David G. Schwartz

Document Type

Occasional Paper

Publication Date


Publication Title

Center for Gaming Research Occasional Paper Series: Paper 17

Publisher Location

Las Vegas, Nevada

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Hitting with the force of a 100-year storm, the first two years of the financial crisis caused a $5.2 billion swing from profitability to loss for the top 22 performing Las Vegas Strip properties between peak fiscal year 2007 and 2009. By fiscal year 2011 visitor count had almost climbed back to peak levels but the aggregate loss is still stubbornly high at $ -1.6 billion. Other signs of recovery trickle in but are sporadic and volatile. This article is an attempt to disaggregate the variance and look at where Las Vegas has been, where it is now and how it got there to learn from this trying period and help manage the future.


Analysis; Financial crises; Financial crisis; Gambling industry; Global Financial Crisis, 2008-2009; Nevada – Las Vegas; Profitability; Recovery; Recessions; Tourism


Finance and Financial Management | Gaming and Casino Operations Management | Growth and Development | Hospitality Administration and Management | Social and Behavioral Sciences | Tourism and Travel