Business Wars The Birth of Vegas | Can Sin City Survive? | 7
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Sep 1, 2021 Howard Stutz, an award-winning journalist with over 30 years of experience covering Las Vegas gaming, delves into the city's dramatic transformation. He discusses how the once mob-dominated landscape has morphed into a family-friendly entertainment mecca. Stutz shares insights on the challenges faced today, including the impacts of COVID-19, environmental concerns, and increased competition. He also highlights the ongoing evolution of Vegas, revealing what the iconic Strip might look like in the future amidst these hurdles.
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Mob's Casino Influence
- Bugsy Siegel's Flamingo, depicted in the movie Bugsy, exemplifies the mob's early influence.
- The Mob Museum in Las Vegas chronicles this era, showcasing how different mobs held hidden ownership stakes in casinos.
Vegas Revenue Shift
- The 90th anniversary of Nevada's legalized gambling highlights a shift in Vegas's revenue model.
- Non-gaming activities like hotels, entertainment, and dining now contribute 65% of the Strip's revenue.
Corporate Vegas
- The corporatization of Vegas casinos contributed to the decline of mob influence.
- Public companies like Harrah's and the Hilton Corporation acquired casinos, pushing out organized crime.