From Dreamers to Empire Builders

But it wasn’t like the city just exploded overnight. No, it was a slower burn, a deliberate march south of downtown to what we now call ‘The Strip.’ That’s where the dreamers headed, where the land was plentiful and the sky was the limit. The Strip, conveniently beside the airport and ripe for development, was like a canvas for these ambitious souls. The days of simple motels and modest casinos were numbered. In their place, titans of industry would erect palaces of pleasure and luxury. It was a transformation captured in the pulse of progress, akin to go to this site, revealing each chapter of Vegas’s evolution.

Take Jay Sarno, for instance, the guy was a visionary. When he built Caesars Palace, he wasn’t just putting up a hotel; he was creating an empire. He wanted his guests to feel like royalty, to live it up like the Caesars of old. “If the majority of the people in the world could live like Caesar, they would live like Caesar,” he famously said. And boy, did he set the trend. More spectacles and themed resorts began to dot the Strip, each more grandiose than the last. It was a revolution in hospitality, a new era for Vegas, and it was just getting started.

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Then there was Kirk Kerkorian, the WWII pilot turned mogul. He saw potential everywhere. He took the Flamingo under his wing and used it as a stepping stone to build The International, the biggest hotel and casino of its time. His empire would eventually include the MGM Grand hotels, known for their luxury and scale. And let’s not forget Steve Wynn—this guy was practically born with dice in his hands. He turned the Golden Nugget into a gold mine and didn’t stop there. He brought Atlantic City a taste of Vegas luxury and then outdid himself with the Mirage, the Bellagio, and his other opulent creations, each one more spectacular than the last.

Heroes of the Strip like Kerkorian and Wynn wrote the playbook on what it means to be a business visionary in Vegas. They transformed the city into a beacon of splendor, with their mega-resorts and relentless drive for innovation. These titans didn’t just build hotels; they built dreams—dreams that would draw millions to the neon-lit wonder that is Las Vegas.

The Evolution of Sin City Into a Family Haven

Imagine this: It’s the booming ‘90s, and the iconic Las Vegas Strip is undergoing a transformation. Renowned resorts like the International, MGM Grand, and Bally’s are expanding skyward, bringing thousands more rooms into the neon skyline. But then, a curious shift begins; the city starts wooing a different crowd—the family tourists. Back in those days, if you were a gambler with kids in tow, you belonged to a mere 6 percent sliver of the visitor pie. Determined to fatten that slice, resorts doubled down on family-friendly themes and attractions that had kids’ eyes sparkling with delight. Picture the Mirage erupting in 1989, not with scandal, but with an “active” Volcano and enchanting Dolphin shows. Fast-forward to ‘93, and you have the storybook Excalibur, the enigmatic Luxor, and a revamped MGM Grand, adding over a whopping 10,000 new beds to the city’s count. This was the era of grandeur, with the likes of Circus Circus’s Grand Slam Canyon (now the Adventuredome) and MGM Grand’s own theme park opening their gates. Families could now drift down the Nile, joust with medieval knights at dinner shows, or scream with glee on a variety of theme park rides. But not everyone bought into this fairy-tale pivot. Mirage Spokesman Alan Feldman was quick to remind, “Las Vegas is an adult destination ... it has been for the better part of 60 years and will be ... for as long as any of us can see into the future” (Land and Land, 1999, p. 192).

So, did this bold “if you build it, they will come” gamble pay off? Sadly, not quite. The curtain fell on this act with Vegas seeing a minuscule rise in family market size—from 6 percent in ‘91 to a meager 8 percent in ’94. Turns out, the house didn’t win big this time. The families who did come spent considerably less than their adult counterparts; a mere $296 on gambling compared to the lavish $504 by those without kids. And it didn’t end there—those without the pitter-patter of little feet also outspent families on food, drink, and entertainment—the bread and butter of hotel revenue. Steve Wynn captured the sentiment perfectly, arguing that accommodating families is one thing, but dedicating resources to specifically entertain children is quite another (Dandurand, 1999, p. 1). It wasn’t long before Vegas decided to dust off its adult-only hat, gradually phasing out child-friendly themes and reverting to its adult playground ethos.

