LAS VEGAS (AP) They're called "the cooler crowd," and Las Vegas is greeting them with ambivalence: A stream of post-recession tourists ready for fun but watching their wallets.
They gamble less extravagantly than the typical visitor of the past, skimp on tips, sometimes lug coolers and microwaves into their hotel rooms to save on drinks and meals. They're a mixed blessing in a state hit as hard as any by the economic downturn and still struggling to recover.
They're not the only visitors, of course.President Barack Obama and his Republican rival, Mitt Romney have been here, competing strenuously for Nevada's six electoral votes in what is one of the most contested states. The candidates, too, have gotten a mixed reception. Some kingpins of the gambling industry are writing big campaign checks, but many Nevadans have other matters on their mind, namely foreclosures, layoffs, wage cuts, medical bills. At the MGM Grand, one of the 30-plus lavish gambling resorts along the Las Vegas Strip, bell captain Craig Houston gets a good look at both the high rollers and the "cooler crowd" streaming into the grandiose lobby. Though many visitors are stingier than in the past, the flow of visitors has rebounded to pre-recession levels, and industry analysts say 2012 could end with a record. By some measures, Houston is fortunate. In the state with the highest jobless rate, at 11.6 percent, he's back at work after being laid off from another resort in 2008, going through bankruptcy and losing his home. He's now a renter, and he tells his grown sons to stay out of the casino business. "You get upset that you're not making the money you used to," he says. Houston, 50, says he's weary of political bickering and wishes for more focused efforts to boost the middle class. He's not overwhelmed by Obama's performance, but expects to vote for him anyway.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV