A New Frugality Invades Las Vegas

Frugality is probably not the first word one would associate with a city known for sin and excess. But in the wake of the global financial crash, Matthew Garrahan examines how Las Vegas is pursuing a conservative path to recovery.

2 minute read

October 3, 2012, 6:00 AM PDT

By Jonathan Nettler @nettsj


Plans for the renovation of the historic Sahara casino by Los Angeles-based SBE group stand in stark contrast to how such a project would have proceeded prior the recession. "Before the 2008 crash," says Garrahan, "any company seeking to redevelop an older casino
hotel would have knocked it down and built a new one in its place." MGM's massive $9 billion City­Center project, on the other hand, which opened at the end of 2009 and is now slashing prices for its condos, is the symbol of the way things were prior to the crash, when Las Vegas "stood as a shining example of the power of the leisure economy."

"Property buyers taking advantage of the sharply reduced prices in Vegas
at CityCenter and across the broader residential market will find a city
that is re-examining how it attracts tourists and residents," observes Garrahan.

"For years,
demand was so strong that every time a new casino resort opened with
thousands of rooms there would be people to fill it. But casino
operators have become more circumspect and, as the Sahara redevelopment
shows, small and affordable is now the norm, rather than big at any
cost, with debt, The Sahara redevelopment will cost $765m, much less
than multibillion-dollar new-build projects such as CityCenter, the
Bellagio or the Wynn Las Vegas that have sprung up in Las Vegas over the
past 20 years. Instead of adding thousands of new rooms, SBE is
focusing on quality rather than quantity."

Friday, September 28, 2012 in The Financial Times

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 16, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

July 14, 2025 - Smart Cities Dive

Worker in yellow safety vest and hard hat looks up at servers in data center.

Ohio Forces Data Centers to Prepay for Power

Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

July 18 - Inside Climate News

Former MARTA CEO Collie Greenwood standing in front of MARTA HQ with blurred MARTA sign visible in background.

MARTA CEO Steps Down Amid Citizenship Concerns

MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

July 18 - WABE

Rendering of proposed protected bikeway in Santa Clara, California.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant

A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.

July 17 - San José Spotlight