 

The Economic Downturn and Its Impact on Vegas

Let me tell you, the rise and fall of Las Vegas’s fortune is like watching a high-stakes game of poker—it’s all about the hand you’re dealt. The city’s survival and evolution have been deeply intertwined with the wider American economy, relying heavily on the pockets of visitors ready to splurge on gambling and entertainment. Take the 1930s, for example; the Great Depression hit everyone hard, but for Vegas, it was the construction of the Hoover Dam that turned its luck around. Fast forward to the late 20th century, and the city was booming, with an explosion of resorts and an influx of people. But then the Great Recession of the late 2000s came knocking, ready to call Vegas’s bluff.

Walking the Strip during that time was like seeing a game paused halfway through—unfinished giants stood as reminders of halted progress. Boyd Gaming’s Echelon project, set to replace the demolished Stardust Resort and Casino, was put on an indefinite freeze, leaving a vacant lot for the better part of a decade. The Fontainebleau Las Vegas, a grand $3 billion project, became a towering symbol of paused dreams. The near-collapse of the ambitious $9 billion CityCenter project was a cliffhanger, saved only by a refinancing deal. The city’s heartache wasn’t just in halted buildings either; unemployment soared to 14 percent, bankruptcies were through the roof, and many homeowners found themselves underwater on their mortgages. Yet, despite taking this beating, Las Vegas wasn’t down for the count.

Even while grappling with the recession, Las Vegas kept its neon lights on, ready for the next round. Growth picked up again, with Vegas outstripping both Nevada and the national average in economic recovery. Unemployment rates bounced back to about 5 percent, and while gaming revenue hasn’t quite hit its jackpot era peak, casinos doubled down on diversifying their offerings. From world-class dining and spectacular shows to the push for more convention business, Vegas was betting on more than just the slots to sustain its future. Predictions of another recession loomed, but this time, Vegas was playing a different game, one with a strategy set on weathering any storm.

Changing the Game: Vegas’s Shift in Strategy

The Strip, with its dazzling lights and monumental resorts, was always a sight to behold, but beneath the surface, a strategic shift was taking place, a shift that became even more pronounced during the Great Recession. As someone who’s visited Vegas more times than I can count, I’ve noticed that it’s no longer just about the clink of coins and the shuffle of cards. With casinos popping up all over the US, the allure of Vegas needed more than just the gamble. Gaming revenue had taken a hit, dropping 7 percent since 2007, with gambling now contributing a mere 34 percent to the Strip’s income.

It was clear that Vegas had to reinvent itself or risk folding. Resorts started to up the ante with lavish bars, electrifying nightclubs featuring top DJs, high-end restaurants in cahoots with celebrity chefs, and entertainment that left you spellbound. Since 2007, the city has seen an influx of over 17,000 rooms, with a staggering $10 billion reinvested into revamping its offerings. The new Vegas was about the experience, the ‘wow’ factor that would draw in crowds for more than just a spin on the roulette wheel. With this transformation, projections even suggest that room revenue could outpace gaming by 2020—food, beverage, and entertainment becoming the ace in Vegas’s sleeve. The city learned its lesson: to stay in the game, you have to keep evolving, and that’s exactly what it’s doing.

Envisioning Las Vegas’ Tomorrow

Imagine a city that blossomed in the heartland of the Mojave Desert, a city that has danced to the rhythm of a dynamic history. Las Vegas, a canvas of human ingenuity, has been shaped by geological wonders, pioneering infrastructures, economic waves, and the sheer force of visionaries at the helm of influential empires. Is it possible, then, to peer into the future using the lessons of yesteryear? Could the winds of change that have previously swept through Las Vegas surge once more, guiding us towards the city’s destiny? Let’s embark on a journey through time, mingling the echoes of Las Vegas’ past with the whispers of what may come, as recent developments add color to our forecasts.

