| | |  | Last Updated: Wednesday, February 27, 2008 |  | | | Gambling in Vegas Remains Unfazed By Gas Prices
- Wednesday, 12 Oct 2005
The rise in gasoline prices has had a resounding effect on global economy. However, experts predict that at least one industry will remain virtually unaffected as a result of the recent increase. Truism experts dismiss claims that the Las Vegas gambling industry stand to suffer as a result of the rise is gas prices. There are some intriguing statistics that reinforce their claim. During the first 8 months of 2005, when gas prices increased by 40% in California, people kept visiting and gambling in Vegas in record numbers.
A recent study conducted by the MRC Group Research Institute reveals that 48% of the people participating answered that will be deterred by gas prices when planning a vacation in one of Vegas’ gambling retreats. However, experts dismiss the findings of this study claiming that Vegas tourism will remain unaffected and so will the gambling revenues that Vegas’ casinos generate. They believe that tourists will adjust their budgets to compensate for higher gas prices, which will still enable them to enjoy all the gambling activities Vegas has to offer.
Yvette Monet, a spokeswoman for MGM Mirage gambling resort says, “We've seen steady increases in the price of gas for nearly a year now, and our experience shows that drive-in visitors from California and elsewhere are factoring the increased prices into their vacation budgets and continue to make the trip to Las Vegas”.
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