Although the economy has taken a negative turn therefore causing a decline in travelers to Las Vegas, many gamblers are still being lured in by low airfares and cheap room rates to return to the popular casino gambling spot.

Pres. Barack Obama has also added to the negative side of the casino industry in terms of travel. As the economy continues to decline his openly remarked about companies receiving public bailout money and commented on the choice of companies to use Las Vegas as a place to hold meetings.

“The consequence of that loss of that demand is we’re filling rooms that would otherwise be dedicated to those customers with a more value-oriented promotional market,” Loveman said. “That is, to a large degree, why you can go online day and night and see these unbelievably attractive offers coming in from all of us to try to fill these rooms.” “That’s the hole that has to get plugged,” he said. “Then I think you will see the rest of the business firm up.”

Loveman has been a member of the Harrah’s Casino resort Corporation for 11 years, six of which he has served as chief executive officer. He admits that this recession has proved to be quite challenging however he feels it has caused a new surge of energy.

“These last few months have been incredibly interesting, incredibly energizing, but at the same time very hard,” he said. “You get up in the morning and, by and large, you face a series of problems all day long. Where as before, you faced some combination of problems and opportunities. You’re doing a series of things that don’t feel very good even though you know intellectually they’re the right action to take.”

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