Vegas Is Getting Better at Making Money. Worse at Making Vegas.

The first-timers are disappearing. The crowd is getting older and richer. And somewhere along the way, the tourist became the problem.

Vegas is trading customers.

The Vegas you remember is leaving, and it may be what feels weird about it.

The rooms are getting cheaper. The visitor count is down. The airport is down. The young crowd is disappearing. Locals seem to be against tourists at times…

And somehow the people who remain are getting richer.

That is not a collapse.

It is a trade, and I'm not so sure we are getting the better end of it…