In Slump, Vegas Pushes Escapism

Vegas prepares for 'cutter' scam

(NEWSER) - Las Vegas casinos are readying their defenses against a group of baccarat cheaters, the Las Vegas Sun reports. The group, known as "cutters" and described by police as "extremely well-organized," are thought to have stolen tens of millions from casinos worldwide. They take advantage of the baccarat custom in which the dealer allows a player to cut the deck after shuffling. Using a tiny camera embedded in a sleeve or cufflink, the "cutter" spreads the cards slightly, videotaping their suit, value, and order. More»

Tunnel dwellers trade danger of drowning for a little comfort

(NEWSER) - Flood tunnels beneath the casinos of Las Vegas seem an unlikely place to call home. But that’s exactly what they are to an estimated 700, including some who’ve built surprisingly elaborate makeshift dwellings in the 350-plus miles under the city. The Sun describes the “home” of couple Steven and Kathryn, who have a double bed, bookshelves and even a shower—made from a drinking-water dispenser. More»

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

(NEWSER) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of course, gambling—is the “single biggest hiring opportunity in the history of the US,” a rep tells Time, and with Nevada’s 13.2% unemployment, its December opening can’t come soon enough. More»

(NEWSER) - The many states hoping gambling will revive their troubled budgets are in for an unpleasant surprise, writes Nate Silver for Esquire. Gambling is supposed to be recession-proof, but that hasn’t been the case this time. "The year 2008 was the first time in history that total casino gaming revenues declined throughout the United States," writes Silver, of FiveThirtyEight.com fame. In Las Vegas, they were down a whopping 12%, and they’ve fallen another 15% this year. More»

(NEWSER) - Casinos are making big bank off the tiniest—and oft-most derided—denomination, USA Today reports. Gambling outfits have added penny slots at an amazing rate—in the last 2 years, Nevada has removed 12,000 more costly machines to make room for 7,000 penny slots—and the move has paid off. In Missouri, for example, penny bets make up 42% of the total and a whopping 63% of casino profits. More»