Tuesday, March 10, 2009

OMG! Great Economic News From Vegas!

Hahahaha....just funnin' ya. What, you think it's 2007 or something?

The January year-over-year data is out from the LVCVA and I'm not going to bother you with the depressing details. That, after all, is the Review-Journal's job. All I'll say is that I searched for a silver lining and the best I could come up with is that convention attendance in Laughlin was up a whopping 14.6 percent. God knows -- or cares -- why. If spending time with crappy economic stats is your idea of a thrill, then go read the LVCVA's report for yourself.

If you're delusional, you might take comfort in February real estate data, which showed a 108 percent rise in single-home sales in Las Vegas versus February 2008. Sounds great until you realize that the median value of those homes fell almost 37 percent in the same period.

All that said, the stock market was kind to Vegas today. Heck, MGM Mirage even hit $3 a share for a moment and closed up 23.18 percent at $2.87. Wynn Resorts did better, though, rising 25.4 percent, to $19.50. Woo hoo. Happy days are here again!

[Photo credit: Make Things Interesting]