The Year in Preview
Question: What has a longer digestion cycle than the Anaconda? The answer is Las Vegas, which is still absorbing the 10,000 new rooms opened on the Strip and elsewhere in 1997, a 9.9% increase. Unfortunately, visitors increased by only 3.2%. Will there be more indigestion in 1998? Quite likely, with the planned opening of Mirage Resorts’ sumptuous Bellagio (3,000 rooms), Hilton’s Paris (2,900 rooms) and a Strip project by Circus Enterprises (4,000 rooms). Small wonder that gaming stocks are expected to remain under-performers for the foreseeable future.
