Analyst: Las Vegas Rates Down on New Year's Eve

LAS VEGAS (AP) - A JPMorgan analyst says that New Year's Eve room rates at Las Vegas casino resorts appear to be 27 percent lower this year, marking another sign of weakness for the city's gambling market.

Based on a weekly survey of Las Vegas Strip room rates, JPMorgan
analyst Joseph Greff said the average daily room rate for Dec. 31
fell to $341 this year, from $466 last year.

He noted that New Year's Eve, a key event for Las Vegas casino operators, falls on Wednesday this year, compared with Monday last

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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