Once upon a time, in the late eighties, the then current CEO of Harrah's casino was under the quaint misconception that Las Vegas Nevada was oversaturated with large hotel casinos...If that thought doesn't constitute as a fairy tale, I don't know what does. Unfortunately, that particular CEO did not have a fairytale ending, given that his shareholders witnessed the Las Vegas market boom exponentially with casino companies such as MGM growing to behemoth size and getting rewarded with equally behemoth revenues. Harrah's new CEO caught on to the shift and soon brought the casino company back to the head of the class with six large hotel casinos raking in the revenues.

 

Well, the skeptics continue to be proven wrong as Las Vegas casinos continue to grow in number while hardly suffering from a lack in guests to fill their thousands of rooms. This past year saw an eighty-six percent increase in the amount of visitors that Las Vegas' casinos hosted in 1990. The tally is now up to an astonishing thirty-nine million visitors in one year. Given this increase, even with more and more large hotel casinos popping up along the strip, and an impressive 95% rate of capacity on weekends and nearly 90%  during even the weekdays, the boom is booming bigger than ever.

 

With record setting resort casinos being built up and down the Strip by a number of different companies, the only variation from the days or ore are the new additions of condominiums going up with the mammoth hotel casino establishments. The other contrast is the market's recognition of the younger crowd now patronizing Las Vegas, thanks to the dismissal of the older style of gaudy Las Vegas casinos that catered to an entirely different age and social subset.

 

New complexes, such as MGM's City Center Project, which will go down as the most expensive privately funded project in the United States and be made up of four entirely different tower complexes with casino and retail and entertainment facilities to match, tempt the burgeoning masses. Even the once middle market developer, Boyd Gaming, has dove in on the top tier market, with their Echelon complex consisting of two towers made-up of three different hotels and condominiums, plus all the casino and entertainment trimmings.

 

So, while the rest of America's real estate market is suffering from a drab decline, Las Vegas casinos continue to draw buyers for their condominiums and attract more and more tourists from around the world just looking for a good time.