The Uncertain Horizon: A Desert Running Dry

Water was the lifeblood that gave rise to the Las Vegas we know. Forged in the desert’s heart, the city’s lifeline has been its access to the pristine waters that over two million souls depend on. The Hoover Dam, standing as a testament to human resolve, alongside its life-giving Lake Mead, are the cornerstones of existence in this desert oasis. If these were to falter, Las Vegas’ future would falter with them, its population dwindling, its allure as a tourism hotspot fading into the sunset. Recently, a 15-year drought has clawed at Lake Mead, leaving it a mere shadow at 38 percent capacity. Although Las Vegas itself has been spared the worst, the Colorado River—its arterial water source—has been suffering from reduced snowmelt since the dawn of the millennium, threatening the replenishment of the reservoir. With a projected population boom to over 3.2 million by 2050, the thirst for water will only grow more desperate.

Yet, there’s a glimmer of hope on the horizon. Local authorities, fully aware of the gravity of water scarcity, have implemented radical measures: all indoor wastewater is recycled back to the lake, ornamental lawns have been outlawed, and water-efficient fixtures are now the law of the land. These initiatives have borne fruit; as Las Vegas grew from 1.6 to 2 million residents, water consumption plummeted by a staggering 33 percent. Moreover, the Southern Nevada Water Authority’s ambitious proposal to construct a 250-mile pipeline from Northern Nevada could be a silver lining, albeit one tangled in legal intricacies. Still, the ultimate adjudicator of Las Vegas’ fate may well be climate change, and the severity of its impact on the region and its precious water resources. Hope is in the air, but reality’s harsh embrace remains ever-present.

The Path Ahead: A Kaleidoscope of Possibilities

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Turning the pages to Las Vegas’ more recent chapters of opulent transformation and the quest for diversity, the city seems poised to continue its stride down the current boulevard of dreams. Eager to captivate millennials and the convention crowd, and faced with the need to broaden its horizons beyond the glittering casinos due to the nationwide spread of legal gambling, Las Vegas is set to unveil novel entertainments and expansive event hubs that cater to an eclectic audience, wrapping them in an immersive cloak of luxury.

The city’s entertainment heartbeat in the near future will be fueled by an intensified focus on star-studded residencies, cutting-edge venues, and a warm embrace of professional sports. The trend of banking on residencies to attract the crème de la crème of performers is gaining momentum. MGM Resorts’ Park Theater, for instance, has rolled out the red carpet for icons like Lady Gaga, Aerosmith, and Britney Spears. Further up the Strip, the anticipated “MSG Sphere Las Vegas,” a brainchild of the Sands Corporation and Madison Square Garden Company, promises to revolutionize the arena experience when it opens its doors, featuring ground-breaking technological marvels that will elevate guests’ senses to new heights. Las Vegas is also entering the sports arena as never before, welcoming the Vegas Golden Knights and the Aces to its fold, and eagerly anticipating the arrival of the Raiders with their soon-to-be home in a dazzling new 65,000-seat stadium.

Not one to lag behind, the Strip is also vying for a lion’s share of the booming convention business. Resorts have been investing heavily to expand and erect new convention spaces, a trend that shows no signs of slowing down. The Aria has recently unveiled a $170 million expansion, while the MGM Grand is currently enhancing its conference center. The Las Vegas Convention Center itself is adding an enormous 600,000 square feet of exhibition space to its repertoire. This is merely the tip of the iceberg, with at least eight projects set to add an additional 2.5 million square feet of convention space by 2021, catapulting Las Vegas’ total convention space to an astonishing 14 million square feet. The city continues to redefine itself, painting its future with broad, ambitious strokes.

Bracing for Impact: Navigating the Next Downturn

There’s a certain rhythm to the economy, a pulse that hints at a downturn every so often, and history whispers that since the ‘70s America has felt the sting of a financial downturn roughly every seven years. The forecast is gloomy around 2020, with whispers of a recession already making rounds. If the forecasters have it right, we’re in for one of the longest expansions in our history. And when that downturn hits, it’s the discretionary spending—our fun money—that’s going to shrink. That’s bad news for a city like Las Vegas, where the thrill of leisure and entertainment isn’t just a pastime; it’s the lifeblood of the region. A staggering 30 percent of jobs in Southern Nevada revolve around tourism, a number that towers 17 percent above the nation’s average. The biggest names on the employer list? They’re all playing the tourism game (Meurer, 2016).

