino in Las Vegas, Nevada? From Reno to Lake Tahoe, Las Vegas, and Virginia City, Nevada became a "Knockout State." Take no prisoners; send 'em home COD. Games of chance, not back in the early days. The majority of the casinos seldom used square dice or dealt straight up Blackjack 21. Deuce dealers became the secret weapons for many of the unsuspecting high rollers. Had you entered the casino with a fat bankroll or a sizeable credit line you became fair game, and your chances for winning or breaking even were slim, at best!
Several decades later reclusive billionaire Howard Hughes altered the course of gaming throughout the Silver State. His first acquisition was the Desert Inn. He then quickly purchased six more casinos and the majority of the existing real estate throughout the Las Vegas Valley. Corporate America had landed, and the party was heating up. Educated casino operators quickly determined that you could win more money with "Squares" than crooked dice "Baloneys." Deuce dealers were out of work and became industry Dinosaurs. Most casinos went straight up, and the games were free of scam or deception. Players had a chance, even though in reality, it was merely a prayer. Resident casino experts were predicting doomsday due to a false theory that Las Vegas was becoming over saturated. Were they ever wrong! Today the lights are brighter; the casinos are bigger and more luxurious than one could have ever imagined. Some of the newer penthouses within the super resorts like the Venetian Mirage or the Belaggio resemble Beverly Hills mansions reserved for Kings and Queens. The rich and famous are catered and pampered to in an all out bidding war amongst the top casino properties. High Rollers receive casino kickbacks, ranging anywhere from 15 to 25 percent against their losses. Chartered Lear jets, room, food and beverage. Fresh cut flowers, every conceivable perk and luxury the casinos can think of becomes SOP. Fierce competition for capturing the rare human "Whales" has been taken to a new level. Today's Las Vegas dinning is prepared by world class chefs that rival the cuisine of Paris, New York, and most of the West Coast. Las Vegas has rightfully earned the title as being the entertainment Capitol of the World. Sounds like a very bright and prosperous future for the owners and stockholders that are banking their bucks in Nevada's booming economy. Nevada has become the fastest growing state in America. That's the good news! Here's the flip side, along with a few predictions.
25 States have legalized land based Las Vegas style casinos. That number will grow considerably over the next 5 years. But more importantly, the emergence of unregulated Native American Tribal gaming presents a genuine threat to the continued success of Nevada's gaming industry. California, in particular with over 20 sovereign tribal nations primed to open modern day hotel and casinos, complete with the finest entertainment money can buy, may very become a challenging predator. Just how long Florida will remain on the sidelines is debatable, however, inevitable. Miami Beach is a natural. Modern day ocean front world class hotels have been primed for years, awaiting the opportunity for casino gaming. It's going to happen, and when it does that could be the fatal dagger into the heart of Nevada gaming. Gaming is no longer synonymous with vice. The world population has increased their appetite for gambling in general. Every city in Australia enjoys all form of gaming. The United Kingdom is progressive and unwilling to consider the political opposition that exists within our system. From Europe to Asia, with the exception of Norway and Sweden, gambling is booming. Even the Republic of China has plans to roll the dice. Offshore online gaming, both casino and sportsbooks are increasing. Within 5 years, the number one industry in Nevada will be wild Mustangs and Cactus juice. "The party is just about over."
If I were a gambling man, I'd bet on it!
Good Luck, Frank Rosenthal