September 25, 2009

Homeless People Live in Tunnels Under Las Vegas

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Nightline just did a segment on the underground tunnels in Las Vegas that are home to thousands of homeless people. The segment is both amazing and horrifying. In a city with so much money - why are the homeless options to live underground in filth?

Millions of tourists walk up and down the Las Vegas strip every year, looking to have fun and make some money. But beneath the flashing lights, there is a much darker side of Las Vegas.

Underneath Sin City's most famous casinos is a secret world: a labyrinth of tunnels that run for miles under the Las Vegas Valley. Built to protect the desert city from flash floods, the tunnels have become home to hundreds of Las Vegas' homeless.

Nightline visited the underground world beneath the Las Vegas strip, with Matthew O'Brien, author of "Beneath the Neon: Life and Death in the Tunnels of Las Vegas," as our guide.

Video at Las Vegas Strip Home to Homeless

Jay Brewer Permalink | Comments (0) | social bookmarking

September 18, 2009

Poker Generating More Money than Race Books

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Seems like poker rooms are starting to really pull in the money. Since 2003 poker has steadily been rising in popularity and it really contributing to the bottom line.

Poker is becoming a revenue generator for Las Vegas. According to state figures, Nevada's 106 poker rooms generated $155.7 million in revenues in 2008. That is more than the $136 million gained by the state's 185 sports book and almost twice the $80 million won by the state's 96 race books.

Poker play in Nevada has more than doubled since 2003, the beginning of the poker boom.

Poker, like all gaming, suffered a slight setback in 2008, but it was much lower than all other games of chance. Poker play revenues fell 4.6 percent in Nevada. Overall gaming revenues dropped 9.7 percent.

Full read at Vegas casinos ride wave of poker boom

Jay Brewer Permalink | Comments (0) | social bookmarking

September 11, 2009

Casino Revenues Continue To Drop - But for How Long?

A very cool report on Bloomberg confirms - casinos are in tough shape, but for how long?

Jay Brewer Permalink | Comments (0) | social bookmarking

September 4, 2009

Las Vegas Casino Bellagio files lawsuit against Sir Allen Stanford

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Photograph: Dave Einsel/Getty Images

Looks like you need to pay your debts Mr. Billionaire.

Unwell, behind bars and stripped of his fortune, the billionaire financier Sir Allen Stanford is facing yet another headache - a Las Vegas casino is suing him for $258,480 (£160,000) in unpaid gambling debts.

The Bellagio,on the Las Vegas Strip, has filed a lawsuit in Nevada's Clark County district court accusing Stanford of running up gaming losses in January barely a month before the US authorities raided the Houston headquarters of his Stanford Financial Group and charged him with fraud.

At Las Vegas casino files lawsuit against Sir Allen Stanford | World news | guardian.co.uk

Jay Brewer Permalink | Comments (0) | social bookmarking
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