Vegas has a California problem.
It's was too dependent on the CA getaway crowd, and milked it hard post Covid. That audience was 3 or 4x per year whenever they had a few bucks, and they spent it freely, but did not gamble. It was shows, food and influencing.
CA is now a disaster with incredible unemployment and zero discretionary income.
That CA crowd, with its weed & strollers at all hours of the day, chased away the midwest audience that would go once per year, to gamble.
That CA crowd chased away the white CEOs and conservative management of many companies and industry associations so that many do not attend conventions or conventions have relocated.
Vegas is dead because CA killed it.