Vegas aficionado here. It’s going to get even worse for Vegas in December when City Center comes on line with 2,650 new condos and 4,800 hotel rooms. It is the largest privately financed development in the US with a total cost of $11 billion (wtf?!). The project almost came to a halt a few months ago when Dubai World sued over a $200 mil financing dispute. MGM had to sell the Treasure Island Resort for $775 million to raise money to complete it. Now the project is back on track. Good thing because it would have been a massive skeleton of Blade Runner sci-fi otherwise. Then right after that Fontainebleau comes on line with its 3,889 rooms.

Adding 8,000+ rooms when the city is having trouble filling its existing ones? Supply, meet demand.

These were the mega-resorts planned and financed right at the peak of the bubble when “growth would continue forever” and all of the douchebags invaded and got drunk off their $800 bottle service and $90 buffets. Vegas is and was the perfect microcosm of the excess of the past decade.

Hopefully this returns Vegas back to the cheap little getaway it used to be with its $1.99 steak & lobster dinner, 3:2 Blackjack, $29/night room rates, and quality customer service. All of that was thrown out the window over the past 10 years, and I have a feeling that Vegas is going to need to bring it all back in order to survive.