However, I’ve heard talk that this time, Las Vegas is suiting up for the storm. Post-recession, Nevada was scraping the bottom of the barrel, ranking 50th in job creation. Fast forward to now, and it’s like we’re looking at a whole new deck of cards—Nevada is topping the charts, creating opportunities in education, healthcare, professional services, boasting 50K more jobs than the days before the recession hit. The Strip hasn’t been sleeping, either. There’s a buzz of activity with renovations at Park MGM and Palms, expansions at the Las Vegas Convention Center, the rise of The Drew Las Vegas, Resorts World Las Vegas, and the Raiders stadium taking shape. These power plays are slated for completion around or before 2020, setting up streams of revenue to flow even in the lean times (Wargo, 2018).

The Next Powerhouse: Embracing Solar Energy

Looking back to look forward, Las Vegas has always been a city of monumental change, its destiny often shaped by monumental projects. The Hoover Dam is a testament to that. Now, it’s like we’re standing at the crossroads again, peering into a future where Las Vegas could redefine itself once more, this time with a leap into the solar energy arena. We’re smack in the middle of the Mojave Desert, basking in nearly 300 days of sunshine a year. It’s the perfect stage for a solar revolution, with the plummeting costs of solar panel construction making it all the more enticing. We’ve got our eyes on those federal lands just north of the city, ripe and ready for some solar magic (Seeman, 2018). These kinds of ambitious projects could be the new veins pumping life into Vegas, easing our dependency on the Hoover Dam’s hydropower.

But the sun’s dance with the moon brings challenges; solar energy needs to find its way through the night. And here’s a stroke of genius from the Los Angeles Department of Water and Power: they’re dreaming up a plan to turn the Hoover Dam into a colossal battery. Picture this—you’ve got wind and solar energy pumping water back up to the reservoir during the day, then, come nightfall, it rushes down through the turbines, lighting up our lives. It’s a vision with a hefty price tag of over $3bn, and a finish line set for 2028, but it’s a beacon of hope for affordable, efficient, and sustainable energy storage (Penn, 2018).

Revival of the Rails: The Quest for High-Speed Travel

The railroad, a herald of progress, once ignited the spark that transformed Las Vegas into a beacon of opportunity and leisure. Imagine if history were to echo itself, where another monumental transportation venture could propel Las Vegas into a new era. Entrenched in its solitude, Las Vegas stands as an oasis, distant from the thrum of other urban hearts. Los Angeles, the titan of metropolises, with over 13 million souls, lies 250 miles to the southwest—a significant source of the over 42 million who grace Las Vegas with their presence annually. A staggering 29 percent of these visitors hail from Los Angeles, with the vast majority navigating the long drive (Akers, 2017). Since 2009, dreams of a high-speed rail have danced on the horizon, yet the visions await the embrace of the golden wand of funding to leap into reality.

However, the winds of change may be whispering promises of transformation. Political landscapes can shift with the ebb and flow of elections, and while a Chinese joint venture crumbled, the door remains ajar for either China or Japan—titans in the realm of high-speed rail innovation—to step forward. The advent of a high-speed rail would shrink a weary 4-hour drive to a mere 2-hour jaunt, potentially ushering in a significant surge of visitors from this crucial demographic (Akers, 2017). On a more fantastical note, imagine if a visionary like Elon Musk were to unfurl the blueprints of his vaunted Hyperloop, turning Las Vegas into a stage for a transportation revolution, dazzling potential investors from every corner of the globe with its prowess.

Birthing the Next Visionary Giant: Las Vegas’ Potential Patron

In the annals of Las Vegas’ storied history, magnates like Howard Hughes have sculpted its skyline and soul. It’s conceivable that a mogul, perhaps hailing from the affluent enclaves of California or the burgeoning cities of China, lured by the siren call of Las Vegas’ tax haven and liberal policies, could claim this desert jewel as their own. This migration of affluence, akin to Hughes’ legacy, could herald the genesis of utopian communities that conjure visions of Summerlin—a testament to the harmony of luxury and livability. These futuristic enclaves could very well become the standard-bearers of the 21st century, brimming with avant-garde amenities. Coupled with Las Vegas’ alluring cost of living, such residential paradises could beckon corporations to lay down roots in the desert sands, fostering a diverse and robust economy replete with opportunities.

