Las Vegas, the city that once epitomized excess and endless entertainment, is facing an unsettling shift. The Las Vegas Strip, once a bustling hub of tourists and high-stakes gamblers, now feels eerily quiet. Something has changed in the heart of the city, and the glimmering lights no longer mask the deepening issues beneath the surface. For the first time in decades, the truth is out: Las Vegas is struggling, and it’s not just about lower visitor numbers or slow weekdays. Behind the flashing lights and extravagant hotels lies a plan to change what Vegas stands for, and it’s one that is shaking the very foundation of the city’s identity.

The recent revelations have come straight from the mouths of the top executives who run the city’s largest casinos. On a recent earnings call, the CEO of Caesars Entertainment shocked investors and the public alike when he admitted that the company was intentionally “kicking out” the city’s poorer customers. This wasn’t a quiet move made behind closed doors. It was a statement made to shareholders as if it were the most natural course of action in the world. And he’s not alone in this thinking.

For decades, Las Vegas has prided itself on being a place for everyone—where the plumber could sit next to the businessman, where the everyday person could walk into a casino and feel like a high roller. But that has changed. According to reports, the shift began when casinos started focusing their attention on the wealthy, catering to high-end clients who could drop large sums of money at the drop of a hat. The idea was to chase after the ultra-rich, but in doing so, they alienated the average gambler—the one who would spend a little here and there, play a few rounds of blackjack, and grab a drink while enjoying the excitement of the casino floor. The working-class clientele that once fueled the city’s economy is now being pushed out, making way for a select few.

This isn’t just about a business decision. It’s a complete transformation of what Las Vegas was built on. It was always meant to be a playground for everyone, where the thrill of gambling, the spectacle of shows, and the luxury of high-end dining were accessible to all. But now, the dream of Vegas as the place where anyone could win big, where anyone could be part of the action, is slipping away. The focus has shifted. The old Vegas, where every hotel and casino was a symbol of opportunity for the average person, is being replaced by an exclusive, luxury-driven experience where only the wealthy can truly thrive.

The problem, however, isn’t just the change in clientele. It’s the ripple effect that this shift is having on the city’s economy. With the decline in tourism and fewer people willing to gamble the same way they once did, the hotels and casinos are seeing a sharp decline in revenue. Resort fees have skyrocketed, parking charges are now standard, and even the most basic amenities come with a price tag that is impossible to ignore. What was once a city where you could get a $5 steak dinner has now become a place where even a simple cocktail will cost you $30. What happened to the Vegas that welcomed everyone?

The numbers tell the story of a city in decline. In June 2023, tourist numbers dropped by 11.3%, with 1.5 million fewer people walking the Strip compared to the previous year. The occupancy rates for hotels have fallen significantly, with some properties struggling to fill even 80% of their rooms. The empty parking lots, the vacant tables, the abandoned slot machines—all speak to a growing problem that executives are too afraid to address. The infamous “two-day city” phenomenon has taken over Vegas: alive on weekends, but deserted during the weekdays. What happened to the 24/7 city that never sleeps? Now, it seems like the only people still showing up are those attending corporate conventions or high-rolling special events, who spend far more money than the average tourist but fail to capture the true essence of what made Vegas unique.

The city’s attempt to replace regular tourists with corporate events and wealthy clientele isn’t paying off as expected. Despite the influx of high-ticket events like Formula 1 races, where each visitor spends up to $1,500 a day, the broader gambling sector is faltering. The big spenders aren’t filling the void left by regular visitors, and many of the casinos are struggling to fill tables. The numbers simply don’t add up. For a city that once thrived on its accessibility and appeal to the masses, the shift towards exclusivity has led to a dangerous loss of its identity.

There is no denying that Las Vegas has become an expensive destination. The costs of basic services have gone up, and the traditional Vegas experience, like walking into a casino, getting a drink, and playing a game of blackjack, has become an unattainable dream for many. The tables that once featured $5 bets now start at $25, and the classic Vegas charm of affordable luxury has been replaced by high-end exclusivity. The city’s legendary “two-for-one” drink specials have been replaced by $30 cocktails in exclusive lounges that only the wealthy can afford.

The frustration is growing, and many longtime Vegas fans are feeling betrayed. What once felt like an egalitarian city is now a playground for the rich and famous, leaving the average tourist with little to enjoy. The city that was built on inclusivity now feels like it’s closing its doors on the very people who made it what it was. For the average Vegas goer, the dream of winning big, of indulging in cheap fun and excitement, has become a distant memory.

One bright spot in all this is Resorts World, which has boldly decided to buck the trend. They recently dropped their resort fees and started offering free parking—a gesture that seems almost revolutionary in today’s Vegas. And it’s working. Despite the industry’s struggles, Resorts World has seen a significant increase in business, as they’ve embraced the old Vegas spirit of making people feel welcome, regardless of their wallet size. This move has proven that people still want to enjoy Vegas, but they want to do it without being nickeled and dimed at every corner.

This shift could signal a new era for Vegas, one where the focus isn’t on catering to the wealthiest visitors but instead on making the city accessible to all. If other casinos and hotels followed Resorts World’s lead, they might be able to revive the magic that made Las Vegas the destination it once was. But as it stands, Vegas is teetering on the edge, and its future depends on whether it can rediscover what made it so unique in the first place: the spirit of inclusivity and excitement that welcomed everyone, regardless of their bank account.

The story of Las Vegas’ transformation is a cautionary tale for other cities and industries. The decision to prioritize the wealthy over the many may prove to be a shortsighted one. For a city that built its empire on the promise of a good time for everyone, the move to an exclusive, high-priced destination is a dangerous gamble. If Las Vegas isn’t careful, it may find itself losing its soul to a business model that ultimately alienates the very people who made it great.