Las Vegas Sands Corp's chief operating officer has declared Las Vegas recession resistant, saying it is unlikely suffer a significant decline if the American economy should suffer the economic downturn analysts anticipate.
"One of the last things people want to do is stop enjoying themselves," William Weidner said at the Reuters Travel and Leisure Summit in Los Angeles.
He noted that domestic vacation destinations are generally more appealing to Americans than foreign travel with its unfavorable currency exchange rates, and that gambling is always an attractive option for many people. He emphasized that the city's bustling convention business would ensure that professionals continue to pop in regularly.
The Sands recently opened its new Palazzo resort, which Weidner calls "a real bargain", next to its high-end Venetian hotel-casino. The strip will also see the opening of MGM Mirage's sustainable CityCenter urban living complex and Boyd Gaming's Echelon Place in the next few years.