Imagining Las Vegas: A Continuing Saga

The tale of Las Vegas is one of resilience and reinvention, a city that has captured the world’s fascination—a mirage turned reality, conceived by the infamous and graced by the celestial. Within its bounds, the party never dwindles; it’s an eternal carnival of chance, a symphony of revelry and spectacle. Las Vegas is a phoenix, perpetually rising from the ashes of yesterday’s dreams to seize the potential of the morrow. As Hal Rothman, erstwhile chair of the University of Las Vegas’ history department, eloquently mused, “Las Vegas is unburdened by what was, or what is. It’s the allure of what could be that captivates us” (Heilman, 2013, p. 1).

Essential Readings and Resources

When I stumbled upon Akers’s insightful article from 2017, titled “Despite funding issues, projections rosy for high-speed train linking Las Vegas, Victorville,” I was engrossed by the optimistic future it depicted for transportation in the area. It’s a must-read available on the Las Vegas Sun website and it really opened my eyes to the possibilities, even when everything seems against the odds. You can find it here, a resource I accessed back on a warm day in August of 2018.

Amer, Daim, and Jetter’s 2013 review on scenario planning published in the journal Futures, volume 46, pages 23-40, is a cornerstone in my research. It provides a comprehensive overview and can be found on ScienceDirect’s comprehensive journal archive.

Running into Davidson’s 2018 article about the MSG Sphere Las Vegas gave me a glimpse into the burgeoning development projects in the city. This article, available on the Review Journal’s website, illustrates just how close developers are to breaking ground on this state-of-the-art venue. I revisited the article on a cold day in January 2018, and it filled me with anticipation for what’s to come.

I remember poring over Faiss and Gemignani’s profound work, “Nevada gaming statutes: their evolution and history,” which is part of the Center for Gaming Research’s Occasional Paper Series No. 10. Their research offered me a historical depth that I couldn’t find anywhere else, illuminating the roots and development of gaming laws in Nevada.

The article by Heilman in 2013 from Meetings Today, titled “Las Vegas is all about reinvention,” truly resonated with me. It’s a testament to the city’s ever-changing nature and resilience, something you can feel pulsating through the streets. This piece, accessible online, was one of the many references I accessed during a hot summer day in 2018.

Hogan’s 2016 narrative “Strip left reeling: picking up the pieces after the great recession” on the Review Journal’s special features section painted a vivid picture of the hardships and recovery of Las Vegas post-recession. Reading it on a calm January day in 2018, it was a stark reminder of the resilience that defines this vibrant city.

Leafing through Land and Land’s “A Short History of Las Vegas” by the University of Nevada Press in 1999 felt like traveling back in time. It’s a comprehensive dive into the past, offering a succinct yet rich history that’s simply invaluable.

Lee’s 2004 piece on CNN Money about Las Vegas returning to its sinful roots caught my eye one summer day in 2018. The article outlined how the city was booming, rebranding itself as an adult destination—a fascinating read that showed how the city’s tourism strategies adapt with the times.

The LVCVA’s Year-End Summary for 2017 was a gold mine of statistics and facts that I accessed in August 2018. Their detailed reports on visitor statistics were invaluable for understanding the trends and patterns of Las Vegas’s tourism industry.

When I delved into McCallister’s 2012 master’s thesis about the shifting of the Las Vegas tourism industry, it felt as though I was uncovering a part of the city’s soul. The historical perspective and focus on management and resort revenues provided an academic yet approachable insight that was both enlightening and deeply relevant.

I vividly recall reading Meurer’s 2016 piece on recession-proofing Las Vegas. It was a thought-provoking article that outlined strategies to fortify the city’s economy against potential economic downturns. It’s an enlightening read I found on the Review Journal’s neon rebirth section and revisited in the early days of January 2018.

Diving into Nevada Humanities’ 2004 article about Hoover Dam’s impact on Las Vegas was like unlocking a chapter of the city’s legacy. The dam’s influence is monumental, and this resource offered a well-rounded view on its significance. I found myself engrossed in the article one summer afternoon in 2018.

Papa’s 2009 book It Happened in Las Vegas: Remarkable Events that Shaped History, published by Globe Pequot Press, is a treasure trove of stories that define the city’s colorful past. Each account is a window into events that have left an indelible mark on Las Vegas.

