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Las Vegas Economy
 
 
 

The core of the Las Vegas economy have been the confluence of tourism, gaming and conventions which in turn feed the retail and dining industries. The city serves as world headquarters for the world's two largest Fortune 500 gaming companies, Harrah's Entertainment and MGM Mirage. Several companies involved in the manufacture of electronic gaming machines, such as slot machines, are located in the Las Vegas area. In the 2000s retail and dining have become attractions of their own. Tourism marketing and promotion are handled by the Las Vegas Convention and Visitors Authority, a county wide agency. Its annual Visitors Survey provides detailed information on visitor numbers, spending patterns and resulting revenues.

Some technology companies have either relocated to Las Vegas or were created there. For various reasons, the Las Vegas area has had a high concentration of technology companies in electronic gaming and telecommunications industries. Some current technology companies in southern Nevada include Bigelow Aerospace, CommPartners, Datanamics, eVital Communications, Petroglyph, SkywireMedia, Switch Communications and WorldDoc. Companies that originally were formed in Las Vegas, but have since sold or relocated include Westwood Studios (sold to Electronic Arts), Systems Research & Development (sold to IBM), Yellowpages.com (sold to Bellsouth and SBC), and MPower Communications.

Constant population growth means that the housing construction industry is vitally important. In 2000 more than 21,000 new homes and 26,000 resale homes were purchased. In early 2005 there were 20 residential development projects of more than 300 acres (1.2 kmイ) each underway.

The main tourist attractions in Las Vegas are the casinos. The most famous hotel casinos are located on Las Vegas Boulevard, better known as the Las Vegas Strip. Many of these hotels are massive, carrying thousands of rooms, with their large adjoining casino areas. There are many hotel casinos in the city's downtown area as well, which was the original focal point of the city's gaming industry in its early days. Several large hotels and casinos are also located somewhat off the Strip but adjacent to it, as well as in the county around the city.

Some of the most notable casinos involved in downtown gaming are on the Fremont Street Experience which was granted variances to allow bars to be closer together, similar to the Gaslamp Quarter of San Diego.

 

 
 

 



 


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