LAS VEGAS FACING THE CHALLENGE OF
INTENSE FOREIGN GAMING COMPETITION
AND LOOMING LABOR NEGOTIATIONS

2012 has all the makings of a potentially
tumultuous year for the gaming industry.
Union contracts expire for thousands of
Las Vegas casino industry workers this
year, and the negotiations may be tense
and drawn out.

Las Vegas casinos still face exploding
competition from Macau and Singapore and
possibly even from Miami and the Boston
area.

Internet gambling may be legalized within
Nevada and lotteries are spreading across
the countries, yet a record 40 million visitors
are forecast for Las Vegas in 2012.

A spokesman for an Atlantic City gaming
research firm says, "I don't recall a time
with so much turmoil, new projects, new
states coming online, clearly the industry
is going to be significantly different 5
years from now."

It is in the context of an increasingly
complex global gaming industry that the
Culinary Union local 226 will try to
negotiate new contracts for it's more
than 40,000 members at strip and downtown
gaming properties.

"The Las Vegas operators that have
positions in other parts of the world
now have opportunities to market all of
their properties, all of their offerings
to a wider demographic. The success of one
hub versus another does not mean that Las
Vegas has lost it's place in the gaming
universe."

For example, the MGM Resorts International
and the Las Vegas Sands attempting to lure
Macau customers to visit Las Vegas.

Las Vegas will continue to be one of the major
gaming centers in the world.

It's going to be very hard for other markets
to duplicate what Las Vegas has created and built,
in entertainment and the world's largest
convention industry."