Fireworks explode over the Las Vegas Strip as people from around the world celebrate on Las Vegas Boulevard Jan.1, 2007.
(Tiffany Brown/AP Photo)More Photos
Until recently, owning even a small casino, like the Speedway Casino off the Las Vegas strip, seemed like a license to print money. But times have changed.
"The guy who came in with 50 bucks in his pocket six months ago maybe has $20," said Seth Schorr, owner of the Speedway Casino. "So they're still looking for a form of entertainment. They still want to escape the day-to-day grind; they simply just don't have as much money to spend."
The drastic fall in spending hurts everyone. Not just the owner but cocktail waitresses like Sandra Harvey.
"Well, I used to take a food tray out and maybe 20 or 30 drinks on my tray, and I'd probably get a $1 for each of my drinks," said Harvey. "But now I'll be out there with a tray of 20 or 30 drinks and I'll come back with $4 or $5. So it's a big difference."
The desperate times called for drastic action. "We've had to lower prices, give more value -- cheaper beer," said Schorr. "We have a great, great steak and shrimp special for $3.99."
Even the world-renowned Cirque du Soleil is experiencing a downturn. Until recently Cirque du Soleil's "O" show was sold out, playing to packed houses twice a day. But now there's a palpable sense of deja vu.
"For us, the climate here in Vegas, it's similar to right after Sept. 11," said Jack Kenn, Cirque du Soleil manager. "There was that very uncertain time, and nobody knows what's going to happen. It's a very vulnerable position."
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