When Penn’s 2018 article on the ambitious $3 billion plan to turn the Hoover Dam into a giant battery appeared in The New York Times, I was captivated. It’s a groundbreaking idea, and reading about it on a chilly January morning gave me hope for sustainable energy solutions in the region.

Prince’s 2018 coverage on Aria’s convention space expansion, with its hefty $170 million investment, showcases the city’s indomitable spirit of growth and luxury. The Review Journal’s business section provided the first glimpse of this massive undertaking, highlighting just how much the city continues to evolve.

Richard’s 2017 article from the Journal of Tourism Futures contemplated the survival strategies for hotel chains in a dynamic future. The insights within, emphasizing adaptability and foresight, offered a profound perspective on an industry at the heart of Las Vegas’s economy.

The literary exploration of future festival consumption by Robertson and Yeoman in 2014, found in the Tourism Recreation Research journal, painted a futuristic picture that sparked my imagination. Their volume 39 publication provided a visionary outlook on the evolution of cultural events.

Robison’s 2015 proclamation in the Las Vegas Review-Journal, “Water isn’t a worry when it comes to Las Vegas growth,” provided a much-needed sense of reassurance. In a city that thrives in the desert, understanding the intricacies of water management is more than just educational—it’s critical.

Rodzvilla’s 2018 biography of Kirk Kerkorian, titled The Gambler, was a riveting read from Dey Street Books. It’s the story of a man’s journey from rags to riches, fitting perfectly within the narrative of Las Vegas, a city that has seen its fair share of dreamers and high rollers.

Rothberg’s 2017 piece on Southern Nevada’s push for a 250-mile water pipeline captured my attention with its clarity and urgency. The article, found on News Deeply, reminded me of the unending challenges and the innovative spirit that drives the region forward.

Rothman’s Neon Metropolis is a tome that I believe everyone interested in Las Vegas should delve into. Published in 2002 by Routledge, it provides a detailed narrative of how Las Vegas entered the twenty-first century, painting a picture of a city always on the forefront of change.

My eyes were glued to Schulz’s 2018 article about the continuous growth of Southern Nevada since the great recession. The Las Vegas Review-Journal piece was a testament to the city’s incredible ability to bounce back and continue thriving against all odds.

Discovering Schwartz’s 2017 Vegas Seven article about how Las Vegas’s hospitality has transformed over seven years was like finding a piece of a puzzle. It offered insight into the shifts and turns the city has taken to remain at the pinnacle of hospitality and entertainment.

Reading Seeman’s 2018 announcement of a new 7,100-acre solar project for the Las Vegas area was a breath of fresh air. It was a forward-thinking initiative that promised to harness the desert sun’s power, as noted in the local news outlet News3LV.

Thomaselli’s 2016 column in Travel Pulse about how so-called ‘morons’ assist in the continual reinvention of Las Vegas was a quirky yet poignant piece. The article provided a unique take on the city’s evolution and its ability to reinvent itself time and again.

The in-depth review by Varum and Melo on the directions in scenario planning literature, as presented in their 2010 Futures journal article, offered me a comprehensive understanding of the past decades. It’s an essential read for anyone interested in the analytical forecasting of future trends.

Wargo’s 2018 piece on the booming comeback of Vegas’s economy post-recession, as seen on Business Press Vegas, gave me hope. It was a clear signal that the city was not only recovering but truly thriving and setting the stage for a prosperous future.

Reading Wilen’s 1999 article from the Las Vegas Sun about LV historians compiling top gambling events felt like connecting with the very essence of the city. It was a nostalgic journey through the events that shaped Las Vegas into the gaming mecca it is today.

The 1993 Environmental and Engineering Geoscience journal article by Wyman et al. on the geology of Las Vegas was an informative read that gave me a greater appreciation for the land on which this glittering city stands. It offered a scientific perspective on what lies beneath the neon lights and bustling streets.

Finally, Yeoman and McMahon-Beattie’s work on the future of luxury and exclusivity, published in the Journal of Revenue and Pricing Management, provided an eye-opening look into the shifts and trends shaping the industry. Their articles from 2014 and 2018 delved into the mega drivers and new faces that are redefining what luxury means in a modern context.

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