@Broadway -
actually being ground zero for the housing bubble didn't help Vegas either. I've always wondered why people want to build like maniacs in the middle of a desert. Vegas is a weird place.
Re: Dollars and Sense
Broadway
4/3/2012 2:44:18 PM
@Noreen, I stand corrected about tribal laws. I know the woman who manages risk for the tribe that owns Foxwoods. She is tough ... Which could also explain their no-nonsense liability policy at the casino. Didn't they even comp the old lady???
Re: Are There Pictures?
Broadway
4/3/2012 2:41:33 PM
Vegas is a great example of the "demand" for gaming. Last I checked, Nevada was one of the states hit hardest by the economy. Why? Because demand for the hospitality/gaming product that the state bets it's fortunes on has drastically reduced in the last few years.
@Noreen, we've all had those couple of beers and (hopefully) lived to be older but wiser in the process of facing our fears. For me, it was agreeing to go rock climbing in the Gunks (the Shawangunk Ridge) just outside of New Paltz. I was so nervous that I had to pull off the New York State Thruway three (3) times on the way to throw up. Even after living to tell the tale, I remain so terrified of heights that there aren't enough drinks on Planet Earth to get me skydiving.
I want to share a less dangerous instance that has led to a similar life lesson for MY children:
Years ago in the summer job I held between high school and college, I answered my colleague's question, "What are you doing tonight?" with the fateful reply, "Nothing." Next thing I knew, I had been recruited to sub in a BOWLING LEAGUE...for prizes of Blue Chip Stamps!
Well, to say I'm an awful bowler is like saying that Dick Cheney is a bad shot--an understatement of comical proportions. But here's the life lesson: Were the good folks of the Home Hospital Supply accounting department grateful to have a warm body rolling gutter balls so they didn't have to default the match? No-o-o-o! They spent all evening telling me to "Play better" or "Win us some stamp books" and cracking wise about where had anybody found the likes of me? Regrettably, I was too young to drink at the time but don't think it didn't cross my mind!
That night taught me--and I have slavishly taught my children--that when ANYONE asks what you are doing in any future timeframe, the correct reply is not "Nothing" but "Why do you ask?"
Put that gutterball (or climbing rope or parachute) in THEIR court and remember that NO good deed goes unpunished!
Ha @Street Smart. No photos or videos. But I do have two witnesses, who have never let me forget my lack of bravery when making my one and only jump. And to this day, I use it as an example to my kids: Do not make plans to do something you have little to no desire to do just because it sounds like a good idea over a couple of beers. Because sometimes, you cannot back out of those plans the next morning.
Re: Are There Pictures?
cat tail
4/3/2012 11:27:31 AM
Ugh! gambling apps. I can actually visualize them causing people to delay the departure of planes, like whats-his-name when he was playing Words with Friends.
Re: Are There Pictures?
driven
4/3/2012 11:22:58 AM
But right now, Nevada is still drawing in tourists from all 50 states and beyond. What if those gas station gamblers could gamble while filing up at home? Or better yet, play poker from their living rooms? And how many people move to Nevada just because they want to be close to the gambling? That may change if other states have gambling too.
@Noreen, are there any pictures or video of you hanging on for dear life to the wing of the plane? THOSE, I would like to see!
But seriously, you raise excellent points about accidents on sovereign tribal lands and I thank you for your research. I for one would NEVER have thought of that.
As for trying to quantify the demand for gambling, I think the state of Nevada offers a good illustration of how the culture there re-defines demand. Not only are there slot machines EVERYWHERE in Nevada--gas stations, the airport, restaurants, etc., but the number of games and the things that get bet on is forever growing. Don't forget, too, that one TOWN, Las Vegas isn't even enough. Lake Tahoe, Reno and Laughlin are huge gambling hubs as well.
I would argue that if traditional demand for big casino gambling ever starts to wane, the industry will morph to CREATE demand in new areas. Mobile gambling or gambling apps? Maybe not so far off...
And then the casinos may become, say it with me...too big to fail--with the little guy falling not on the steps but into addiction and debt. In the end, we might WISH for a broken leg!
There are ambulance chasing lawsuits, and then there are legitimate claims for payment of medical bills (and sometimes work loss) from a valid accident (ie when a casino worker running through a lobby contributes to an accident on walkway that's too steep for an disabled person, who then falls and breaks a bone).
The fact is that people have to be aware of risks. I realized when I jumped out of a plane (Ok - I got dumped off the wing when the pilot tilted the plane because I would not let go of the wing, but same difference) or rapelled of a bridge that I was taking calculated risks. I don't think people assume the same when they walk into a place of business, although they should be aware that they are risking their money when they enter a casino of any kind.
When I go abroad, I realize I am not subject to US law. And I pick and chose the countries I want to visit, knowing that and the laws they have.
When I enter a Native American casino, I should understand the same thing, and be both respectful and aware of Tribal Law.
Noreen,
I feel bad for this person, I hope they are okay. But are ambulance-chasing lawsuits really the measure of a fair society?
--Scott
The blogs and comments posted on Investor Uprising do not reflect the views of Investor Uprising, PRNewswire, or its sponsors. Investor Uprising, PRNewswire, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.
|
 |
Latest Blogs
Telecom-equipment maker Ciena is a stock trader’s dream, as long as the timing is correct.
The FTC is offering a $50,000 cash prize to the person or group that can come up with a solution to those annoying robocalls.
Akamai is in the middle of four significant tech trends.
John Malone of Liberty Media will be taking over Sirius XM satellite radio when the existing CEO Mel Karmazin steps down. What's it mean?
Demand for students of the humanities exists, despite widespread aspersions on the discipline.
IU Education
Resources to help you become a better investor
Investor Uprising on Twitter
25 market-moving companies we're tracking
|
Tweet This