Casino Employees React To Tropicana's News
Workers Say Tropicana Bankruptcy Has Them Worried
POSTED: 3:29 pm PDT May 6,
2008
UPDATED: 9:29 pm PDT May 6,
2008
LAS VEGAS -- Could the city that some believe is "recession-proof" be suffering like the rest of the country?The Tropicana filed for bankruptcy on Monday, weeks after MGM Mirage cut hundreds of jobs.After 9-11, gambling revenues dropped 1 percent in 2002. But the Las Vegas Convention and Visitors Authority statistics show they've dropped 4 percent already this year.This is just one of the statistics that many workers said have them worried.Casino employee Eribe Geneciran said he's concerned about his friends at the Tropicana, and he wonders who is next.“I'm worried about it … I'm the same … I'm a worker. I want to earn a living, too ... for my family,” he said.Here are some facts: MGM Mirage eliminated more than 400 jobs recently. Projects like a second tower for the Trump endeavor are on hold, and LVCVA statistics show so far this year, conventions have dropped more than 10 percent.Strip workers said they're noticing the change in tourists.“They're all about cheap, for sure. What can I get for free? They always … ‘What can you give me? What can you give me?’” said casino employee Jennifer Miller.At the Tropicana, so far, there has been no word of jobs being slashed.The employees who've spent their careers in the casino industry are gambling that the city may be down on its luck a little, but will eventually bounce back.In the filing, Tropicana Entertainment listed its assets at $2.8 billion, half a billion short of its costs.
Previous Stories:
- May 6, 2008: Tropicana Files For Bankruptcy
- May 6, 2008: Monte Carlo Reopening Causes MGM 1Q Profit Dip
- May 5, 2008: Tropicana To File For Chapter 11
- February 5, 2008: Convention Cutbacks Could Cost Vegas
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