So many stats proving you wrong if you are comparing Vegas to other US cities and companies.Originally Posted by Dive_Bar_Dave
What is “sky high unemployment and foreclosures”?
You are so focused on one city, like the clickbait artists you seem to love. It’s the LOW END broke Ham & Eggers that aren’t coming as the numbers prove. And yes, less low end bargain seeking customers coming will effect jobs but it’s no different than the US in general.
Just a few inconvenient truths to the narrative you and the clowns you listen to are pushing.
Wynn stock up almost 50% YTD, yes they have other interests than Vegas.Not struggling
https://www.marketwatch.com/investing/stock/wynn
Venetian parent beat earnings per share estimate by 43% and revenue up 15% in Q2 Not struggling
https://www.tipranks.com/stocks/lvs/earnings
Caesars stock is DOWN in the past year. One could argue this is where the low end customer not coming is hurting the most however the company is so far in debt and poorly run, all are contributing to their poor performance.
MGM like Caesars has lower end properties in Vegas but they also have more higher end as well. Their stock is up 18% year to date beating the 10% of the S&P.
While a company is only as good as your last quarter and Q3 might be down, the market usually is good at anticipating potential issues and in the case of 3/4 of these stocks they aren’t overly concerned.
Highest US cities for foreclosures, Las Vegas is not in Top 5 but Nevada is almost tied with Florida in another measure as a percentage. I do expect this to become a bigger issue when the Q3 numbers come out across the board. This is National problem, not a Vegas one.
https://www.attomdata.com/news/most-...ates-by-state/
Unemployment? July numbers show Nevada at 5.4% is just behind California (5.5%) for worst in the nation after DC, which is obviously the government jobs being eliminated. Michigan is 3rd at 5.3%. By city Vegas is not in the top 10 at 6.0%. Again a national issue by state and no one is saying California’s UC rate is “sky high” compared to the national average of 4.2%.
https://usafacts.org/answers/what-is...united-states/
Vegas has its share of issues with pricing but for the 100th time it’s overblown and getting attention from opportunistic grifters because of the special place it has to many. And those who are hurting and can’t afford to get there as often are giving them fuel for the grift fire. After all, doing videos on the financial situation in Detroit isn’t going to provide the clicks these “influencers” need to keep sitting on their ass. And we all know the national media is lazy as fuck and loves easy stories.
#factsmatter
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